Supply Chain Management main glossary

This is a glossary of key terms used throughout the site.

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Batch (lot) is a defined quantity of starting material and packaging which goes through a single production and is expected to be homogeneous. The size of the batch depends on fixed quantity or amount produced in a fixed time interval.

Entry link: Batch

Batch number

Batch number (lot number) is a unique combination of numbers and/or letters given to a batch and corresponding labels, certificate of analysis and other documentation.

Entry link: Batch number

Batch release

Batch release (lot release) is a procedure by which different batches are tested to assess if it meets all the required product specifications as defined by the relevant pharmacoopoeial standards.

Entry link: Batch release

Bid security

Bid security is a form of financial guarantee where the bidder is required to make a deposit at the time of submission of a bid or tender. Bid security is a safeguard against withdrawal of bids before the end of the bid validity period or a refusal to sign the contract (see also performance guarantee).

Entry link: Bid security

Buffer stock

Buffer stock is a synonym of safety stock, the stock that is kept in reserve in case an item is unavailable from the supplier or a sudden increase occurs in demand. This may be determined at 3-6 months, or calculated as a % of the annual quantity required, depending on the country and system.

Entry link: Buffer stock