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TeachMeFinance.com - explain common item common item 'common item' is an military term. It means '(DOD) 6. Any part or component that is required in the assembly of two or more complete end-items'. Previous 5 Terms: common item - common item common item common item_ common item _ Next 5 Terms: common operating environment - common operational picture common servicing common supplies_ common tactical picture _ Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.