FareThe price paid by the user of a transport service at the moment of use.
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Fixed CostCosts that do not vary with the quantity shipped in the short run, i.e. costs that must be paid up front to begin producing transportation services.
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Public TransportPassenger transportation services, usually local in scope, that are available to any person who pays a prescribed fare. It operates on established schedules along designated routes or lines with specific stops and is designed to move relatively large numbers of people at one time.
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Rapid TransitRail or motorbus transit service operating completely separate from all modes of transportation on an exclusive right-of-way. |
RateThe price of transportation services paid by the consumer. They are the negotiated monetary costs of moving a passenger or a unit of freight between a specific origin and destination.
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Transaction CostsCosts required for gathering information, negotiating, and enforcing contracts, letters of credit and transactions. Often referred to as the cost of doing business. |
PurchasingThe activity of purchasing is to acquire goods and/or services to meet the objectives of a business. Purchasing is done according to a standard as outlined in the procurement policy of the business. |
Total Quality Management (TQM)TQM describes a structured, systematic and integrated management approach to long–term success through maximizing internal and external customer and supplier satisfaction. It is where all managers and employees of an organization use quantitative methods to participate together as a team and actively work to support each other in improving all the processes, products, services, and the culture (ethos) in which they work. It is a management philosophy that looks to integrate all the organizational functions (marketing, finance, customer service, etc.) to continually improve on the delivery of customer needs and business objectives. TQM is also referred to today as Business Excellence |
Quality AssuranceQuality assurance is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering products or services to customers; which ISO 9000 defines as "part of quality management focused on providing confidence that quality requirements will be fulfilled" |
Job ShopsJob shops are typically small manufacturing systems that handle job production, that is, custom/bespoke or semi-custom/bespoke manufacturing processes such as small to medium-size customer orders or batch jobs. Job shops typically move on to different jobs (possibly with different customers) when each job is completed. |