APICS Deck 2 OO Flashcards

1
Q

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Term

A

Definition

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2
Q

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research and development (R&D)

A

A function that performs basic and applied research and develops potential new products.R

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3
Q

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file

A

An organized collection of records.F

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4
Q

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aftermarket

A

A secondary market for parts and accessories used to repair or enhance an item.A

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5
Q

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hybrid layout

A

This layout combines two or more layout types.H

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6
Q

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sample standard deviation

A

A key measure that represents the spread or dispersion of a sample.S

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7
Q

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extended enterprise

A

The notion that supply chain partners form a larger entity. See: supply chain community.E

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8
Q

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output standard

A

The expected number of units from a process against which actual output will be measured.O

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9
Q

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mean squared error (MSE)

A

A measure of statistical variation in a forecast. Computed by squaring the forecast errors and then taking the average of the sum of the squared errors.M

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10
Q

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FIFO

A

Acronym for first in, first out.F

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11
Q

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modular design strategy

A

The strategy of planning and designing products so that components or subassemblies can be used in current and future products or assembled to produce multiple configurations of a M product. Automobiles and personal computers are examples of modular designs.M

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12
Q

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company stock

A

generally tied into the compensation/ benefits package. The intention is to give workers a feeling of participation in the management and direction of the company.E

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13
Q

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cold chain

A

A term referring to the storage, transfer, and supply chain of temperature-controlled products. Industries in the cold chain include food and agriculture, pharmaceuticals, and chemicals.C

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14
Q

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normal and proper usage

A

Operation of the equipment with a program of regular maintenance in accordance with generally accepted practices and within the rated capacity and service classification for which it was specified and designed.N

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15
Q

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SBQ

A

Abbreviation for standard batch quantity.S

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16
Q

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CPIM

A

Abbreviation for Certified in Production and Inventory Management.C

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17
Q

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effectivity date

A

Syn: effective date.E

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18
Q

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standard service

A

Service that is the same for most customers.S

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19
Q

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production reporting and status control

A

A vehicle to provide feedback to the production schedule and allow for corrective action and maintenance of valid on-hand and on-order balances. Production reporting and status control normally include manufacturing order authorization, release, acceptance, operation start, delay reporting, move reporting, scrap and rework reporting, order close-out, and payroll interface. Syn: manufacturing order reporting, shop order reporting.P

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20
Q

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OC curve

A

Abbreviation for operating characteristic curve.O

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21
Q

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economic value added

A

In managerial accounting, the net operating profit earned above the cost of capital for a profit center.E

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22
Q

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buffer

A

1) A quantity of materials awaiting further processing. It can refer to raw materials, semifinished stores or hold points, or a work backlog that is purposely maintained behind a work center. 2) In the theory of constraints, buffers can be time or material and support throughput and/or due date performance. B Buffers can be maintained at the constraint, convergent points (with a constraint part), divergent points, and shipping points.B

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23
Q

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FTP

A

Abbreviation for file transfer protocol.F

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24
Q

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conference room pilot

A

Simulation of all business processes from end-to-end within the new information system in a controlled environment.C

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25
Q

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attribute data

A

Go/no-go information. The control charts based on attribute data include percent chart, number of affected units chart, count chart, count-per-unit chart, quality score chart, and demerit chart. See: attribute, attribute inspection.A

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26
Q

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critical path lead time

A

Syn: cumulative lead time.C

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27
Q

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minimum order quantity

A

An order quantity modifier, applied after the lot size has been calculated, that increases the order quantity to a pre-established minimum.M

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28
Q

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market research

A

Syn: marketing research.M

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29
Q

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dividend

A

A payment to stockholders either in cash or stock.D

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30
Q

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JIT supplier environment

A

To effectively participate as a supplier under just in time (JIT), a company must supply components and subassemblies in exact quantities, delivery time, and quality. Shipments are made within narrow time windows that are rigidly enforced. Virtually every component must be delivered on time and be within specifications.J

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31
Q

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assignable cause

A

A source of variation in a process that can be isolated, especially when it’s significantly larger magnitude or different origin readily distinguishes it from random causes of variation. Syn: special cause. See: common causes, assignable variation.A

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32
Q

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DBR

A

Abbreviation for drum-buffer-rope.D

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33
Q

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indirect costs

A

Costs that are not directly incurred by a particular job or operation. Certain utility costs, such as plant heating, are often indirect. An indirect cost is typically distributed to the product through the overhead rates.I

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34
Q

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category management

A

In marketing, an organizational structure giving managers responsibility for planning and implementing marketing systems for certain product lines.C

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35
Q

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business service

A

The software aspect of electronic commerce. It performs activities, such as encryption, that are required to support business transactions.B

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36
Q

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labor rate variance

A

Labor rate variance is the sum of the actual wage rate minus the standard wage rate multiplied by the actual number of labor hours. The variance is unfavorable if the actual rate is greater than the standard rate.L

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37
Q

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mixed production strategy

A

Syn: hybrid production method. See: chase production method, level production method.M

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38
Q

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unit load concept

A

Waiting for a container or pallet to be filled before the material is moved.U

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39
Q

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pure services

A

Services that result in few or no tangible products to the customer (e.g., education).P

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40
Q

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return material authorization (RMA)

A

1) A form that must be completed that describes the product returned and why it was returned. 2) A number given to authorize the acceptance of returned items. 3) Should require signatory authorization to return the goods.R

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41
Q

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run size

A

Syn: standard batch quantity.R

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42
Q

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short-term planning

A

The function of adjusting limits or levels of capacity within relatively short periods of time, such as parts of a day, a day, or a week.S

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43
Q

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neural network

A

A software system loosely based on how the brain works. It tries to simulate the multiple layers of elements called neurons. Each neuron is tied to several neighbors with a value that signifies the strength of the connections. Learning is accomplished by changing the values to cause the network to report appropriate results. Neural networks have been used for market forecasts and other applications.N

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44
Q

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unit-size

A

To combine a number of packages into one unit by attaching them together.U

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45
Q

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monitoring

A

The process of comparing actual to planned progress.M

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46
Q

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item

A

Any unique manufactured or purchased part, material, intermediate, subassembly, or product.I

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47
Q

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purchasing lead time

A

The total lead time required to obtain a purchased item. Included here are order preparation and release time; supplier lead time; transportation time; and receiving, inspection, and put-away time. See: lead time, supplier lead time, time-to-product.P

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48
Q

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shipping lead time

A

The number of working days normally required for goods to move between a shipping and receiving point, plus acceptance time in days at the receiving point.S

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49
Q

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line item

A

One item on an order, regardless of quantity.L

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50
Q

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Pareto chart

A

A bar graph that displays the results of a Pareto analysis. It may or may not display the 80-20 varPareto P iation, but it does show a distinct variation from the few compared to the many.P

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51
Q

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Deming circle

A

The concept of a continuously rotating wheel of plan-do-check-action (PDCA) used to show the need for interaction among market research, design, production, and sales to improve quality. See: plan-docheck- action.D

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52
Q

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QCD

A

Abbreviation for quality, cost, delivery.Q

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53
Q

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algorithm

A

A prescribed set of well-defined rules or processes for solving a problem in a finite number of steps (e.g., the full statement of the arithmetic procedure for calculating the reorder point).A

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54
Q

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methods-time measurement (MTM)

A

A system of predetermined motion-time standards, a procedure that analyzes and classifies the movements of any operation into certain human motions and assigns to each motion a predetermined time standard selected by the nature of the motion and the conditions under which it will be made.M

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55
Q

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material-dominated 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 material-dominated scheduling logic. See: processordominated scheduling.M

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56
Q

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Pareto’s law

A

A concept developed by Vilfredo Pareto, an Italian economist, that states that a small percentage of a group accounts for the largest fraction of the impact, value, and so on. In an ABC classification, for example, 20 percent of the inventory items may constitute 80 percent of the inventory value. See: ABC classification, 80-20.P

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57
Q

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LIFO

A

Acronym for last in, first out.L

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58
Q

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customer/order fulfillment process

A

A series of customers’ interactions with an organization through the order filling process, including product/service design, production and delivery, and order status reporting.C

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59
Q

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customer partner

A

A customer organization with which a company has formed a customer-supplier partnership. See: outpartnering.C

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60
Q

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industrial trucks

A

Vehicles powered by hand, electricity, or propane for material handling activities in a warehouse. More flexible but slower and less constant than conveyors, they are not in a fixed position. Industrial trucks are the most-common form of materials handling equipment.I

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61
Q

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learning curve

A

A curve reflecting the rate of improvement in time per piece as more units of an item are made. A planning technique, the learning curve is particularly useful in project-oriented industries in which new products are frequently phased in. The basis for the learning curve calculation is that workers will be able to produce the product more quickly after they get used to making it. Syn: experience curve, manufacturing progress curve.L

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62
Q

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feasibility study

A

An analysis designed to establish the practicality and cost justification of a given project and, if it appears to be advisable to do so, to determine the direction of subsequent project efforts.F

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63
Q

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spread

A

Variability of an action. Often measured by the range or standard deviation of a particular dimension.S

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64
Q

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overstated master production schedule

A

A schedule that includes either past due quantities or quantities that are greater than the ability to produce, given current capacity and material availability. An overstated MPS should be made feasible before MRP is run.O

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65
Q

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flexible automation

A

Automation that provides short setup times and the ability to switch quickly from one product to another.F

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66
Q

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travel time

A

Syn: transit time.T

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67
Q

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bona fide

A

Latin for “in good faith.”B

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68
Q

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materials handling system

A

The system of transportation that receives, moves, and delivers materials during the production or distribution process.M

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69
Q

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collaborative transportation management

A

A method of sharing information among suppliers, buyers, and transporters to add value to the service.C

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70
Q

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MTTR

A

Abbreviation for mean time to repair.M

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71
Q

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export compliance

A

Cooperating with export rules regarding packaging and documentation.E

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72
Q

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offset quantity

A

Syn: overlap quantity.O

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73
Q

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functional test

A

Measure of a production component’s ability to work as designed to meet a level of performance.F

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74
Q

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traveler

A

A copy of the manufacturing order that actually moves with the work through the shop. Syn: shop traveler.T

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75
Q

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variable overhead

A

All manufacturing costs, other than direct labor and direct materials, that vary directly with production volume. Variable overhead is necessary to produce the product, but cannot be directly assigned to a specific product.V

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76
Q

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finish-to-order

A

Syn: assemble-to-order.F

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77
Q

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hazardous waste

A

Waste, such as chemicals or nuclear material, that is hazardous to humans or animals and requires special handling.H

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78
Q

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statistical thinking

A

The ability to draw conclusions based on data.S

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79
Q

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prevention vs. detection

A

A term used to contrast two types of quality activities. Prevention refers to those activities designed to prevent nonconformances in goods and services. Detection refers to those activities designed to detect nonconformances already in goods and services. Syn: designing in quality vs. inspecting in quality.P

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80
Q

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backup/restore

A

The procedure of making backup copies of computer files or disks and, in case of loss of or damage to the original, using the backups to restore the files or disks. In such a case, the only work lost is that done since the backup was made.B

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81
Q

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trading company

A

A company that introduces foreign buyers and sellers and arranges all product export/import details, documentation, and transportation.T

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82
Q

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empathy

A

A dimension of service quality referring to caring, individualized attention from a service firm.E

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83
Q

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exchange rate

A

The rate at which one currency converts to another.E

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84
Q

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inventory velocity

A

The speed with which inventory passes through an organization or supply chain at a given point in time as measured by inventory turnover. See: inventory turnover.I

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85
Q

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process oriented

A

A characteristic in which the focus is on the interrelated processes in a business environment. It includes the activities to transform inputs into outputs that have value.P

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86
Q

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remanufactured parts

A

Components or assemblies that are refurbished or rebuilt to perform the original function. Syn: refurbished goods, refurbished parts.R

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87
Q

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provisioning

A

The process of identifying and purchasing the support items and determining the quantity of each support item necessary to operate and maintain a system.P

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88
Q

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container on a flatcar (COFC)

A

A specialized form of containerization in which rail, motor, and sea transport coordinate.C

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89
Q

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decision variables

A

The variables that will be changed to find the optimal solution in an optimization problem.D

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90
Q

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CNC

A

Abbreviation for computer numerical control.C

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91
Q

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cost performance index (CPI)

A

A measure of project efficiency. Earned value over actual costs.C

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92
Q

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disassembly bill of material

A

In remanufacturing, a bill of material used as a guide for the inspection in the teardown and inspection process. On the basis of inspection, this bill is modified to a bill of repair defining the actual repair materials and work required. Syn: teardown bill of material. See: repair bill of material.D

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93
Q

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double smoothing

A

Syn: second-order smoothing.D

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94
Q

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BPM

A

Abbreviation for business process management.B

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95
Q

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implosion

A

The process of determining the where-used relationship for a given component. Implosion can be single-level (showing only the parents on the next higher level) or multilevel (showing the ultimate top-level parent). See: where-used list. Ant: explosion.I

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96
Q

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obeya

A

A Japanese word meaning “big room,” a command center.O

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97
Q

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managerial accounting

A

A branch of accounting that uses techniques such as break-even analysis, costvolume- profit analysis, make-buy analysis, and others to provide information used in day-to-day decision making.M

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98
Q

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regen

A

Slang abbreviation for regeneration MRP. Pronounced “ree-jen.”R

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99
Q

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trust

A

A fiduciary relationship in which the trustee holds ownership for the benefit of another party (benefactor).T

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100
Q

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PERT

A

Acronym for program evaluation and review technique.P

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101
Q

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offshore factory

A

A plant that imports or acquires locally all components and then exports the finished product.O

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102
Q

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chase-demand strategy

A

Syn: chase production method.C

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103
Q

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setup costs

A

Costs such as scrap costs, calibration costs, downtime costs, and lost sales associated with preparing the resource for the next product. Syn: changeover costs, turnaround costs.S

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104
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resiliency

A

Resiliency in the supply chain is the ability to return to a position of equilibrium after experiencing an event that causes operational results to deviate from expectations. Resiliency is increased by strategically increasing the number of response options and/or decreasing the time to execute those options. Resiliency is improved by risk monitoring and control.R

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105
Q

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load projection

A

Syn: load profile.L

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106
Q

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time-based competition (TBC)

A

A corporate strategy that emphasizes time as the vehicle for achieving and maintaining a sustainable competitive edge. Its characteristics are (1) it deals only with those lead times that are important to the customers; (2) the leadtime reductions must involve decreases in both the mean and the variance; and (3) the lead-time reductions must be achieved through system/process analysis (the processes must be changed to reduce lead times). TBC is a broad-based strategy. Reductions in lead times are achieved by changing the processes and the decision structures used to design, produce, and deliver products to the customers. TBC involves design, manufacturing, and logistical processes.T

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107
Q

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local rate

A

A rate pertaining to two points served by a single carrier.L

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108
Q

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standard industrial classification (SIC)

A

Classification codes that are used to categorize companies into industry groupings.S

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109
Q

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hypertext transfer protocol (HTTP)

A

A protocol that tells computers how to communicate with each other. Most internet addresses begin with http://.H

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110
Q

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business process reengineering (BPR)

A

A procedure that involves the fundamental rethinking and radical redesign of business processes to achieve dramatic organizational improvements in such critical measures of performance as cost, quality, service, and speed. Any BPR activity is distinguished by its emphasis on (1) process rather than functions and products and (2) the customers for the process.B

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111
Q

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throughput time

A

Syn: cycle time (second definition).T

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112
Q

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primary operation

A

A manufacturing step normally performed as part of a manufacturing part’s routing. Ant: alternate operation.P

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113
Q

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top management commitment (quality)

A

In the total quality management philosophy, participation of the highest-level official in the organization’s quality improvement efforts. Participation includes establishing and serving on a quality committee, establishing quality policies and goals, deploying those goals to lower levels of the organization, providing the resources and training that the lower levels need to achieve the goals, participating in quality improvement teams, reviewing organization-wide progress, recognizing those who have performed well, and revising the current reward system to reflect the importance of achieving the quality goals.T

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114
Q

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supplier partnership

A

The establishment of a working relationship with a supplier organization whereby two organizations act as one. Syn: collaborative supply relationship.S

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115
Q

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scope change

A

In project management, a change to a project’s scope, usually requiring an adjustment to the project’s budget and schedule.S S

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116
Q

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net present value

A

The present (discounted) value of future earnings (operating expenses have been deducted from net operating revenues) for a given number of time periods.N

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117
Q

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drawback

A

A refund of customs duties paid on material imported and later exported.D

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118
Q

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industry analysis

A

A major study of an industry; its major competitors, customers, and suppliers; and the focus and driving forces within that industry.I

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119
Q

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MSDS

A

Abbreviation for material safety data sheet.M

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120
Q

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composite manufacturing lead time

A

Syn: cumulative manufacturing lead time.C

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121
Q

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PLM

A

Abbreviation for product life cycle management.P

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122
Q

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three-point estimate

A

A project management technique that uses three cost or duration estimates to stand for the optimistic (O), most likely (M), and pessimistic (P) situation. The mean value (MV) is often found using MV=(O+4M+P)/6. This technique can improve the accuracy of cost or duration estimates when underlying assumptions are uncertain.T

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123
Q

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launch phase

A

In this last phase of product development, either the product is fed into the supply chain or the service is made available to consumers.L

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124
Q

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secure server

A

In e-commerce, a web server that protects users’ messages from interception while being transmitted over the internet.S

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125
Q

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earliness

A

If a job is finished before its due date, the difference between its completion date and the due date. See: lateness, tardiness.E

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126
Q

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Pareto analysis

A

Use of the Pareto principle in prioritizing or ranking a range of items to separate the vital few from the trivial many.P

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127
Q

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grievance

A

A complaint by an employee concerning alleged contract violations handled formally through contractually fixed procedures. If unsettled, a grievance may lead to arbitration.G

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128
Q

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mean

A

The arithmetic average of a group of values. Syn: arithmetic mean.M

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129
Q

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sample

A

A portion of a universe of data chosen to estimate some characteristics about the whole universe. The universe of data could consist of sizes of customer orders, number of units of inventory, number of lines on a purchase order, and so forth.S

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130
Q

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control phase

A

One of the six sigma phases of quality. Process performance is observed, often with control charts, for steady results.C

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131
Q

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experience curve

A

Syn: learning curve.E

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132
Q

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scheduled downtime

A

Planned shutdown of equipment or plant to perform maintenance or to adjust to softening demand.S

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133
Q

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channel conflict

A

Two or more agencies of one business competing for the same customer. For example, retail, catalog, or web sales.C

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134
Q

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sales plan

A

A time-phased statement of expected customer orders anticipated to be received (incoming sales, not outgoing shipments) for each major product family or item. It represents sales and marketing management’s commitment to take all reasonable steps necessary to achieve this level of actual customer orders. The sales plan is a necessary input to the production planning process (or sales and operations planning process). It is expressed in units identical to those used for the production plan (as well as in sales dollars). See: aggregate planning, production plan, production planning, sales and operations planning.S

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135
Q

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contributory negligence

A

A rule under which a defendant may escape liability if it can be shown that the plaintiff was negligent to some extent.C

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136
Q

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private key

A

In information systems, an encryption key that is known only by the sender and receiver of the message. See: public key.P P

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137
Q

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late order

A

Syn: past due order.L

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138
Q

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demand shaping

A

The practice of using the four Ps (product, pricing, placement, and promotion) and other market variables to influence the demand of a product or service so that the demand better matches the available supply. See: four Ps.D

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139
Q

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SPI

A

Abbreviation for schedule performance index.S

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140
Q

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marketing mix

A

The concept that marketing strategy selects product, price, promotion, and channel targets in selected markets.M

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141
Q

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project manufacturing

A

A type of manufacturing process used for large, often unique, items or structures that require a custom design capability (engineer-to-order). This type of process is highly flexible and can cope with a broad range of product designs and design changes. Product manufacturing usually uses a fixed-position type layout. See: batch (fourth definition), continuous production, job shop (second definition), process manufacturing, project, repetitive manufacturing.P

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142
Q

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reconciling inventory

A

Comparing the physical inventory figures with the perpetual inventory record and making any necessary corrections.R

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143
Q

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econometric model

A

A set of equations intended to be used simultaneously to capture the way in which dependent and independent variables are interrelated.E

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144
Q

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quantity discount model

A

A variation of the economic order quantity model in which the assumption of a single price is relaxed and there is a schedule of prices based on specific volumes. Syn: price-break model.Q

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145
Q

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order policy code

A

Syn: lot-size code.O

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146
Q

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accept

A

The receipt of an item as being complete and sound.A

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147
Q

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return merchandise authorization

A

Syn: return material authorization.R

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148
Q

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online processing

A

A method of computer processing in which data are processed immediately on entry into the computer.O

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149
Q

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treasury stock

A

Common stock that has been repurchased by the issuing company.T

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150
Q

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supplies

A

Materials used in manufacturing that are not normally charged to finished production, such as cutting and lubricating oils, machine repair parts, glue, or tape. Syn: general stores, indirect materials.S

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151
Q

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end product

A

Syn: end item.E

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152
Q

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international standards

A

Standards established by international standards-setting organizations to promote interoperability among operating environments.I

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153
Q

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discrete variable

A

A variable, such as number of defects, that can take on only certain values (such as integers). See: continuous variable.D

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154
Q

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inventory planner

A

Syn: material planner (first definition).I

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155
Q

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software as a service

A

Computer services are provided by a third party that keeps all of the software and hardware in its place of business and the company using the services accesses them via the internet. A very common technique used to outsource technological state-of-theart costs that can be avoided.S

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156
Q

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broadcast system

A

A sequence of specific units to be assembled and completed at a given rate. This sequence is communicated to supply and assembly activities to perform operations and position material so that it merges with the correct assembled unit.B

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157
Q

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3D printing

A

The process of layering materials to make products and components using computer data. Syn: additive manufacturing. See: rapid prototyping.3

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158
Q

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isolation

A

The determination of the location of a failure through the use of accessory support and diagnostic equipment.I

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159
Q

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executive information system

A

A software application used by top managers, without assistance, to access information on the current organizational status.E E

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160
Q

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post deduct

A

In a JIT system, work in process materials used to build finished goods are relieved from inventory by multiplying the number of units completed by the number of parts in the bill of material. Effective only if the bill of material is accurate and manufacturing lead times are short. See: backflushing.P

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161
Q

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machine hours

A

The amount of time, in hours, that a machine is actually running. Machine hours, rather than labor hours, may be used for planning capacity for scheduling, and for allocating costs.M

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162
Q

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production level

A

Syn: production rate.P

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163
Q

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form utility

A

The value created by changing a good’s form through a production process.F

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164
Q

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motion study

A

A type of methods study focused on therbligs, basic hand and body movements. See: therblig.M

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165
Q

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internal rate of return

A

The rate of compound interest at which the company’s outstanding investment is repaid by proceeds from the project.I

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166
Q

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actual demand

A

Actual demand is composed of customer orders (and often allocations of items, ingredients, or raw materials to production or distribution). Actual demand nets against or “consumes” the forecast, depending upon the rules chosen over a time horizon. For example, actual demand will totally replace forecast inside the sold-out customer order backlog horizon (often called the demand time fence) but will net against the forecast outside this horizon based on the chosen forecast consumption rule.A

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167
Q

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value index

A

A measure that uses the performance and importance scores for various dimensions of performance for an item or service to calculate a score that indicates the overall value of an item or service to a customer.V

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168
Q

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central limit theorem

A

A theorem that states that a distribution consisting of sample means can be assumed to be normally distributed, even if the population from C which the samples are drawn is not normally distributed.C

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169
Q

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spoiled work order

A

Syn: rework order.S

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170
Q

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engineering order

A

Syn: experimental order.E

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171
Q

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electronic commerce (e-commerce)

A

The use of computer and telecommunication technologies to conduct business via electronic transfer of data and documents.E

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172
Q

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expert system

A

A type of artificial intelligence computer system that mimics human experts by using rules and heuristics rather than deterministic algorithms.E

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173
Q

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quick changeover

A

The ability to shorten machine setups between different machine operation requirements to increase process flexibility. Most concentration is on reducing external setup time first, then on internal setup issues. This reduces economic order quantity, queue and manufacturing lead times, and work in process inventory; it improves quality, process, and material flows.Q

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174
Q

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root cause analysis

A

Analytical methods to determine the core problem(s) of an organization, process, product, market, and so forth. See: current reality tree, five whys, stratification analysis.R

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175
Q

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cycle stock

A

One of the two main conceptual components of any item inventory, the cycle stock is the most active component; the cycle stock depletes gradually as customer orders are received and is replenished cyclically when supplier orders are received. The other conceptual component of the item inventory is the safety stock, which is a cushion of protection against uncertainty in the demand or in the replenishment lead time. Syn: cycle inventory.C

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176
Q

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appellant

A

One who appeals a court decision to higher authority.A

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177
Q

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double-declining-balance depreciation

A

A type of accelerated depreciation. See: depreciation.D

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178
Q

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design review

A

A technique for evaluating a proposed design to ensure that the design (1) is supported by adequate materials and materials that are available on a timely basis, (2) will perform successfully during use, (3) can be manufactured at low cost, and (4) is suitable for prompt field maintenance.D

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179
Q

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customer acquisition

A

In marketing, the rate at which new customers are switching to an organization’s brand.C

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180
Q

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shrinkage

A

Reductions of actual quantities of items in stock, in process, or in transit. The loss may be caused by scrap, theft, deterioration, evaporation, and so forth.S

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181
Q

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(EDIFACT)

A

A set of United Nations rules for electronic data interchange. These are international guidelines and standards for the electronic exchange of data regarding trade.E

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182
Q

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economic lot size

A

Syn: economic order quantity.E

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183
Q

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Toyota Production System (TPS)

A

A manufacturing methodology developed at Toyota that has evolved into the concepts of just in time and lean manufacturing.T

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184
Q

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long-term planning

A

Business planning that addresses the strategic needs of the organization. See: business plan, resource planning.L

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185
Q

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order promising

A

The process of making a delivery commitment (i.e., answering the question “When can you ship?”). For make-to-order products, this usually involves a check of uncommitted material and availability of capacity, often as represented by the master schedule available-to-promise. Syn: customer order promising, order dating. See: available-to-promise, order service.O

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186
Q

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standard error

A

A measurement of the variability of statistics such as the sample mean. See: estimate of error.S

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187
Q

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consumer

A

A person who purchases a good or service for his or her own use (not for resale). See: customer.C

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188
Q

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forward flow scheduling

A

A procedure for building process train schedules that starts with the first stage and proceeds sequentially through the process structure until the last stage is scheduled.F

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189
Q

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amortization

A

The process of recovering (via expensing) a capital investment over a period of time. See: capital recovery.A

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190
Q

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transfer pricing

A

The pricing of goods or services transferred from one segment of a business to another. See: interplant transfer.T

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191
Q

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assembly bin

A

Syn: accumulation bin.A

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192
Q

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process capability analysis

A

A procedure to estimate the parameters defining a process. The mean and standard deviation of the process are estimated and compared to the specifications, if known. This comparison is the basis for calculating capability indexes. In addition, the form of the relative frequency distribution of the characteristic of interest may be estimated. Syn: capability study. See: process capability.P

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193
Q

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distribution cost

A

Those items of cost related to the activities associated with the movement and storage of finished products. Distribution costs can include invendistribution D tory costs, transportation costs, and order processing costs.D

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194
Q

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anticipation order

A

An order placed before an item has been made available for delivery.A

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195
Q

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forward integration

A

Process of buying or owning elements of the production cycle and the channel of distribution forward toward the final customer. See: vertical integration.F

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196
Q

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forecasting

A

The business function that attempts to predict sales and use of products so they can be purchased or manufactured in appropriate quantities in advance.F

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197
Q

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planning horizon

A

The amount of time a plan extends into the future. For a master schedule, this is normally set to cover a minimum of cumulative lead time plus time for lot sizing low-level components and for capacity changes of primary work centers or of key suppliers. For longer term plans the planning horizon must be long enough to permit any needed additions to capacity. See: cumulative lead time, planning time fence.P

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198
Q

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gross margin

A

The difference between total revenue and the cost of goods sold. Syn: gross profit margin.G

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199
Q

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churn reduction

A

Not losing as many customers to the competition.C

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200
Q

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three-bin kanban

A

Simple kanban structure that focuses on cycling three bins of material continually and provides a visible method to align replenishment with consumption. One bin is ready to ship from the supplier at all times, while two are back to back in manufacturing/production at or near point of use. As the front bin empties, a signal is sent to the supplier to send a full bin and the back bin is issued forward into production. See: kanban.T

201
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theory of constraints accounting

A

A cost and managerial accounting system that accumulates costs and revenues

202
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synchronous scheduling

A

Scheduling processes (kanban in just in time and drum-buffer-rope in theory of constraints environments) that focus on synchronizing all operations to the constraint of the system. See: synchronized production.S

203
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material sublot

A

A uniquely identifiable subset of a material lot containing quantity and location. A sublot may be a single item.M

204
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planned load

A

The standard hours of work required by the planned production orders.P

205
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prepaid

A

A term denoting that transportation charges have been or are to be paid at the point of shipment by the sender.P

206
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on-time in full (OTIF)

A

A delivery scoring system that sets a target goal, usually in percent, and the deliverer tries to meet that goal of full deliveries and by the delivery date.O

207
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mean absolute percent error (MAPE)

A

A measure of statistical variation in a forecast. Computed by dividing each absolute forecast error by the actual demand, multiplying that by 100 to get the absolute percentage error, and computing the average.M

208
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backward pass

A

In the critical path method of project planning, working from the finish node backward through the network logic to the start node to determine the various late start dates and late finish dates. See: critical path method, forward pass.B

209
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time utility

A

When a delivery gets to a customer at exactly the right time (not early, not late).T T

210
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reorder point

A

Syn: order point.R

211
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retention efficiency

A

In marketing, a measurement of how well a company creates repeat customers.R

212
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parts requisition

A

An authorization that identifies the item and quantity required to be withdrawn from an inventory. Syn: requisition. See: purchase requisition.P

213
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configuration

A

The arrangement of components as specified to produce an assembly.C

214
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coefficient of correlation

A

A value used to express the relationship between two variables, whether there is a strong or weak correlation. The coefficient of correlation varies from 0 to 1 with values close to 0 indicating no relationship, or a weak relationship, and values close to 1 indicating a strong relationship. The existence of a relationship does not prove causality.C

215
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frequently asked questions (FAQs)

A

A list of commonly asked questions pertaining to a website (or perhaps software, hardware, and so on) along with the answers to these questions.F

216
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joint venture

A

An agreement between two or more firms to risk equity capital to attempt a specific business objective.J

217
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risk management planning

A

The process of defining how to identify and minimize risk factors for a project.R

218
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best-in-class

A

An organization, often from another industry, recognized for excellence in a specific process area. See: process benchmarking.B

219
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open-to-buy

A

A control technique used in aggregate inventory management in which authorizations to purchase are made without being committed to specific suppliers. These authorizations are often reviewed by management using such measures as commodity in dollars and by time period.O

220
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purchase price variance

A

The difference in price between the amount paid to the supplier and the planned or standard cost of that item.P

221
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average forecast error

A

1) The arithmetic mean of the forecast errors. 2) The exponentially smoothed forecast error. See: bias, forecast error.A

222
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intermodal marketing companies (IMCs)

A

Organizations that are the intermediary for shippers and intermodal rail carriers.I

223
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real time

A

The technique of coordinating data processing with external related physical events as they occur, thereby permitting prompt reporting of conditions. See: online service.R

224
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requirements traceability

A

The capability to determine the source of demand requirements through record linkages. It is used in analyzing requirements to make adjustments to plans for material or capacity. See: pegging.R

225
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EPC

A

Abbreviation for electronic product code.E

226
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arrival

A

In queuing theory, a unit that arrives for service, such as a person or part.A

227
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single-channel, single-phase system

A

A queuing system that has only one channel for arrivals to enter and only one phase to completely service the arrival.S

228
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point reporting

A

The recording and reporting of milestone manufacturing order occurrences, typically done at checkpoint locations rather than operations and easily controlled from a reporting standpoint.P

229
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DBMS

A

Abbreviation for database management system.D

230
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multinational corporation

A

A company with capital investments in more than a single country.M

231
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vertical integration

A

The degree to which a firm has decided to directly produce multiple value-adding stages from raw material to the sale of the product to the ultimate consumer. The more steps in the sequence, the greater the vertical integration. A manufacturer that decides to begin producing parts, components, and materials that it normally purchases is said to be backward integrated. Likewise, a manufacturer that decides to take over distribution and perhaps sale to the ultimate consumer is said to be forward integrated. See: backward integration, forward integration.V

232
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multilevel bill of material

A

A display of all the components directly or indirectly used in a parent, together with the quantity required of each component. If a component is a subassembly, blend, intermediate, etc., all its components and all their components also will be exhibited, down to purchased parts and raw materials.M

233
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electronic form

A

An electronic version of a paper form. These forms eliminate the cost of printing, storing, and distributing paper forms.E

234
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Fourier series

A

A form of analysis useful for forecasting. The model is based on fitting sine waves with increasing frequencies and phase angles to a time series.F

235
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five Ss

A

Five terms beginning with “S” used to create a workplace suitable for lean production. Sort means to separate needed items from unneeded ones and remove the latter. Simplify means to neatly arrange items for use. Scrub means clean up the work area. Standardize means to sort, simplify, and scrub daily. Sustain means to always follow the first four Ss. Sometimes referred to by the Japanese equivalents: seiri, seiton, seiso, seiketsu, and shitsuke.F

236
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formula

A

A statement of ingredient requirements. A formula may also include processing instructions and ingredient sequencing directions. Syn: formulation, recipe.F

237
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firm master production schedule

A

A part of the master production schedule in which changes can occur only rarely.F

238
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scatter chart

A

A graphical technique to analyze the relationship between two variables. Two sets of data are plotted on a graph, with the y axis used for the variable to be predicted and the x axis used for the variable to make the prediction. The graph will show possible relationships (although two variables might appear to be

239
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consignor

A

The originator of a shipment of freight.C

240
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steady state

A

Waiting lines are subject to wide fluctuations when they first are created in a simulation model. A less variable (steady) state emerges after the line has existed for some time. Usually data are not collected from the simulation until after steady state is reached. See: transient state.S

241
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union shop

A

A facility in which all hourly employees are unionized, or more formally a clause in a collective bargaining agreement under which membership in the union is required as a condition of employment. Union shops are illegal in some regions.U

242
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permission marketing

A

Syn: relationship marketing.P

243
Q

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quality policy

A

A top-management statement of the overall quality direction of an organization as required by ISO 9001.Q

244
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resource breakdown structure

A

A hierarchical structure that breaks resources into categories and types; can be useful for plan resource schedules, including human resources.R

245
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radio frequency identification (RFID)

A

A system using electronic tags to store data about items. Accessing these data is accomplished through a specific radio frequency and does not require close proximity or line-ofsight access for data retrieval. See: active tag, passive tag, semi-passive tag.R

246
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compound interest

A

1) The type of interest that is periodically added to the amount of investment (or loan) so that subsequent interest is based on the cumulative amount. 2) The interest charges under the condition that interest is charged on any previous interest earned in any time period, as well as on the principal.C

247
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express warranty

A

A positive representation, made by a seller, concerning the nature, character, use, and purpose of goods, that induces the buyer to buy and on which the seller intends the buyer to depend.E

248
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scheduled finish date

A

In project management, an activity’s planned finish time, normally between the early finish time and the late finish time. It may reflect resource limitations. Syn: planned finish date.S

249
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synchronized production

A

A manufacturing management philosophy that includes a consistent set of principles, procedures, and techniques where every action is evaluated in terms of the global goal of the system. Both kanban, which is a part of the JIT philosophy, and drum-buffer-rope, which is a part of the theory of constraints philosophy, represent synchronized production control approaches. Syn: synchronous manufacturing. See: drum-buffer-rope, kanban, synchronous scheduling.S

250
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earned value method

A

In project management, a comparison of planned activity time and cost to actual activity time and cost to see if a project is on schedule by time and by budget.E E

251
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linearity

A

1) Production at a constant quantity. 2) Use of resources at a level rate, typically measured daily or more frequently.L

252
Q

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fixed-cost contribution per unit

A

An allocation process where total fixed cost for a period is divided by total units produced in that given time period.F

253
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project scope

A

In project management, the work required to create a product with given features and options.P

254
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rescheduling assumption

A

A fundamental assumption of MRP logic that existing open orders can be rescheduled in nearer time periods far more easily than new orders can be released and received. As a result, planned order receipts are not created until all scheduled receipts have been applied to cover gross requirements.R

255
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project calendar

A

A calendar of working days and nonworking days that shows when scheduled activities are idle. Typically, it includes holidays and weekends. See: resource calendar.P

256
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bias

A

A consistent deviation from the mean in one direction (high or low). A normal property of a good forecast is that it is not biased. See: average forecast error.B

257
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equal runout quantities

A

Order quantities for items in a group that result in a supply that covers an equal time for all items. Syn: equal runout method. See: fair-share quantity logic.E

258
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operation time

A

The total of setup and run time for a specific task. Syn: operation duration.O

259
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operational performance measurements

A

1) In traditional management, performance measurements related to machine, worker, or department efficiency or utilization. These performance measurements are usually poorly correlated with organizational performance. 2) In theory of constraints, performance measurements that link causally to organizational performance measurements. Throughput, inventory, and operating expense are examples. See: global performance measurements, local performance measurements, strategic performance measurements.O

260
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bilateral contract

A

An agreement wherein each party makes a promise to the other party.B

261
Q

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economic order quantity (EOQ)

A

A type of fixed order quantity model that determines the amount of an item to be purchased or manufactured at one time. The intent is to minimize the combined costs of acquiring and carrying inventory. The basic formula is: quantity

262
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separable cost

A

A cost that is assignable to a given portion of a business.S

263
Q

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attribute

A

1) Quality control value that is either a yes/no value or is counted rather than being measured on a continuous scale. See: variable, attribute data. 2) A description of an item or service that specifies either a presence or an absence, such as “on-time” versus “late.”A

264
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external failure costs

A

The costs related to problems found after the product reaches the customer. This usually includes such costs as warranty and returns.E

265
Q

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ISO

A

Abbreviation for International Organization for Standardization.I

266
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statistical inventory control

A

The use of statistical methods to model the demands and lead times experienced by an inventory item or group of items. Demand during lead time and between reviews can be modeled, and reorder points, safety stocks, and maximum inventory levels can be defined to strive for desired customer service levels, inventory investments, manufacturing and distribution efficiency, and targeted returns on investments. Syn: scientific inventory control. See: fixed reorder quantity inventory model.S

267
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expedite

A

To rush or chase production or purchase orders that are needed in less than the normal lead time; to take extraordinary action because of an increase in relative priority. Syn: stockchase.E

268
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bill-of-material explosion

A

The process of determining component identities, quantities per assembly, and other parent/component relationship data for a parent item. Explosion may be single level, indented, or summarized.B

269
Q

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make-or-buy cost analysis

A

A comparison of all of the costs associated with making an item versus the cost of buying the item.M

270
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due date

A

The date when purchased material or production material is due to be available for use. Syn: expected receipt date. See: arrival date.D

271
Q

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program

A

In project management, a coordinated set of related projects usually including ongoing work.P

272
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materiel

A

A term, used more frequently in nonmanufacturing organizations, to refer to the equipment, apparatus, and supplies used by an organization.M

273
Q

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first-article inspection

A

A quality check on the first component run after a new setup has been completed. Syn: first-piece inspection.F

274
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link

A

The transportation method used in a logistics system to connect the nodes of the system.L

275
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manufacturing cycle efficiency

A

The ratio of value-added time to manufacturing lead time or cycle time. Manufacturing cycle time can be improved by the reduction of manufacturing lead time by eliminating nonvalue- added activities such as inspecting, moving, and queuing.M

276
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centralized marketing system

A

An organizational structure in which a central marketing group manages functionally divided areas, such as advertising, sales, and marketing research.C

277
Q

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small group improvement activity

A

An organizational technique for involving employees in continuous improvement activities. See: quality circle.S

278
Q

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differentiation strategy

A

A business strategy that focuses on setting a product or service apart from the competition focusing on making a product or service unique.D

279
Q

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load-distance analysis

A

In layout analysis, a method of choosing a facility layout based on selecting the layout with the shortest product or material travel per time period.L

280
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brand plan

A

Syn: market plan.B

281
Q

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market hedge

A

Scheduling or holding an inventory quantity greater than the expected demand because of expected inaccuracy or volatility in the forecasted demand. See: hedge.M

282
Q

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cross-functional team

A

A set of individuals from various departments assigned a specific task such as implementing new computer software. See: core team.C

283
Q

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customer tolerance time

A

Syn: demand lead time.C

284
Q

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inventory usage

A

The value or the number of units of an inventory item consumed over a period of time.I

285
Q

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bond (performance)

A

A guarantee of satisfactory work completion that is executed in connection with a contract and that secures the performance and fulfillment of all the undertakings, covenants, terms, conditions, and agreements contained in the contract.B

286
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node

A

In project management, a point connected by arrows in a network.N

287
Q

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graphical forecasting methods

A

The use of visual information to predict sales patterns, it typically involves plotting information in a graphical form. It is relatively easy to convert a spreadsheet into a graph that conveys the information visually. Trends and patterns of data are easier to spot, and extrapolation of previous demand can be used to predict future demands.G

288
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seasonality

A

A repetitive pattern of demand from year to year (or other repeating time interval) with some periods considerably higher than others. Syn: seasonal variation. See: base series.S

289
Q

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linear layout

A

A layout of various machines in one straight line. This type of layout makes it difficult to reallocate operations among workers and machinery.L

290
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continuous process control

A

The use of transducers (sensors) to monitor a process and make automatic changes in operations through the design of appropriate feedback control loops. Although such devices have historically been mechanical or electromechanical, there is now widespread use of microcomputers and centralized control.C

291
Q

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FAS

A

1) Abbreviation for final assembly schedule. 2) Abbreviation for free alongside ship.F

292
Q

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bench stocks

A

Syn: floor stocks.B

293
Q

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order dating

A

Syn: order promising.O

294
Q

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loss to society

A

According to Genichi Taguchi, a loss to society occurs whenever a dimension of a product differs from its target value. This loss increases with the square of the deviation from the target. According to this concept, a loss to society occurs even though a dimension

295
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coupon

A

A promotional device offering special savings when a product is purchased.C

296
Q

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blueprint

A

In engineering, a line drawing showing the physical characteristics of a part.B

297
Q

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customer contact centers

A

Centers that combine phone centers and web contact services to enable customers to contact the center 24 hours a day via phone, web, or email.C

298
Q

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marketing channel

A

That set of organizations through which a good or service passes in going from a raw state to the final consumer. See: channels of distribution, distribution channel.M

299
Q

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outpartnering

A

The process of involving the supplier in a close partnership with the firm and its operations management system. Outpartnering is characterized by close working relationships between buyers and suppliers, high levels of trust, mutual respect, and emphasis on joint problem solving and cooperation. With outpartnering, the supplier is viewed not as an alternative source of goods and services (as observed under outsourcing) but rather as a source of knowledge, expertise, and complementary core competencies. Outpartnering is typically found during the early stages of the product life cycle when dealing with products that are viewed as critical to the strategic survival of the firm. See: customer-supplier partnership, supplier partner, and customer partner.O

300
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finish date

A

The time of completion of a project or activity. It may be planned, actual, early, late, baseline, or target.F

301
Q

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primary demand

A

The demand for a category of products rather than for a specific brand.P

302
Q

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plan deliver

A

Establishing plans for action over time that project appropriation of supply resources to meet delivery requirements.P

303
Q

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dojo

A

A Japanese word meaning hall.D

304
Q

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data mining

A

The process of studying data to search for previously unknown relationships. This knowledge is then applied to achieving specific business goals.D

305
Q

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maximum order quantity

A

An order quantity modifier, applied after the lot size has been calculated, that limits the order quantity to a pre-established maximum.M

306
Q

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brainstorming

A

A technique that teams use to generate ideas on a particular subject. Each person on the team is asked to think creatively and write down as many ideas as possible. The ideas are not discussed or reviewed until after the brainstorming session.B

307
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Outsourcing involves substitution

A

the replacement of internal capacity and production by that of the supplier. See: subcontracting.O

308
Q

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departmental stocks

A

An informal system of holding some stock in a production department. This action is taken as a protection from stockouts in the stockroom or for convenience; however, it results in increased inventory investment and possible degradation of the accuracy of the inventory records.D

309
Q

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certificate of origin

A

A document attesting to a shipment’s country of origin.C

310
Q

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penetration pricing

A

Introducing a product below its long-run price to secure entry into a market.P

311
Q

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production rate

A

The rate of production usually expressed in units, cases, or some other broad measure, expressed by a period of time (e.g., per hour, shift, day, or week). Syn: production level.P

312
Q

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terminal-handling costs

A

Carrier charges dependent on the number of times a shipment must be loaded, handled and unloaded. Cost can be reduced by consolidating shipments into fewer parcels or by shipping in truckload quantities.T

313
Q

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fitness for use

A

A term used to indicate that a good or service fits the customer’s defined purpose for that good or service.F

314
Q

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decryption

A

Transformation of encrypted text into a readable format.D

315
Q

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returns inventory costs

A

All of the costs associated with handling returned inventory.R R

316
Q

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inventory turns

A

Syn: inventory turnover.I

317
Q

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risk mitigation

A

Reducing the exposure to risk, either by its likelihood or its impact.R

318
Q

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logistics management

A

The part of supply chain management that oversees the planning and execution of forward and reverse flow of goods and related information between points in the supply chain to meet customer requirements.L

319
Q

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performance and event management systems

A

Systems that record and measure the performance of key supply chain processes. With these data, employees can deperformance P termine when the key processes have changed and why they have changed. These data then are utilized to adjust the existent data.P

320
Q

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market plan

A

The output of the market planning process. The market plan includes the current market position, opportunity and issue analysis, marketing objectives and strategies, action plans, programs, projects, budgets, and pro forma profit and loss statement and management controls. Syn: brand plan, product plan.M

321
Q

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data dictionary

A

1) A catalog of requirements and specifications for an information system. 2) A file that stores facts about the files and databases for all systems that are currently being used or for the software involved.D

322
Q

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human-machine interface

A

The location where data is transferred from a worker to a computer, or vice-versa.H

323
Q

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leading indicator

A

A specific business activity index that indicates future trends. For example, housing starts is a leading indicator for the industry that supplies builders’ hardware.L

324
Q

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global sourcing

A

Using international sources for supplies.G

325
Q

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EEOC

A

Abbreviation for Equal Employment Opportunity Commission.E

326
Q

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external customer

A

A person or organization that receives a good, a service, or information but is not part of the organization supplying it. See: customer, internal customer.E

327
Q

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calibration frequency

A

The interval in days between tooling calibrations.C

328
Q

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progress payments

A

Payments arranged in connection with purchase transactions requiring periodic payments in advance of delivery for certain amounts or for certain percentages of the purchase price.P

329
Q

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work ticket

A

Syn: work order.W

330
Q

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data file

A

A collection of related data records organized in a specific manner (e.g., one record for each inventory item showing product code, unit of measure, production costs, transactions, selling price, and production lead time).D

331
Q

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ways

A

Paths over which a carrier operates, including right-of-way, roadbed, tracks, and other physical facilities. May be owned by the government or privately held by the carrier or provided by nature.W

332
Q

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path

A

In project management, a set of serially related activities in a network diagram.P

333
Q

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dynamic lot sizing

A

Any lot-sizing technique that creates an order quantity subject to continuous recomputation. See: least total cost, least unit cost, part period balancing, period order quantity, Wagner-Whitin algorithm.D

334
Q

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fringe benefits

A

Employer-granted compensations that are not directly tied to salary.F

335
Q

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into three areas

A

throughput, inventory, and operating expense. It does not create incentives (through allocation of overhead) to build up inventory. The system is considered to provide a truer reflection of actual revenues and costs than traditional cost accounting. It is closer to a cash flow concept of income than is traditional accounting. The theory of constraints (TOC) accounting provides a simplified and more accurate form of direct costing that subtracts true variable costs (those costs that vary with throughput quantity). Unlike traditional cost accounting systems in which the focus is generally placed on reducing costs in all the various accounts, the primary focus of TOC accounting is on aggressively exploiting the constraint(s) to make more money for the firm. Syn: constraint accounting, throughput accounting.T

336
Q

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replenishment period

A

The time between successive replenishment orders. Syn: replenishment interval. See: review period.R

337
Q

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allocated item

A

In an MRP system, an item for which a picking order has been released to the stockroom but not yet sent from the stockroom.A

338
Q

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competitive benchmarking

A

Benchmarking a product or service against competitors. Syn: performance benchmarking. See: benchmarking.C

339
Q

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subassembly

A

An assembly that is used at the next level of the bill of material to build another assembly.S

340
Q

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micro-land-bridge traffic

A

A multimodal transportation solution that moves goods over water and then land, with the final destination inland. See: mini-land-bridge traffic.M

341
Q

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trigger level

A

Syn: order point.T

342
Q

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process control

A

1) The function of maintaining a process within a given range of capability by feedback, correction, and so forth. 2) The monitoring of instrumentation attached to equipment (valves, meters, mixers, liquid, temperature, time, etc.) from a control room to ensure that a high-quality product is being produced to specification.P

343
Q

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performance measure

A

In a performance measurement system, the actual value measured for the criterion. Syn: performance measurement. See: performance criterion, performance measurement system, performance standard.P

344
Q

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sequential

A

In numeric sequence, normally in ascending order.S

345
Q

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stores ledger card

A

A card on which records of the items on hand and on order are maintained.S

346
Q

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CPOF

A

Abbreviation for capacity planning using overall factors.C

347
Q

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quality at the source

A

A producer’s responsibility to provide 100 percent acceptable quality material to the consumer of the material. The objective is to reduce or eliminate shipping or receiving quality inspections and line stoppages as a result of supplier defects.Q

348
Q

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manufacturing resource planning (MRP II)

A

A method for the effective planning of all resources of a manufacturing company. Ideally, it addresses operational planning in units, financial planning in dollars, and has a simulation capability to answer what-if questions. It is made up of a variety of processes, each linked together: business planning, production planning (sales and operations planning), master production scheduling, material requirements planning, capacity requirements planning, and the execution support systems for capacity and material. Output from these systems is integrated with financial reports such as the business plan, purchase commitment report, shipping budget, and inventory projections in dollars. Manufacturing resource planning is a direct outgrowth and extension of closed-loop MRP.M

349
Q

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frequency of repair

A

Syn: repair factor.F

350
Q

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service parts revenue

A

The value of sales of replacement parts to external and internal customers, net of discounts and coupons.S

351
Q

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ratification

A

The situation wherein a principal, failing to repudiate an agent’s unauthorized conduct, is bound by the conduct.R

352
Q

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group technology (GT)

A

An engineering and manufacturing philosophy that identifies the physical similarity of parts (common routing) and establishes their effective production. It provides for rapid retrieval of existing designs and facilitates a cellular layout.G

353
Q

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maintenance, repair, and overhaul (MRO)

A

An item for reprocessing in the remanufacturing industry.M

354
Q

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normal distribution

A

A particular statistical distribution where most of the observations fall fairly close to one mean, and a deviation from the mean is as likely to be plus as it is to be minus. When graphed, the normal distribution takes the form of a bell-shaped curve.N

355
Q

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e-commerce

A

Abbreviation for electronic commerce.E

356
Q

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design

A

The conversion of a need or innovation into a product, process, or service that meets both the enterprise and customer expectations. The design process consists of translating a set of functional requirements into an operational product, process, or service.D

357
Q

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AON

A

Abbreviation for activity-on-node network.A

358
Q

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convertible security

A

An asset (stock or bond) that may be changed for another asset at the owner’s request.C

359
Q

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transient state

A

In waiting line models, early behavior of a characteristic of the model, such as line length, is more erratic than eventual performance of the line. Data are usually not collected from the model until less erratic behavior emerges. See: steady state.T

360
Q

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project costing

A

An accounting method of assigning valuations that is generally used in industries where services are performed on a project basis. Each assignment is unique and costed without regard to other assignments. Examples are shipbuilding, construction projects, and public accounting firms. Project costing is opposed to process costing, where products to be valued are homogeneous.P

361
Q

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single-source supplier

A

A company that is selected to have 100 percent of the business for a part although S alternate suppliers are available. See: sole-source supplier.S

362
Q

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awareness efficiency

A

In e-commerce, a measurement of how well an organization informs people who have access to the web that the organization’s website exists.A B

363
Q

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knowledge management

A

Concept of information being used by executives, managers, and employees to more effectively produce product, interface with customers, and navigate through competitive markets.K

364
Q

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continuous production

A

A production system in which the productive equipment is organized and sequenced according to the steps involved to produce the product. This term denotes that material flow is continuous during the production process. The routing of the jobs is fixed and setups are seldom changed. Syn: continuous flow (production), continuous process, continuous manufacturing. See: mass production, project manufacturing.C

365
Q

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replacement parts

A

Parts that can be used as substitutes that differ from completely interchangeable service parts in that they require some physical modification (e.g., boring, cutting, drilling) before they can replace the original part.R

366
Q

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time-definite services

A

Delivery of goods and services where an agreement has been reached on the day and time of the delivery.T

367
Q

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MAPE

A

Abbreviation for mean absolute percent error.M

368
Q

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champion

A

(1) In quality control, sponsor of a six sigma implementation project. (2) In general, sponsor of an improvement effort.C

369
Q

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content management applications

A

Supports the evolutionary life cycle of digital-based information and makes information dynamically updatable online; includes the ability to publish content to a repository and support access to digital-based content.C

370
Q

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blocking bug

A

A defect that prevents a thorough investigation as to the cause, or that prevents shipment of a product.B

371
Q

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consuming the forecast

A

The process of reducing the forecast by customer orders or other types of actual demands as they are received. The adjustments yield the value of the remaining forecast for each period. Syn: forecast consumption.C

372
Q

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earned value

A

In project management, the total value, including overhead, of approved estimates for completed activities or portions thereof.E

373
Q

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dog

A

A slang term used to refer to a low-growth, lowmarket- share product. See: growth-share matrix.D

374
Q

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single-digit setup (SDS)

A

The idea of performing setups in less than 10 minutes. See: single-minute exchange of die.S

375
Q

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activity network diagram

A

One of the seven new tools of quality. A drawing including nodes that represent operations to be performed and arrows representing precedence relationships. This drawing represents all of the activities to be finished to complete a project. Also known as a critical path diagram or PERT chart.A

376
Q

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lumpy demand

A

Syn: discontinuous demand.L M

377
Q

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periodic replenishment

A

A method of aggregating requirements to place deliveries of varying quantities at evenly spaced time intervals, rather than variably spaced deliveries of equal quantities.P

378
Q

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resource planning

A

Capacity planning conducted at the business plan level. The process of establishing, measuring, and adjusting limits or levels of long-range capacity. Resource planning is normally based on the production plan but may be driven by higher level plans beyond the time horizon for the production plan (e.g., the business plan). It addresses those resources that take long periods of time to acquire. Resource planning decisions always require top management approval. Syn: resource requirements planning. See: capacity planning, long-term planning.R

379
Q

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stock split

A

The issuance of new shares to stockholders without requiring additional equity.S

380
Q

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safety factor

A

1) The ratio of average strength to the worst stress expected. It is essential that the variation, in addition to the average value, be considered in design. 2) The numerical value used in the service function (based on the standard deviation or mean absolute deviation of the forecast) to provide a given level of customer service. For example, if the item MAD is 100 and a .95 customer service level (safety factor of 2.06) is desired, then a safety stock of 206 units should be carried. This safety stock must be adjusted if the forecast interval and item lead times differ. Syn: service factor. See: service function.S

381
Q

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specification limits

A

Syn: tolerance limits.S

382
Q

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stickering

A

Placing manufacturer-or customer-requested stickers on the boxes of the product being sent to them. These are typically done so that the customer, typically a retailer, can more effectively track its inventory. Bar coding is commonly a part of the stickering process.S

383
Q

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operation setback chart

A

A graphical display of the bill of materials and lead-time information provided by the routing for each part. The horizontal axis provides the lead time from raw materials purchase to component manufacture to assembly of the finished product.O

384
Q

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container design

A

The characteristics of the product that make it transportable with ease of handling and stowability. Container concepts include packaging, monetary density, and physical density.C

385
Q

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operations finite loading

A

A finite loading technique that aims to minimize possible delays to individual operations and, thus, the potential delay of each scheduled order. Eligible operations from an order or a group of orders are loaded period by period onto a work center or a group of work centers, according to operation-level priority rules. Syn: operations sequencing. See: constraint-oriented finite loading, drum-buffer-rope, order-oriented finite loading.O

386
Q

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current finish time

A

In project management, the present estimate of an activity’s finish time.C

387
Q

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cost allocation

A

The assignment of costs that cannot be directly related to production activities via more measurable means (e.g., assigning corporate expenses to different products via direct labor costs or hours).C

388
Q

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manufacturing layout strategies

A

An element of manufacturing strategy. It is the analysis of physical capacity, geography, functional needs, corporate philosophy, and product-market/process focus to systematically respond to required facility changes driven by organizational, strategic, and environmental considerations.M

389
Q

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planned value

A

In project management, the total value (including overhead) of approved estimates for planned activities.P

390
Q

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cooperative training

A

An educational process in which students alternate formal studies with actual on-the-job experience. Successful completion of the off-campus experience may be a prerequisite for graduation from the program of study.C

391
Q

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dock receipt

A

A receipt recorded for a shipment received or delivered at a pier or dock.D

392
Q

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bottleneck

A

A facility, function, department, or resource whose capacity is less than the demand placed upon it. For example, a bottleneck machine or work center exists where jobs are processed at a slower rate than they are demanded. Syn: bottleneck operation.B

393
Q

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materials management

A

The grouping of management functions supporting the complete cycle of material flow, from the purchase and internal control of production materials to the planning and control of work in process to the warehousing, shipping, and distribution of the finished product.M

394
Q

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virtual corporation

A

The logical extension of outpartnering. With the virtual corporation, the capabilities and systems of the firm are merged with those of the suppliers, resulting in a new type of corporation where the boundaries between the suppliers’ systems and those of the firm seem to disappear. The virtual corporation is dynamic in that the relationships and structures formed change according to the changing needs of the customer.V

395
Q

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GAMP

A

Acronym for generally accepted manufacturing practices.G

396
Q

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hybrid organizational structure

A

An organizational structure that embodies multiple organizational forms (functional, product, or geographical) simultaneously. For example, some functions may be centralized (such as finance and accounting), whereas others may be duplicated geographically (such as sales).H

397
Q

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net operating income

A

The income before interest and taxes are subtracted. Syn: earnings before interest and taxes.N

398
Q

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product load profile

A

A listing of the required capacity and key resources needed to manufacture one unit of a selected item or family. The resource requirements are further defined by a lead-time offset to predict the impact of the product on the load of the key resources by specific time period. The product load profile can be used for rough-cut capacity planning to calculate the approximate capacity requirements of the master production schedule. See: bill of resources, resource profile, rough-cut capacity planning.P

399
Q

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industry

A

A set of companies providing a product or service where each company’s offering is a close substitute for its competitors’ offerings.I

400
Q

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resource leveling

A

The process of scheduling (and rescheduling) the start and finish dates of operations (or activities) to achieve a consistent rate of resource usage so that resource requirements do not exceed resource availability for a given time period. Syn: leveling.R

401
Q

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in-process inventory

A

Syn: work in process.I

402
Q

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material planner

A

1) The person normally responsible for managing the inventory levels, schedules, and availability of selected items, either manufactured or purchased. Syn: inventory planner. 2) In an MRP system, the person responsible for reviewing and acting on order release, action, and exception messages from the system. Syn: parts planner, planner.M

403
Q

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full cost pricing

A

Establishing price at some markup over the full cost (absorption costing). Full costing includes direct manufacturing as well as applied overhead.F

404
Q

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activity-based planning (ABP)

A

In activity-based cost accounting, a continuing definition of activity and resource requirements (for both financial and operational systems) based on future demand for products or services by specific customer needs. Demand for resources is related to resource availability; capacity overages and shortfalls are corrected. Activity-based budgeting derives from the outputs of ABP.A

405
Q

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process capability index

A

The value of the tolerance specified for the characteristic divided by the process capability. There are several types of process capability indices, including the widely used Cpk and Cp.P P

406
Q

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retirement of debt

A

The termination of a debt obligation by appropriate settlement with the lender. Understood to be in full amount unless partial settlement is specified.R

407
Q

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total procurement lead time

A

Syn: procurement lead time.T

408
Q

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seiso

A

A term that states that a productive workplace is found through cleanliness. See: five Ss.S

409
Q

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demand

A

A need for a particular product or component. The demand could come from any number of sources (e.g., a customer order or forecast, an interplant requirement, a branch warehouse request for a service part or the manufacturing of another product). At the finished goods level, demand data are usually different from sales data because demand does not necessarily result in sales (i.e., if there is no stock, there will be no sale). There are generally up to four components of demand: cyclical component, random component, seasonal component, and trend component. See: booked orders.D

410
Q

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free alongside ship (FAS)

A

A term of sale indicating the seller is liable for all changes and risks until the goods sold are delivered to the port on a dock that will be used F by the vessel. Title passes to the buyer when the seller has secured a clean dock or ship’s receipt of goods.F

411
Q

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manufacturing representative

A

Syn: manufacturer’s representative. M

412
Q

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claim

A

A charge made against a company because of loss or damage.C

413
Q

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inbound stockpoint

A

A defined location next to the place of use on a production floor. Materials are brought to the stockpoint as needed and taken from it for immediate use. Inbound stockpoints are used with a pull system of material control.I

414
Q

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calculated usage

A

The determination of usage of components or ingredients in a manufacturing process by multiplying the receipt quantity of a parent by the quantity per of each component or ingredient in the bill or recipe, accommodating standard yields.C

415
Q

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five whys

A

The common practice in total quality management is to ask “why” five times when confronted with a problem. By the time the answer to the fifth “why” is found, the ultimate cause of the problem is identified. Syn: five Ws. See: root cause analysis.F

416
Q

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overhead

A

The costs incurred in the operation of a business that cannot be directly related to the individual goods or services produced. These costs, such as light, heat, supervision, and maintenance, are grouped in several pools (e.g., department overhead, factory overhead, general overhead) and distributed to units of goods or services by some standard allocation method such as direct labor hours, direct labor dollars, or direct materials dollars. Syn: burden. See: expense.O

417
Q

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original equipment manufacturer (OEM)

A

A manufacturer that buys and incorporates another supplier’s products into its own products. Also, products supplied to the original equipment manufacturer or sold as part of an assembly. For example, an engine may be sold to an OEM for use as that company’s power source for its generator units.O

418
Q

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operation splitting

A

Syn: lot splitting.O

419
Q

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strict performance

A

The performance of a contract good enough for the contractor to be paid full price less the other party’s losses.S

420
Q

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discount period

A

The time allowed a customer to receive a cash discount for timely payment of an invoice.D

421
Q

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break-bulk warehousing

A

A form of cross-docking in which the incoming shipments are from a single source or manufacturer.B

422
Q

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waiting line theory

A

Syn: queuing theory.W

423
Q

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level production method

A

A production planning method that maintains a stable production rate while varying inventory levels to meet demand. Syn: level strategy, production leveling. See: level schedule.L

424
Q

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plant finished goods

A

Finished goods inventory held in plant rather than being shipped to a customer.P

425
Q

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bill of labor

A

A structured listing of all labor requirements for the fabrication, assembly, and testing of a parent item. See: bill of resources, capacity bill procedure, routing.B

426
Q

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adjustable capacity

A

Capacity, such as labor or tools, that can be changed in the short term.A

427
Q

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total cost analysis

A

In purchasing, a process by which a firm seeks to identify and quantify all of the major costs associated with various sourcing options.T

428
Q

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data acquisition

A

Obtaining data from a source, such as a database, and communicating that data to another database or a data warehouse.D

429
Q

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labor efficiency

A

1) Syn: worker efficiency. 2) The average of worker efficiency for all direct workers in a department or facility.L

430
Q

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run chart

A

A graphical technique that illustrates how a process is performing over time. By statistically analyzing a run chart, a process can be determined to be under or out of control. The most common types of data used to construct the charts are ranges, averages, percentages/counts, and individual process attributes (e.g., temperature). Syn. run diagram. See: C chart, P chart, R chart, U chart, X-bar chart.R

431
Q

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performance criterion

A

The characteristic to be measured (e.g., parts per million defective, business profit). See: performance measure, performance measurement system, performance standard.P

432
Q

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conveyor

A

A device following a fixed route that has the capability of moving material between points in a facility. This device commonly is used when there is a high volume of flow along the route.C

433
Q

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automatic identification system (AIS)

A

A system that can use various means, including bar code scanning and radio frequencies, to sense and load data in a computer.A

434
Q

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flow processing

A

In process systems development, work flows from one workstation to another at a nearly constant rate and with no delays. When producing discrete (geometric) units, the process is called repetitive manufacturing; when producing non-geometric units over time, the process is called continuous manufacturing. A physical-chemical reaction takes place in the continuous flow process.F

435
Q

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parallel implementation strategy

A

A system implementation technique whereby the current system and the new system are both executed for some period of time. The results of the two systems are compared to ensure that the new system is executing properly. When a level of confidence is built that the new system is executing properly, the old system is turned off and the new system becomes the designated business system.P

436
Q

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log normal distribution

A

A continuous probability distribution where the logarithms of the variable are normally distributed.L

437
Q

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positioning strategy

A

Within manufacturing, a plan for inventory, product design, and production process.P

438
Q

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independent action

A

In transportation, the publication of a freight rate that differs from that of the rate bureau to which the publisher is a member. This is a permitted action.I

439
Q

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protection time

A

Syn: safety lead time.P P

440
Q

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base series

A

A standard succession of values of demand-over-time data used in forecasting seasonal items. This series of factors is usually based on the relative level of demand during the corresponding period of previous years. The average value of the base series over a seasonal cycle will be 1.0. A figure higher than 1.0 indicates that the demand for that period is more than the average; a figure less than 1.0 indicates less than the average. For forecasting purposes, the base series is superimposed upon the average demand and trend in demand for the item in question. Syn: base index. See: seasonal index, seasonality.B

441
Q

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bill-of-material structuring

A

The process of organizing bills of material to perform specific functions.B

442
Q

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parts bank

A

1) In the narrow sense, an accumulation of inventory between operations that serves to keep a subsequent operation running although there are interruptions in the preceding operations. See: buffer. 2) In the larger sense, a stockroom or warehouse. The implication is that the contents of these areas should be controlled like the contents of a bank.P

443
Q

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housekeeping

A

The manufacturing activity of identifying and maintaining an orderly environment for preventing errors and contamination in the manufacturing process.H

444
Q

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work rules

A

1) Compensation rules concerning such issues as overtime, vacation, and shift premiums. 2) Employee and employer job rights and obligation rules, such as performance standards, promotion procedures, job descriptions, and layoff rules. Work rules are usually a part of a union contract and may include a code of conduct for workers and language to ensure decent conditions and health standards.W

445
Q

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tare weight

A

The weight of a substance, obtained by deducting the weight of the empty container from the gross weight of the full container.T

446
Q

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lower specification limit (LSL)

A

In statistical process control, charting the line that defines the minimum acceptable level of random output. See: tolerance limits.L

447
Q

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cyberspace

A

A common name encompassing both the internet and other forms of electronic communication.C

448
Q

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interactive customer care

A

A generic term for a variety of services provided over the internet. These services include customer service and technical support.I

449
Q

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ROE

A

Abbreviation for return on owner’s equity.R

450
Q

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manufacturing order reporting

A

Syn: production reporting and status control.M

451
Q

Card 2

process flow scheduling

A

A generalized method for planning equipment usage and material requirements that uses the process structure to guide scheduling calculations. It is used in flow environments common in process industries.P

452
Q

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cost reduction

A

The act of lowering the cost of goods or services by securing a lower price, reducing labor costs, and so forth. In cost reduction, the item usually is not changed, but the circumstances around which the item

453
Q

Card 2

five focusing steps

A

In the theory of constraints, a process to continuously improve organizational profit by evaluating the production system and market mix to determine how to make the most profit using the system constraint. The steps consist of (1) identifying the constraint to the system, (2) deciding how to exploit the constraint to the system, (3) subordinating all nonconstraints to the constraint, (4) elevating the constraint to the system, (5) returning to step 1 if the constraint is broken in any previous step, while not allowing inertia to set in.F

454
Q

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batch sensitivity factor

A

A multiplier that is used for the rounding rules in determining the number of batches required to produce a given amount of product.B

455
Q

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dividend yield

A

The ratio of dividends per share over stock price.D

456
Q

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manufacturing data sheet

A

Syn: routing.M

457
Q

Card 2

action message

A

An output of a system that identifies the need for, and the type of action to be taken to correct, a current or potential problem. Examples of action messages in an MRP system include release order, reschedule in, reschedule out, and cancel. Syn: exception message, action report.A

458
Q

Card 2

work in process (WIP)

A

A good or goods in various stages of completion throughout the plant, including all material from raw material that has been released for initial processing up to completely processed material awaiting final inspection and acceptance as finished goods inventory. Many accounting systems also include the value of semifinished stock and components in this category. Syn: in-process inventory.W

459
Q

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finite forward scheduling

A

An equipment scheduling technique that builds a schedule by proceeding sequentially from the initial period to the final period while observing capacity limits. A Gantt chart may be used with this technique. See: finite loading.F

460
Q

Card 2

CSCP

A

Abbreviation for Certified Supply Chain Professional.C

461
Q

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lead time

A

1) A span of time required to perform a process (or series of operations). 2) In a logistics context, the time between recognition of the need for an order and the receipt of goods. Individual components of lead time can include order preparation time, queue time, processing time, move or transportation time, and receiving and inspection time. Syn: total lead time. See: manufacturing lead time, purchasing lead time.L

462
Q

Card 2

QFD

A

Abbreviation for quality function deployment.Q

463
Q

Card 2

unitization

A

In warehousing, the consolidation of several units into larger units for fewer handlings.U

464
Q

Card 2

nemawashi

A

A Japanese word meaning getting a group to agree on a strategy before beginning to implement it.N

465
Q

Card 2

ton-mile

A

A way to measure the transportation of freight. It is the multiplication of weight being transported (in tons) by the distance it is being transported (in miles). Heavily used in rail and ship transportation mode.T

466
Q

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punitive damages

A

The money awarded a plaintiff, not as payment for the plaintiff ’s losses, but as punishment for the defendant’s conduct.P

467
Q

Card 2

agility

A

The ability to successfully manufacture and market a broad range of low-cost, high-quality products and services with short lead times and varying volumes that provide enhanced value to customers through cusAGVS ● analog A tomization. Agility merges the four distinctive competencies of cost, quality, dependability, and flexibility.A

468
Q

Card 2

APR

A

Abbreviation for annual percentage rate.A

469
Q

Card 2

ASC

A

Abbreviation for accredited standards committee.A

470
Q

Card 2

AD&D

A

Abbreviation for accidental death and disability.A

471
Q

Card 2

labor voucher

A

Syn: labor claim.L

472
Q

Card 2

open office

A

An office, with moveable partitions and furniture, that deemphasizes the compartmentalization of people.O

473
Q

Card 2

group layout

A

A layout in which machine groups are arranged to process families of parts with similar characteristics. G

474
Q

Card 2

electronic funds transfer (EFT)

A

A computerized system that processes financial transactions and information about these transactions or performs the exchange of value between two parties.E electronic invoice presentment and payment (EIPP) Accepting and sending invoices and payments over the internet.E

475
Q

Card 2

variable costing

A

An inventory valuation method in which only variable production costs are applied to the product; fixed factory overhead is not assigned to the product. Traditionally, variable production costs are direct labor, direct material, and variable overhead costs. Variable costing can be helpful for internal management analysis but is not widely accepted for external financial reporting. For inventory order quantity purposes, however, the unit costs must include both the variable and allocated fixed costs to be compatible with the other terms in the order quantity formula. For make-orbuy decisions, variable costing should be used rather than full absorption costing. Syn: direct costing.V

476
Q

Card 2

hard automation

A

Use of specialized machines to manufacture and assemble products. Each machine is normally dedicated to one function, such as milling.H H

477
Q

Card 2

transformation system

A

Syn: transformation process.T

478
Q

Card 2

total quality management (TQM)

A

A term coined to describe Japanese-style management approaches to quality improvement. Since then, total quality management (TQM) has taken on many meanings. Simply put, TQM is a management approach to long-term success through customer satisfaction. TQM is based on the participation of all members of an organization in improving processes, goods, services, and the culture in which they work. The methods for implementing this approach are found in teachings of such quality leaders as Philip B. Crosby, W. Edwards Deming, Armand V. Feigenbaum, Kaoru Ishikawa, J.M. Juran, and Genichi Taguchi.T

479
Q

Card 2

optical character recognition (OCR)

A

A mechanized method of collecting data involving the reading of handprinted material or special character fonts. If handwritten, the information must adhere to predefined rules of size, format, and locations on the form.O

480
Q

Card 2

static budget

A

Syn: master budget.S

481
Q

Card 2

third-party registration system

A

Using an outside party (rather than the buyer) to determine the adequacy of a seller’s product quality. If several buyers use the same third party system, such as ISO9000, the seller avoids having multiple audits.T

482
Q

Card 2

common law

A

Law flowing from judicial decisions over the years rather than from legislative action.C

483
Q

Card 2

formal culture

A

The visible segment of the organizational culture, such as policies and procedures, mission statement, and dress codes. See: informal culture.F

484
Q

Card 2

bar coding

A

A method of encoding data using bar code for fast and accurate readability.B

485
Q

Card 2

input/output analysis

A

Syn: input/output control.I

486
Q

Card 2

Dodge-Romig tables

A

Information about the correct sample size and maximum defective quantity in a sample to satisfy lot acceptance; a quality control measurement.D

487
Q

Card 2

nondurable goods

A

Goods whose serviceability is generally limited to a period of less than three years (such as perishable goods and semidurable goods).N

488
Q

Card 2

disbursement

A

The physical issuance and reporting of the movement of raw material, components, or other items from a stores room or warehouse. Taking a part out of inventory. See: issue.D

489
Q

Card 2

project-based layout

A

A type of layout where the good or product is stationary and the workers come to the site to work on it.P

490
Q

Card 2

hub

A

A large manufacturer or retailer doing business with many trading partners.H

491
Q

Card 2

alternate operation

A

Replacement for a normal step in the manufacturing process. Ant: primary operation.A

492
Q

Card 2

diagnostic journey and remedial journey

A

A two-phase investigation used by teams to solve chronic quality

493
Q

Card 2

RMA

A

Abbreviation for return material authorization.R

494
Q

Card 2

gross sales

A

The total amount charged to all customers during the accounting time period.G

495
Q

Card 2

merge in transit

A

Combining shipments from several vendors at an intermediate point of shipment and delivering the combined load to the customer.M

496
Q

Card 2

back scheduling

A

A technique for calculating operation start dates and due dates. The schedule is computed starting with the due date for the order and working backward to determine the required start date and/or due dates for each operation. Syn: backward scheduling. Ant: forward scheduling.B

497
Q

Card 2

cycle counter

A

An individual who is assigned to do cycle counting.C

498
Q

Card 2

discount

A

An allowance or deduction granted by the seller to the buyer, usually when the buyer meets certain stipulated conditions that reduce the price of the products purchased. A quantity discount is an allowance determined by the quantity or value of the purchase. A cash discount is an allowance extended to encourage payment of an invoice on or before a stated date. A trade discount is a deduction from an established price for goods or services made by the seller to those engaged in certain businesses. See: price break.D

499
Q

Card 2

fixture

A

A device to hold and locate a work piece during inspection or production operations. See: jig.F F