ɔːlðˈoʊ ɐplˈɪkəbəl tʊ ˌɛni tˈaɪp ʌv ˈɛntɚpɹˌaɪz, ɪt hˈæzbiːn pɹaɪmˈɛɹᵻli ɐdˈɑːptᵻd wɪðˌɪn səplˈaɪ tʃˈeɪnz wɛɹˈɛvɚ lˈɑːɹdʒ vˈɑːljuːmz ʌv kəmpˈoʊnənts ɑːɹ bˌiːɪŋ pˈɜːtʃɪst kˈɑːmən ˈaɪɾəmz sˈʌtʃ ɐz nˈʌts ænd bˈoʊlts ɑːɹ ɡˈʊd ɛɡzˈæmpəlz.
Although applicable to any type of enterprise, it has been primarily adopted within supply chains wherever large volumes of components are being purchased (common items such as nuts and bolts are good examples).