MATERIAL CONTROL SYSTEM Definition

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MATERIAL CONTROL SYSTEM (MCS) is the software program used to control the routing and transfer of material within an automated material handling and control system.

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ABSOLUTE CHANGE is a numerical change in an empirical value, e.g. cost of goods was reduced by $9.00.

EXTERNAL AUDITOR is an auditor, usually working for an audit firm, that is completely independent of the company it is auditing. External auditors should always be certified by a professional association of accountants, and should be selected by, and report to, the corporation's board of directors.

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