I get texts and emails all hours of the day asking me questions like, "What does MOQ mean?" Well, that particular acronym stands for Minimum Order Quantities. Maybe a list of common acronyms related to the food & beverage industry would help....so, here you go!
CPG Consumer Product Goods
SKU Stock Keeping Unit
UPC Universal Product Code
COGS Cost of Goods Sold
MOQ Minimum Order Quantities
CPQ Case Pack Quantity
PO Purchase Order
GTIN Global Trade Item Number
FOB Freight on Board
DC Distribution Centers
DSD Direct Store Delivery
POS Point of Sales
OOS Out of Stock
ACV All Commodity Value
OI Off Invoice
TPR Temporary Price Reduction
MSRP Manufacturer's Suggested Retail Price
MCB Manufacturer's Chargeback
LTO Limited Time Offer
And, here are a few more....
D2C Direct to Consumer
B2B Business to Business
EPD Existing Product Development
NPD New Product Development
QA Quality Assurance
QC Quality Control
SOP Standard Operating Procedures
GMP Good Manufacturing Practices
SSOP Sanitation Standard Operating Procedures
TFMS Texas Food Manufacturing Standard
Don't be ashamed to ask when you don't understand something. Everyone starts at the beginning and somehow, we are all in this together.
Trish Wesevich
Launchpoint Culinary Services