The general term “job lot” describes any situation in which a small amount of a material or product is produced at one time and sold as a single unit. In finance, any commodities futures contract in which the underlying commodity is denominated in a smaller amount than normal is considered a job lot.
What does Job Lot mean?
Definition of job lot
1 : a miscellaneous collection of goods for sale as a lot usually to a retailer. 2 : a miscellaneous and usually inferior collection or group.
What is another word for job lot?
In this page you can discover 10 synonyms, antonyms, idiomatic expressions, and related words for job-lot, like: by lot price, reduced, at a cut rate, cheap, inventory, miscellaneous merchandise, miscellanea, mixed bag, and grab bag.
How did Job Lot get its name?
Etymology. The name of the company derives from Rhode Island’s nickname, “The Ocean State”, and from “Job Lot”, which means a miscellaneous group of articles.
What is a job lot quantity?
noun. a large, often assorted quantity of goods sold or handled as a single transaction. a miscellaneous quantity; a quantity of odds and ends.
What is job production in production and operations management?
Job production is a manufacturing process which involves workers making a single unique customized product for a single customer. Depending upon the customer needs, job production method is used to create a product from start to finish. This method of production is not used for producing goods in mass quantity.
What is the difference between a job and a job lot?
Since each sign is identical, the print shop can print hundreds or thousands of them after the machines are properly set up. This would be considered a job lot. The job is printing the custom signs. When many of them are produced together, it becomes a job lot.
What is a job lot bundle?
Meaning of job lot in English
a collection of various objects that are bought or sold as a group, usually at a low price: I bought a job lot of second-hand children’s books at an auction.
What does Job Lot mean on ebay?
Job lots are a grouping of items sold as a single lot. So, they are essentially an assortment of goods for sale as one quantity. These bundles are mixed, meaning there will be a range of products in varying conditions and categories.
Where did the name Ocean State Job lot come from?
Not only does Ocean State’s name come from Rhode Island’s nickname, “The Ocean State”, but it is where their first stores originated from. They now have over 150+ stores, five of which are located in the capital district.
Who founded Ocean State Job Lot?
Founded by Marc Perlman, still the chain’s owner, the company’s first store in North Kingstown, R.I., opened in 1977 with three employees.
Where was the original Ocean State Job Lot?
Ocean State Job Lot is the largest closeout retailer in the Northeast. We opened our first store on August 15, 1977 in North Kingstown, Rhode Island. We started the business with the idea that people work hard for their money, so if we can help them stretch their dollars by saving them money, we’ll be successful.
