Chapter 13 Flashcards
Managing the acquisition movement and storage of supplies materials and finished products in a business
Logistics
Changes the form of raw materials so they can be consumed or used to manufacture other products
Materials processing
Studies existing products to develop design improvements or new product uses
Applied research
Products are obtained from nature a grown using natural resources
Extraction and cultivation
Combines raw materials and processed goods into finished products
Manufacturing
Increases the quality of work by reducing errors, inefficiencies, and waste
Continuous process improvement
In assembly process that produces a large number of identical products using a continuous, efficient procedure.
Mass production
A specific measurement against which inactivity or result is judged.
Standard
Identifies how work will be done,Who will do it, and what resources will be needed.
Operational plan
Goods arrive when needed for production, use, or sale rather than sitting in storage.
Just – in – time
Changing and improving the form of another product.
Processing
Building a specific and unique product to meet the needs of one customer.
Custom manufacturing
The activities, equipment, and resources needed to manufacture product.
Production process
Time plans for completing activities.
Schedule
Done without a specific product in mind with the goal of discovering new solutions to problems.
Pure research
The best practices among all competitors
Benchmarks
Maintains the supply of all the resources needed for production in the products produced.
Inventory management
Uses technology to access and exchange information to complete the work of an organization.
Information management
A detailed financial plan for specific area of the business.
Operating budget
A list of steps to be followed for performing a particular work activity.
A procedure
