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1 minimum inventory
The minimum desired inventory level. Inventory is replenished when it reaches the minimum level so that on-hand inventory stays above the minimum. -
2 Transmission Level 1
"A U.S. telephone standard for a transmission facility at digital signal level 1 (DS1) with 1.544 megabits per second in North America and 2.048 megabits per second in Europe. The bit rate is the equivalent bandwidth of approximately twenty-four 56-kilobits-per-second lines. A T1 circuit is capable of serving a minimum of 48 modems at 28.8 kilobits per second or 96 modems at 14.4 kilobits per second. T1 circuits are also used for voice telephone connections. A single T1 line carries 24 telephone connections with 24 telephone numbers. When it is used for voice transmission, a T1 connection must be split into 24 separate circuits." -
3 pay grade
"A compensation level structure that defines discrete ranges of pay per level, and are generally defined by hierarchical levels of authority within a company. Jobs are typically evaluated by a point system that places them at a grade relative to others within the company. Pay rates for a grade are typically determined by using equivalent groups of jobs in the marketplace as benchmarks. Graded structures are narrower than bands, and are typically discrete (for example, pay ranges do not overlap). Grade pay ranges have a fixed minimum, midpoint (or control point), and maximum reference points. Compa-ratios and range utilization are measures used to analyze an employee’s pay relative to their range. Companies can set additional reference points for a grade, such as 25th and 75th percentile, and base variable compensation on one of those points." -
4 safety stock
The planned minimum inventory level. -
5 T1
"A U.S. telephone standard for a transmission facility at digital signal level 1 (DS1) with 1.544 megabits per second in North America and 2.048 megabits per second in Europe. The bit rate is the equivalent bandwidth of approximately twenty-four 56-kilobits-per-second lines. A T1 circuit is capable of serving a minimum of 48 modems at 28.8 kilobits per second or 96 modems at 14.4 kilobits per second. T1 circuits are also used for voice telephone connections. A single T1 line carries 24 telephone connections with 24 telephone numbers. When it is used for voice transmission, a T1 connection must be split into 24 separate circuits."T1 -
6 midpoint
The reference point that is midway between a range minimum and maximum in a graded compensation plan. It represents the intended average pay for all employees at a certain compensation level. -
7 broad band
"A structure of compensation levels that includes broad ranges of pay per level and is generally defined by grouping jobs with similar aggregate levels of responsibility. Pay for individual jobs is often linked to the external market. Bands are also typically differentiated by the variable compensation awards available at each band. Broad banding eliminates the hierarchy and narrow ranges of graded structures and allows ranges to overlap (for example, the 90th percentile of Band B equals the 10th percentile of Band C). Broad bands do not contain midpoints and generally do not have fixed minimums or maximums (for example, allowing pay that is either below a minimum or above a maximum rate within a band because the external market determines a specific job rate). Companies can store additional reference points for a band, such as a 50th percentile (or Control Point), 25th and 75th percentile, and base variable compensation on one of those points."
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