Page 175 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

1 68 Your Idea, I nc.

it in ten stores to see how it will sell before selling it in more
stores , the buyer may say something like, "We are testing you in
ten doors and will roll you out to more if the line is successful."
• EO.B. stands for freight on board. It refers to the city from where
you ship out the product and where they will be paying freight
from. A buyer may ask, "Where's your FOB?" You would say,
"Our FOB is Los Angeles or whatever city you ship from.
• An invoice is the sales document that you send to the accounts
payable department of the company that ordered from you. It is
a detailed account of each item shipped, its corresponding item
number, and price. You might say, "We will send the invoice
separate from the shipment. It will go to your accounting depart­
ment." Office and electronic stores offer a variety of popular soft­
ware programs that can help you create, send, and manage your

invoices. Here are a few: www.quicken.com, www.peachtree.com,
and www.intuit.com.

• Lead time refers to the amount of time it takes for you to ship
an order out. A buyer may ask, "What is the lead time on 1 ,000
units?" You could respond, "Our lead time right now is about
seven to ten days." Or, in a proposal, you could say, "Please allow
two to four weeks lead time on your initial order."

• A packing slip should be sent with each shipment. A packing
slip lists exactly what is in the shipment and the number of car­
tons in the total shipment. It is usually inside a small envelope
that is stuck to the outside of the box. Packing slip envelopes are
sold at office supply stores.

• PO stands for purchase order. Receiving POs is the name of the
game. A purchase order contains the order placed by the buyer.
A buyer may say, "1 am issuing the PO next week" or 'The PO
number is 1 234."

Components of a PO

• Buyer's name
• Carrier preference
• Company's name, phone number, ship to and bill to addresses