GLOSSARY
Enterprise Integration and Communications Systems
- V -
- Variable Costs
- An operating cost that varies directly with the production volume including direct material, direct labor and variable overhead costs (fixed factory overhead is not included in variable costs). For inventory order quantity purposes, unit costs must include both variable and fixed costs to determine the unit costs. [APIC].
- Vendor Lead Time
- The time that normally elapses between the time an order is received by a supplier and shipment of the material requested.
- Vendor Performance Rating
- The result of measuring a vendor's performance to contract. Performance ratings usually cover delivery, quality and price (vendor measurement). [APIC].
- Virtual Memory
- A programming method that allows the operating system to provide essentially unlimited program address space. [DEC].
- VMS
- DEC's VAX operating system.