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APICS > APICS Deck 10 OO > Flashcards

APICS Deck 10 OO Flashcards

Learning - APICS Terms

1
Q

APICS Deck 10

retail method

A

A method of inventory valuation in which the value is determined by applying a predetermined percentage based on retail markup to the retail price, to determine its inventory value based on cost.R

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2
Q

APICS Deck 10

parent

A

Syn: parent item.P

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3
Q

APICS Deck 10

allocated material

A

Syn: reserved material.A

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4
Q

APICS Deck 10

evaporating cloud

A

In the theory of constraints, a logicbased tool for surfacing assumptions related to a conflict or problem. Once the assumptions are surfaced, actions to break an assumption and hence solve (evaporate) the problem can be determined.E

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5
Q

APICS Deck 10

backflush

A

A method of inventory bookkeeping where the book (computer) inventory of components is automatically reduced by the computer after completion of activity on the component’s upper-level parent item based on what should have been used as specified on the bill of material and allocation records. This approach has the disadvantage of a built-in differential between the book record and what is physically in stock. Syn: explode-to-deduct, post-deduct inventory transaction processing. See: pre-deduct inventory transaction processing.B

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6
Q

APICS Deck 10

TRP

A

Abbreviation for transportation requirements planning.T

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7
Q

APICS Deck 10

commercial invoice

A

An official document indicating the names of the seller and buyer, the product being shipped, and its value. The document is provided by the seller.C

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8
Q

APICS Deck 10

resource-limited scheduling

A

The scheduling of activities so that predetermined resource availability pools are not exceeded. Activities are started as soon as resources are available (with respect to logical constraints), as required by the activity. When not enough of a resource exists to do all tasks on a given day, a priority decision is made. Project finish may be delayed, if necessary, to alter schedules constrained by resource usage.R

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9
Q

APICS Deck 10

constrained optimization

A

Achieving the best possible solution to a problem in terms of a specified objective function and a given set of constraints.C

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10
Q

APICS Deck 10

optimization

A

Achieving the best possible solution to a problem in terms of a specified objective function.O

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11
Q

APICS Deck 10

and transportation

A

that is aligned with the overall business strategy. See: strategic plan.L

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12
Q

APICS Deck 10

operating leverage

A

Comparing an organization’s annual sales to its annual costs.O

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13
Q

APICS Deck 10

letter of credit

A

An assurance by a bank that payment will be made as long as the sales terms agreed to by the buyer and seller are met. This method of payment for sales contracts provides a high degree of protection for the seller.L

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14
Q

APICS Deck 10

strategic variables

A

The most important variables that effect the business environment and business strategy. These are typically the economic situation, population demographics, changes in technology, and government policies.S

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15
Q

APICS Deck 10

time series forecasting

A

A forecasting method that projects historical data patterns into the future. It involves the assumption that the near-term future will be like the recent past.T

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16
Q

APICS Deck 10

advanced planning system (APS)

A

Syn: advanced planning and scheduling.A

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17
Q

APICS Deck 10

freight carriers

A

Companies that move cargo via truck, rail, air, or sea.F

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18
Q

APICS Deck 10

encryption

A

Changing readable words into another form, called a cipher, which hides the text’s meaning.E

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19
Q

APICS Deck 10

functional requirements

A

Syn: critical characteristics.F

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20
Q

APICS Deck 10

residual income

A

The net operating income that an investment center earns above the minimum required return on its operating assets.R

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21
Q

APICS Deck 10

global marketing

A

The use of one marketing strategy in all countries in which a company operates, selling a single product worldwide.G

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22
Q

APICS Deck 10

reverse auction

A

An internet auction in which suppliers attempt to underbid their competitors. Company identities are known only by the buyer.R

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23
Q

APICS Deck 10

common parts bill

A

Syn: common parts bill of material.C

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24
Q

APICS Deck 10

sales order number

A

A unique control number assigned to each new customer order, usually during order entry. It is often used by order promising, master scheduling, cost accounting, invoicing, and so forth. For some S make-to-order products, it can also take the place of an end item part number by becoming the control number that is scheduled through the finishing operations.S

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25
Q

APICS Deck 10

slack time

A

In project management, the amount of time that an activity may be delayed from its early start without delaying the project finish date. Syn: slack.S

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26
Q

APICS Deck 10

segment customers

A

Grouping customers by common characteristics to facilitate sales.S

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27
Q

APICS Deck 10

seasonal component

A

A component of demand, usually describing the impact of variations that occur because of the time of year (quarter, month, week) on demand. See: decomposition, time series analysis.S

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28
Q

APICS Deck 10

vertically integrated firm

A

An organization with functions that were previously performed by suppliers but are now done internally. See: horizontally integrated firm.V

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29
Q

APICS Deck 10

random numbers

A

A sequence of integers or group of numbers (often in the form of a table) that show absolutely no relationship to each other anywhere in the sequence. At any point, all values have an equal chance of occurring, and they occur in an unpredictable fashion.R

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30
Q

APICS Deck 10

probability distribution

A

A table of numbers or a mathematical expression that indicates the frequency with which each of all possible results of an experiment should occur.P

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31
Q

APICS Deck 10

mixed-model assembly line

A

An assembly line with more than one type of model passing through it.M

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32
Q

APICS Deck 10

hypothesis testing

A

Use of statistical models to test conclusions about a population or universe based on sample information.H I

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33
Q

APICS Deck 10

is secured are changed

A

as opposed to value analysis, in which the item itself is actually changed to produce a lower cost.C

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34
Q

APICS Deck 10

Management (CFPIM)

A

The APICS designation that is a recognition of superior knowledge and performance in contributing to the profession.C

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35
Q

APICS Deck 10

campaign

A

A series of batches of the same product run together (back to back).C

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36
Q

APICS Deck 10

production report

A

A statement of the output of a production facility for a specified period. The information normally includes the type and quantity of output; workers’ efficiencies; departmental efficiencies; costs of direct labor, direct material, and the like; overtime worked; and machine downtime.P P

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37
Q

APICS Deck 10

multidomestic strategy

A

Syn: multicountry strategy.M

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38
Q

APICS Deck 10

material flexibility

A

The ability of the transformation process to handle unexpected variations in material inputs.M

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39
Q

APICS Deck 10

incentive

A

A reward, financial or otherwise, that compensates a worker for high or continued performance above standard. An incentive is also a motivating influence to induce effort above normal.I

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40
Q

APICS Deck 10

acceptable sampling plan

A

A specific plan that indicates the sampling sizes and the associated acceptance or nonacceptance criteria to be used.A

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41
Q

APICS Deck 10

net change MRP

A

An approach in which the material requirements plan is continually retained in the computer. Whenever a change is needed in requirements, open order inventory status, or bill of material, a partial explosion and netting is made for only those parts affected by the change. Ant: regeneration MRP.N

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42
Q

APICS Deck 10

DOE

A

Abbreviation for design of experiments.D

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43
Q

APICS Deck 10

GAAP

A

Acronym for generally accepted accounting principles.G

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44
Q

APICS Deck 10

gateway work center

A

A work center that performs the first operation of a particular routing sequence.G

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45
Q

APICS Deck 10

production part approval process (PPAP)

A

A Big Three automotive process outlining requirements for approval of production parts. Its purpose is to measure whether a supplier can, with regularity, fulfill these requirements.P

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46
Q

APICS Deck 10

contract date

A

The date when a contract is accepted by all parties.C

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47
Q

APICS Deck 10

design for service

A

Simplification of parts and processes to improve the after-sale service of a product. Syn: design for maintainability.D

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48
Q

APICS Deck 10

external environment

A

All the factors that exist outside the boundary of the organization that have the possibility of affecting any part of the organization. See: internal environment, organizational environment.E

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49
Q

APICS Deck 10

assembly chart

A

Overview of a product containing assembly and subassembly operations, materials, and components.A A

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50
Q

APICS Deck 10

significant part number

A

A part number that is intended to convey certain information, such as the source of the part, the material in the part, or the shape of the part. Using numbers to represent this information usually makes these part numbers longer than corresponding nonsignificant part numbers. Ant: nonsignificant part number.S

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51
Q

APICS Deck 10

booked orders

A

Demand that has been confirmed. See: customer order, demand, order penetration point.B

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52
Q

APICS Deck 10

supply chain resilience

A

The ability of a supply chain to anticipate, create plans to avoid or mitigate, and/or to recover from disruptions to supply chain functionality.S

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53
Q

APICS Deck 10

project risk management

A

In project management, a systematic process of controlling project risk. It includes maximizing the likelihood and effect of positive events and minimizing the likelihood and effect of negative events.P

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54
Q

APICS Deck 10

fixed-position manufacturing

A

Similar to project manufacturing, this type of manufacturing is mostly used for large, complex projects, where the product remains in one locations for its full assembly period or may move from location to location after considerable work and time are spent on it. Examples of fixed position manufacturing include shipbuilding or aircraft assembly, where the costs of frequent movement of the product are very high.F

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55
Q

APICS Deck 10

AS/RS

A

Abbreviation for automated storage/retrieval system.A

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56
Q

APICS Deck 10

NLRB

A

Abbreviation for National Labor Relations Board.N

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57
Q

APICS Deck 10

operating expense

A

All the money an organization spends in generating “goal units.”O

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58
Q

APICS Deck 10

pipeline inventory

A

Syn: pipeline stock.P

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59
Q

APICS Deck 10

normal time

A

In time study, adjusting the actual time observed by a factor called pace rating. See: pace rating.N

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60
Q

APICS Deck 10

leveling

A

Syn: resource leveling.L

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61
Q

APICS Deck 10

push technology

A

The automatic updates in selected services, such as news or weather, that occur periodically as information is sent via the internet. The source of the information “pushes” it upon the customer. Syn: webcasting.P

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62
Q

APICS Deck 10

external setup time

A

The time associated with elements of a setup procedure performed while the process or machine is running. Ant: internal setup time.E

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63
Q

APICS Deck 10

MRO

A

1) Abbreviation for maintenance, repair, and operating. 2) Abbreviation for maintenance, repair, and overhaul.M

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64
Q

APICS Deck 10

eBPP

A

Abbreviation for electronic bill presentment and payment.E

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65
Q

APICS Deck 10

secondary highways

A

Highways that are predominantly rural in nature.S

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66
Q

APICS Deck 10

continuous process

A

Syn: continuous production.C

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67
Q

APICS Deck 10

comptroller

A

Syn: controller.C

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68
Q

APICS Deck 10

breakdown maintenance

A

Remedial maintenance that occurs when equipment fails and must be repaired on an emergency or priority basis. Syn: irregular maintenance, reactive maintenance.B

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69
Q

APICS Deck 10

item demand

A

Demand disaggregated into specific configurations of goods or services. See: item.I

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70
Q

APICS Deck 10

extrinsic forecasting method

A

A forecast method on a correlated leading indicator, such as estimating furniture sales based on housing starts. Extrinsic forecasts tend to be more useful for large aggregations, such as total company sales, than for individual product sales. Ant: intrinsic forecast method. See: quantitative forecasting technique.E F F

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71
Q

APICS Deck 10

contribution margin

A

An amount equal to the difference between sales revenue and variable costs.C

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72
Q

APICS Deck 10

contract reporting

A

Reporting of and the accumulation of finished production against commitments to a customer.C contracts for the international sale of goods (CISG) Govern the sale of goods in the international environment. They enable exporters to avoid choice-of-law issues.C

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73
Q

APICS Deck 10

build cycle

A

The time period between a major setup and a cleanup. It recognizes cyclical scheduling of similar products with minor changes from one product/model to another.B

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74
Q

APICS Deck 10

green reverse logistics

A

The responsibility of the supplier to dispose of packaging materials or environmentally sensitive materials such as heavy metals.G

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75
Q

APICS Deck 10

distribution inventory

A

Inventory, usually spare parts and finished goods, located in the distribution system (e.g., in warehouses, in-transit between warehouses and the consumer).D

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76
Q

APICS Deck 10

field

A

A specified area of a record used for a particular category of data.F

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77
Q

APICS Deck 10

Project Management Body of Knowledge (PMBOK®)

A

All the knowledge within the project management profession; this includes all published and unpublished material, knowledge that rests with practitioners and academics, and practices that range from traditional to innovative.P

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78
Q

APICS Deck 10

shipping tolerance

A

An allowable deviation that the supplier can ship over or under the contract quantity.S

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79
Q

APICS Deck 10

supplier audit

A

Auditing supplier processes as part of a supplier development system.S

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80
Q

APICS Deck 10

job costing

A

A cost accounting system in which costs are assigned to specific jobs. This system can be used with either actual or standard costs in the manufacturing of distinguishable units or lots of products. Syn: job order costing.J

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81
Q

APICS Deck 10

actual cost system

A

A cost system that collects costs historically as they are applied to production and allocates indirect costs to products based on the specific costs and achieved volume of the products.A

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82
Q

APICS Deck 10

total cost curve

A

1) In cost-volume-profit (breakeven) analysis, the total cost curve is composed of total fixed and variable costs per unit multiplied by the number of units provided. Breakeven quantity occurs where the total cost curve and total sales revenue curve intersect. See: break-even chart, break-even point. 2) In inventory theory, the total cost curve for an inventory item is the sum of the costs of acquiring and carrying the item. See: economic order quantity.T

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83
Q

APICS Deck 10

inventory visibility

A

The extent to which inventory information is shared within a firm and with supply chain partners.I

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84
Q

APICS Deck 10

quality trilogy

A

A three-pronged approach to managing quality proposed by Joseph Juran. The three legs are quality planning (developing the products and processes required to meet customer needs), quality control (meeting product and process goals), and quality improvement (achieving unprecedented levels of performance). Syn: Juran trilogy.Q

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85
Q

APICS Deck 10

load leveling

A

Spreading orders out in time or rescheduling operations so that the amount of work to be done in sequential time periods tends to be distributed evenly and is achievable. Although both material and labor are ideally level loaded, specific businesses and industries may load to one or the other exclusively (e.g., service industries). Syn: capacity smoothing, level loading. See: level schedule.L

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86
Q

APICS Deck 10

replenishment

A

Relocating material from a bulk storage area to an order pick storage area, and documenting this relocation.R

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87
Q

APICS Deck 10

fee

A

The charge for the use of the contractor’s organization for the period and to the extent specified in the contract.F

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88
Q

APICS Deck 10

transportation inventory

A

Inventory that is in transit between locations. See: pipeline stock, transit inventory.T

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89
Q

APICS Deck 10

planned issue receipt

A

A transaction that updates the on-hand balance and the related allocation or open order.P

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90
Q

APICS Deck 10

rolling forecast

A

Moving the forecast horizon forward to new periods by adding recent data (and perhaps dropping the oldest data).R

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91
Q

APICS Deck 10

location tag

A

A bar-coded sign situated at a warehouse location. The location number can be read or scanned.L

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92
Q

APICS Deck 10

debenture

A

A bond that is backed by the general credit of the issuing firm.D

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93
Q

APICS Deck 10

protect system throughput

A

ensuring that some capacity above the capacity required to exploit the constraint is available to catch up when disruptions inevitably occur. Nonconstraint resources need protective capacity to rebuild the bank in front of the constraint or capacityconstrained resource (CCR) and/or on the shipping dock before throughput is lost and to empty the space buffer when it fills.P

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94
Q

APICS Deck 10

general-purpose machinery

A

Manufacturing resources that can perform several kinds of operations.G

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95
Q

APICS Deck 10

batch bill of materials

A

A recipe or formula in which the statement of quantity per is based on the standard batch quantity of the parent. Syn: batch formula.B

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96
Q

APICS Deck 10

prime costs

A

Direct costs of material and labor. Prime costs do not include general, sales, and administrative costs.P

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97
Q

APICS Deck 10

demurrage

A

The carrier charges and fees applied when rail freight cars and ships are retained beyond a specified loading or unloading time. See: detention, express.D

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98
Q

APICS Deck 10

material constraint

A

Usually a misnomer. Material shortages are rarely the constraint, rather temporary material shortages hinder effective constraint management by inhibiting the ability to fully exploit and/or subordinate to the constraint.M

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99
Q

APICS Deck 10

failsafe work methods

A

Methods of performing operations so that actions that are incorrect cannot be completed. For example, a part without holes in the proper place cannot be removed from a jig, or a computer system will reject invalid numbers or require double entry of transaction quantities outside the normal range. Called poka-yoke by the Japanese. Syn: failsafe techniques, mistake-proofing, poka-yoke.F

100
Q

APICS Deck 10

cycle counting

A

An inventory accuracy audit technique where inventory is counted on a cyclic schedule rather than once a year. A cycle inventory count is usually taken on a regular, defined basis (often more frequently for high-value or fast-moving items and less frequently for low-value or slow-moving items). Most effective cycle counting systems require the counting of a certain number of items every workday with each item counted at a prescribed frequency. The key purpose of cycle counting is to identify items in error, thus triggering research, identification, and elimination of the cause of the errors.C

101
Q

APICS Deck 10

automatic identification and data capture (AIDC)

A

A set of technologies that collect data about objects and then send these data to a computer without human intervention. Examples include radio frequency wireless devices and terminals, bar code scanners, and smart cards.A

102
Q

APICS Deck 10

total cost concept

A

In logistics, the idea that all logistical decisions that provide equal service levels should favor the option that minimizes the total of all logistical costs and not be used on cost reductions in one area alone, such as lower transportation charges.T

103
Q

APICS Deck 10

bundling

A

Combining two or more products or services into a single transaction.B

104
Q

APICS Deck 10

cultural environment

A

The sociocultural factors of the organization’s external environment. It includes values, work ethics, education, religion, and consumer and ecological factors.C

105
Q

APICS Deck 10

dummy activity

A

In activity-on-arrow diagramming, an activity with zero duration used to express a precedence relationship that can’t otherwise be diagrammed. It is shown graphically with a dashed arrow.D

106
Q

APICS Deck 10

independent demand

A

The demand for an item that is unrelated to the demand for other items. Demand for finished goods, parts required for destructive testing, and service parts requirements are examples of independent demand. See: dependent demand.I independent demand item management models Models for the management of items whose demand is not strongly influenced by other items managed by the same company. These models can be characterized as follows: (1) stochastic or deterministic, depending on the variability of demand and other factors; (2) fixed quantity, fixed cycle, or hybrid (optional replenishment). See: fixed reorder cycle inventory model, fixed reorder quantity inventory model, optional replenishment model.I

107
Q

APICS Deck 10

on-time delivery

A

A metric measuring the percent of receipts that were received on time by customers. See: on-time in full.O

108
Q

APICS Deck 10

parts list

A

A list of parts, materials, and components required to make an item. See: single level bill of material.P

109
Q

APICS Deck 10

quarantine

A

The setting aside of items from availability for use or sale until all required quality tests have been performed and conformance certified.Q

110
Q

APICS Deck 10

union contract

A

A formal contract, usually covering twoto- six years, between a union representing employees and their company that covers all aspects of pay, working conditions, and strike options.U

111
Q

APICS Deck 10

commodity

A

An item that is traded in commerce. The term usually implies an undifferentiated product competing primarily on price and availability.C

112
Q

APICS Deck 10

system layout planning (SLP)

A

A facility layout methodology that develops the layout of a facility by considering the importance of proximity of each department to the other departments.S

113
Q

APICS Deck 10

EDT

A

An abbreviation for electronic data transfer.E

114
Q

APICS Deck 10

terms and conditions

A

All the provisions and agreements of a contract.T

115
Q

APICS Deck 10

roll-on/roll-off container ship

A

A ship that allows trailers to be driven on and off without the use of cranes.R

116
Q

APICS Deck 10

cost of sales

A

The total cost attached (allocated) to units of finished product delivered to customers during the period. See: cost of goods sold.C

117
Q

APICS Deck 10

enterprise resources portal

A

A means for a company to share, exchange, or transact information with an external business partner using internet-based technologies. An enterprise resources portal is often associated with an enterprise resources planning system, which can be configured to share or present such information via an internet portal or hyperlink. An enterprise resources portal can also be one means of implementing a private trading exchange.E

118
Q

APICS Deck 10

schedule activity

A

During a project, a specific piece of work performed that has estimated costs, duration, and resource requirements.S

119
Q

APICS Deck 10

scarcity

A

A concept central to economics that means less of a good is freely available than consumers would like.S

120
Q

APICS Deck 10

annual physical inventory

A

Syn: physical inventory.A

121
Q

APICS Deck 10

first-tier supplier

A

One that supplies goods or services directly to a business.F

122
Q

APICS Deck 10

put-to-light

A

A process that uses lights to ensure materials are placed in the correct locations. Also, it is used to ensure that picked items are placed correctly.P

123
Q

APICS Deck 10

activity analysis

A

In project management, the identification and description of activities within an organization for the purpose of activity-based costing.A

124
Q

APICS Deck 10

sales quota

A

The level of sales that an individual or group is expected to meet.S

125
Q

APICS Deck 10

star

A

A slang term used to refer to a high-growth, highprofit- margin product. See: growth-share matrix.S

126
Q

APICS Deck 10

MTFF

A

Abbreviation for mean time for failures.M

127
Q

APICS Deck 10

APP

A

Abbreviation for aggregate production plan.A

128
Q

APICS Deck 10

forward scheduling

A

A scheduling technique where the scheduler proceeds from a known start date and computes the completion date for an order, usually proceeding from the first operation to the last. Dates generated by this technique are generally the earliest start dates for operations. See: forward pass. Ant: back scheduling.F

129
Q

APICS Deck 10

producer

A

One who creates a good or service.P

130
Q

APICS Deck 10

value analysis

A

The systematic use of techniques that identify a required function, establish a value for that function, and finally provide that function at the lowest overall cost. This approach focuses on the functions of an item rather than the methods of producing the present product design.V

131
Q

APICS Deck 10

product benchmarking

A

This benchmarking is used for new product design or for a product upgrade. This often includes reverse engineering (dismantling) competing products to determine their strengths and weaknesses. See: benchmarking.P

132
Q

APICS Deck 10

differentiated oligopoly

A

A market in which a few companies produce partially differentiated products or services that are marketed within a given geographical area. Differentiation may be based on quality, features, styling, or services offered along with the product. See: industry structure types.D

133
Q

APICS Deck 10

appreciation of a currency

A

An increase in the buying power of a country’s currency in terms of other countries’ goods and services.A

134
Q

APICS Deck 10

information system

A

Interrelated computer hardware and software along with people and processes designed for the collection, processing, and dissemination of information for planning, decision making, and control.I

135
Q

APICS Deck 10

active data gathering

A

Data gathered when a company initiates conversation with the customer.A

136
Q

APICS Deck 10

smoothing inventories

A

Inventories used when upstream production levels are less than downstream demand.S S

137
Q

APICS Deck 10

global positioning system (GPS)

A

A system that uses satellites to locate an object’s position.G

138
Q

APICS Deck 10

job design

A

The function of describing a job with respect to its content and the methods to be used. Criteria, such as the degree of job specialization, job enrichment, and job enlargement are useful in designing work content.J

139
Q

APICS Deck 10

system

A

A regularly interacting or interdependent group of items forming a unified whole toward the achievement of a goal.S

140
Q

APICS Deck 10

line functions

A

Areas involved in daily operations. Logistics line functions include inventory control, order processing, warehousing and packaging.L

141
Q

APICS Deck 10

purchasing

A

The term used in industry and management to denote the function of and the responsibility for procuring materials, supplies, and services.P

142
Q

APICS Deck 10

assortment warehousing

A

A warehousing technique that stores the goods close to the customer to ensure short customer lead times.A

143
Q

APICS Deck 10

outside shop

A

Suppliers. This term is used to convey the idea that suppliers are an extension of the inside shop or the firm’s production facilities.O

144
Q

APICS Deck 10

gross inventory

A

The standard cost value of inventory before allowance for excess or obsolete items.G

145
Q

APICS Deck 10

customer convergence

A

An internet-based marketing concept in which organizations must provide descriptions of the goods and services they offer so that potential customers locate or converge on the appropriate websites.C

146
Q

APICS Deck 10

book value

A

The accounting value of an asset.B

147
Q

APICS Deck 10

holding company

A

In financial management, a firm that controls the voting stock of other firms.H

148
Q

APICS Deck 10

import merchant

A

Purchasing agent who buys and takes the title for goods and then resells them.I

149
Q

APICS Deck 10

line haul costs

A

Basic costs of carrier operation to move a container of freight, including driver’s wages and usage depreciation. These vary with the cost per mile, the distance shipped, and the weight moved.L

150
Q

APICS Deck 10

client/server system

A

A distributed computing system in which work is assigned to the computer best able to perform it from among a network of computers.C

151
Q

APICS Deck 10

horizontally integrated firm

A

An organization that seeks to produce or sell a type of product in numerous markets. The horizontal integration exists when an organization produces or sells similar products in various geographical locations. Horizontal integration in marketing occurs more frequently than horizontal integration in production. See: vertically integrated firm.H

152
Q

APICS Deck 10

statistical order point

A

Syn: order point.S

153
Q

APICS Deck 10

CRP

A

Abbreviation for capacity requirements planning.C

154
Q

APICS Deck 10

produce-to-stock

A

Syn: make-to-stock.P

155
Q

APICS Deck 10

reliability

A

The probability that a product will perform its specified function under prescribed conditions without failure for a specified period of time. It is a design parameter that can be made part of a requirements statement. See: mean time between failures, mean time for failures.R

156
Q

APICS Deck 10

improvement involving everyone

A

managers and workers. In manufacturing, kaizen relates to finding and eliminating waste in machinery, labor, or production methods. See: continuous process improvement.K

157
Q

APICS Deck 10

MBWA

A

Abbreviation for management by walking around.M

158
Q

APICS Deck 10

equivalent days

A

The standard hour requirements of a job converted to days for scheduling purposes.E

159
Q

APICS Deck 10

assembly order

A

A manufacturing order to an assembly department authorizing it to put components together into an assembly. See: blend order.A

160
Q

APICS Deck 10

usage variance

A

Deviation of the actual consumption of materials as compared to the standard.U

161
Q

APICS Deck 10

activity-based management (ABM)

A

The use of activitybased costing information about cost pools and drivers, activity analysis, and business processes to identify business strategies; improve product design, manufacturing, and distribution; and remove waste from operations. See: activity-based cost accounting.A

162
Q

APICS Deck 10

will call

A

A service process that allows customers to walk up to the seller’s facility and pick up the parts they have previously ordered.W

163
Q

APICS Deck 10

fixed assets

A

Assets acquired for use within a company having an estimated useful life of one year or more.F

164
Q

APICS Deck 10

mass production

A

High-quantity production characterized by specialization of equipment and labor. See: continuous production.M

165
Q

APICS Deck 10

move

A

The physical transportation of inventory from one location to another within a facility. Movements are usually made under the direction and control of the inventory system.M

166
Q

APICS Deck 10

planned issue

A

A disbursement of an item predicted by MRP through the creation of a gross requirement or allocation. Syn: controlled issue.P

167
Q

APICS Deck 10

MAD

A

Acronym for mean absolute deviation.M

168
Q

APICS Deck 10

configuration control

A

The function of ensuring that the product being built and shipped corresponds to the product that was designed and ordered. This means that the correct features, customer options, and engineering changes have been incorporated and documented.C

169
Q

APICS Deck 10

total annual material receipts

A

The amount (in dollars) of all direct materials that were received in a calendar year. This number should fall very close to the direct material dollars that were used in a calendar year in a lean environment.T

170
Q

APICS Deck 10

automation

A

The substitution of machine work for human physical and mental work, or the use of machines for work not otherwise able to be accomplished, entailing a less continuous interaction with humans than previous equipment used for similar tasks.A

171
Q

APICS Deck 10

distribution planner

A

A person who plans inventories and schedules replenishment shipments for the distribution centers.D

172
Q

APICS Deck 10

electronic document

A

The electronic representation of a document that can be printed.E

173
Q

APICS Deck 10

price prevailing at date of shipment

A

An agreement between a purchaser and a supplier that the price of the goods ordered is subject to change at the supplier’s discretion between the date the order is placed and the date the supplier makes shipment and that the thenestablished price is the contract price.P

174
Q

APICS Deck 10

scatterplot

A

Syn: scatter chart.S

175
Q

APICS Deck 10

strategic alliance

A

A relationship formed by two or more organizations that share information (proprietary), participate in joint investments, and develop linked and common processes to increase the performance of both companies. Many organizations form strategic alliances to increase the performance of their common supply chain.S

176
Q

APICS Deck 10

informal culture

A

Organizational characteristics and relationships that are not part of the formal structure but that influence how the organization accomplishes its goals.I

177
Q

APICS Deck 10

computer-aided engineering (CAE)

A

The process of generating and testing engineering specifications on a computer workstation.C

178
Q

APICS Deck 10

gap phasing

A

Syn: gapped schedule.G

179
Q

APICS Deck 10

limiting operation

A

The operation with the least capacity in a series of operations with no alternative routings. The capacity of the total system can be no greater than the limiting operation, and as long as this limiting condition exists, the total system can be effectively scheduled by scheduling the limiting operation and providing this operation with proper buffers. See: protective capacity, protective inventory.L

180
Q

APICS Deck 10

accumulation bin

A

A place, usually a physical location, used to accumulate all components that go into an assembly before the assembly is sent out to the assembly floor. Syn: assembly bin.A

181
Q

APICS Deck 10

demand chain management

A

A supply chain inventory management approach that concentrates on demand pull rather than supplier push inventory models.D D

182
Q

APICS Deck 10

economy of scale

A

A phenomenon whereby larger volumes of production reduce unit cost by distributing fixed costs over a larger quantity. See: economy of scope.E

183
Q

APICS Deck 10

multiactivity chart

A

Shows how workers interact with each other, or with machines, for different activities.M

184
Q

APICS Deck 10

rate variance

A

The difference between the actual output rate of product and the planned or standard output rate.R

185
Q

APICS Deck 10

stochastic models

A

Models where uncertainty is explicitly considered in the analysis.S

186
Q

APICS Deck 10

distribution system

A

A group of interrelated facilities manufacturing and one or more levels of warehousing linking the production, storage, and consumption activities for spare parts and finished goods inventory. See: pipeline stock.D

187
Q

APICS Deck 10

charge

A

The initial loading of ingredients or raw materials into a processor, such as a reactor, to begin the manufacturing process.C

188
Q

APICS Deck 10

collaborative planning

A

Syn: collaborative planning, forecasting, and replenishment.C C collaborative planning, forecasting, and replenishment

189
Q

APICS Deck 10

patent

A

A legal document giving exclusive rights to the production, use, sale, or other action regarding a product or process.P

190
Q

APICS Deck 10

flow shop

A

A form of manufacturing organization in which machines and operators handle a standard, usually uninterrupted, material flow. The operators generally perform the same operations for each production run. A flow shop is often referred to as a mass production shop or is said to have a continuous manufacturing layout. The plant layout (arrangement of machines, benches, assembly lines, etc.) is designed to facilitate a product “flow.” Some process industries (chemicals, oil, paint, etc.) are extreme examples of flow shops. Each product, though variable in material specifications, uses the same flow pattern through the shop. Production is set at a given rate, and the products are generally manufactured in bulk. Syn: flow line, flow manufacturing, flow plant.F

191
Q

APICS Deck 10

fast-tracking

A

A project schedule compression technique that overlaps (or performs in parallel) activities that would ordinarily be performed sequentially.F

192
Q

APICS Deck 10

direct labor cost

A

The compensation of workers who are involved in converting material into a finished product.D

193
Q

APICS Deck 10

participative management

A

A system that encompasses various activities of high involvement in which subordinates share a significant degree of decision-making power with their immediate superiors. Participative management draws on the rationale that everyone in an organization is capable of and willing to help guide and direct the organization toward agreed-on goals and objectives.P

194
Q

APICS Deck 10

process map

A

A diagram of the flow of a production process or service process through the production system. Standardized symbols are used to designate processing, flow directions, branching decisions, input/output, and other aspects of the process.P

195
Q

APICS Deck 10

tended to be limited

A

they only had to meet the demands of human users entering and retrieving data. With the emergence of e-commerce and internet search engines, database technology is evolving to manage humans and computers. Today, with the amount of data growing by 50 percent each year, it is information technology that is capable of managing, processing, and finding value.B

196
Q

APICS Deck 10

distribution requirements planning (DRP)

A

1) The function of determining the need to replenish inventory at branch warehouses. A time-phased order point approach is used where the planned orders at the branch warehouse level are “exploded” via MRP logic to become gross requirements on the supplying source. In the case of multilevel distribution networks, this explosion process can continue down through the various levels of regional warehouses (master warehouse, factory warehouse, etc.) and become input to the master production schedule. Demand on the supplying sources is recognized as dependent, and standard MRP logic applies. 2) More generally, replenishment inventory calculations, which may be based on other planning approaches such as period order quantities or “replace exactly what was used,” rather than being limited to the time-phased order point approach.D

197
Q

APICS Deck 10

supplier-managed inventory

A

A relationship where the buyer maintains inventory usually at its facility and provides the supplier information about the amount of stock on hand. It is the responsibility of the supplier to monitor this information and send replacement items when the inventory reaches a particular level.S

198
Q

APICS Deck 10

destructive testing

A

Inspection that renders the inspected part inoperable.D

199
Q

APICS Deck 10

demographics

A

The characteristics of a specific population, such as a set of potential customers.D

200
Q

APICS Deck 10

process yield

A

See: yield.P

201
Q

APICS Deck 10

long-term production plan

A

Syn: aggregate production plan.L

202
Q

APICS Deck 10

supply chain

A

The global network used to deliver products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.S

203
Q

APICS Deck 10

wait time

A

The time a job remains at a work center after an operation is completed until it is moved to the next operation. It is often expressed as a part of move time.W

204
Q

APICS Deck 10

shipping lane

A

A specific route that ocean liners take between ports to help traffic flow and to avoid the most dangerous areas of the ocean.S

205
Q

APICS Deck 10

entrepreneur

A

One who organizes resources productively and bears the risk of the venture.E

206
Q

APICS Deck 10

Gantt chart

A

The earliest and best-known type of planning and control chart, especially designed to show graphically the relationship between planned performance and actual performance over time. Named after its originator, Henry L. Gantt, the chart is used for (1) machine loading, in which one horizontal line is used to represent capacity and another to represent load against that capacity; or (2) monitoring job progress, in which one horizontal line represents the production schedule and another parallel line represents the actual progress of the job against the schedule in time. Syn: job progress chart, milestone chart.G

207
Q

APICS Deck 10

date effectivity

A

A technique used to identify the effective date of a configuration change. A component change is controlled by effective date within the bill of material for the unchanged parent part number.D

208
Q

APICS Deck 10

PMBOK®

A

Abbreviation for project management body of knowledge. A registered trademark of the Project Management Institute, Inc.P

209
Q

APICS Deck 10

production kanban

A

A signal, usually a card, used to trigger the production of a part.P

210
Q

APICS Deck 10

conformance perspective

A

A measure of how closely a product or service performs to its intended quality.C

211
Q

APICS Deck 10

controlled access

A

Fenced or walled areas within a warehouse or yard usually monitored by security cameras. These areas are used to store high-value items.C

212
Q

APICS Deck 10

TCP/IP

A

Abbreviation for transmission control protocol/ internet protocol.T

213
Q

APICS Deck 10

brand recognition

A

The degree to which customers recognize a particular brand identity and associate it with a particular product line relative to other available brands.B

214
Q

APICS Deck 10

trend adjusted exponential smoothing forecasting

A

A form of exponential smoothing forecasting that includes T a factor for increasing or decreasing tendencies in the data due to things such as population growth or income changes.T

215
Q

APICS Deck 10

event-on-node network

A

Syn: activity-on-node network.E

216
Q

APICS Deck 10

cost of lost sales

A

Profit that is foregone because of a stock-out situation.C

217
Q

APICS Deck 10

chain of customers

A

The sequence of customers who in turn consume the output of each other, forming a chain. For example, individuals are customers of a department store, which in turn is the customer of a producer, who is the customer of a material supplier.C

218
Q

APICS Deck 10

business intelligence

A

Information collected by an organization on customers, competitors, products or services, and processes. Business intelligence provides organizational data in such a way that the organizational knowledge filters can easily associate with this data and turn it into information for the organization. Persons involved in business intelligence processes may use application software and other technologies to gather, store, analyze, and provide access to data, and present that data in a simple, useful manner. The software aids in business performance management and aims to help consumers make better business decisions by offering them accurate, current, and relevant information. Some businesses use data warehouses because they are a logical collection of information gathered from various operational databases for the purpose of creating business intelligence.B

219
Q

APICS Deck 10

wide area network (WAN)

A

A public or private data communication system for linking computers distributed over a large geographic area.W

220
Q

APICS Deck 10

IFB

A

Abbreviation for invitation for bid.I

221
Q

APICS Deck 10

quick ratio

A

Syn: quick asset ratio.Q

222
Q

APICS Deck 10

scheduling (MDS)

A

A technique that schedules materials before processors (equipment or capacity). This technique facilitates the efficient use of materials. MDS can be used to schedule each stage in a process flow scheduling system. MRP systems use materialdominated scheduling logic. See: processor-dominated scheduling.M

223
Q

APICS Deck 10

machine center

A

A production area consisting of one or more machines (and, if appropriate for capacity planning, the necessary support personnel) that can be considered as one unit for capacity requirements planning and detailed scheduling.M

224
Q

APICS Deck 10

master scheduling

A

The process where the master schedule is generated and reviewed and adjustments made to the master production schedule to ensure consistency with the production plan. The master production schedule (the line on the grid) is the primary input to the material requirements plan. The sum of the master production schedules for the items within the product family must equal the production plan for that family.M

225
Q

APICS Deck 10

velocity

A

1) The rate of change of an item with respect to time. See: inventory turnover, lead time. 2) In supply chain management, a term used to indicate the relative speed of all transactions, collectively, within a supply chain community. A maximum velocity is most desirable because it indicates higher asset turnover for stockholders and faster order-to-delivery response for customers.V

226
Q

APICS Deck 10

cash flow

A

The net flow of dollars into or out of the proposed project. The algebraic sum, in any time period, of all cash receipts, expenses, and investments. Also called cash proceeds or cash generated.C

227
Q

APICS Deck 10

can-order point

A

An ordering system used when multiple items are ordered from one vendor. The can-order point is a point higher than the original order point. When any one of the items triggers an order by reaching the mustorder point, all items below their can-order point are also ordered. The can-order point is set by considering the additional holding cost that would be incurred should the item be ordered early.C

228
Q

APICS Deck 10

accounts receivable

A

The value of goods shipped or services rendered to a customer on which payment has not yet been received. Usually includes an allowance for bad debts.A

229
Q

APICS Deck 10

control system

A

A system that has as its primary function the collection and analysis of feedback from a given set of functions for the purpose of controlling the functions. Control may be implemented by monitoring or systematically modifying parameters or policies used in those functions, or by preparing control reports that inconvergent C itiate useful action with respect to significant deviations and exceptions.C

230
Q

APICS Deck 10

WAN

A

Acronym for wide area network.W

231
Q

APICS Deck 10

customer service management process

A

A process that enables a business to offer post-purchase service and information to the customer.C

232
Q

APICS Deck 10

customer order

A

An order from a customer for a particular product or a number of products. It is often referred to as an actual demand to distinguish it from a forecasted demand. See: booked orders.C

233
Q

APICS Deck 10

Monopolistic competition

A

Many competitors offer partially differentiated products or services. Most competitors focus on market segments where they can meet customers’ needs somewhat better than their competitors;

234
Q

APICS Deck 10

cost-ratio plan

A

A variation of the weighted-point plan of supplier evaluation and selection. The cost ratio is obtained by dividing the bid price by the weighted scores determined by the weighted-point plan. This procedure determines the true costs by taking into account compensating factors. Suppliers are selected and/or evaluated based on the lowest cost ratio.C

235
Q

APICS Deck 10

gross national product (GNP)

A

The market value of all goods and services produced in a nation in a given year.G

236
Q

APICS Deck 10

baseband coax

A

A coaxial cable offering a single channel for text, voice, or video transmission.B

237
Q

APICS Deck 10

returns management process

A

A process of handling returns that includes environmentally sound disposal or recycling, composing repair instructions, warranty repairs, and collecting return data.R

238
Q

APICS Deck 10

space buffer

A

Physical space immediately after the constraint that can accommodate output from the constraint when there is a stoppage downstream that would otherwise force the constraint to stop too.S

239
Q

APICS Deck 10

exception report

A

A report that lists or flags only those items that deviate from the plan.E

240
Q

APICS Deck 10

order fulfillment lead times

A

The average amount of time between the customer’s order until the customer receives delivery; this includes every manufacturing or processing step in between.O

241
Q

APICS Deck 10

decentralized authority

A

The process of dispersing decision-making governance to staff people below the executive level of an organization.D

242
Q

APICS Deck 10

hansei

A

A Japanese word meaning reflection.H

243
Q

APICS Deck 10

supplier performance evaluation

A

Monitoring and evaluating key suppliers on cost, quality, engineering, purchasing, and so on, based on an agreed set of measurements.S

244
Q

APICS Deck 10

pilot plant

A

A small-scale production facility used to develop production processes and to manufacture small quantities of new products for field testing and so forth. Syn: semiworks.P

245
Q

APICS Deck 10

subcontractor and supplier networks

A

Creating longterm contracts between a manufacturer and several suppliers of parts and components.S

246
Q

APICS Deck 10

production line

A

A series of pieces of equipment dedicated to the manufacture of a specific number of products or families.P

247
Q

APICS Deck 10

order reporting

A

Recording and reporting the start and completion of the manufacturing order (shop order) in its entirety.O

APICS (11 decks)

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