CONVERSION CYCLE Flashcards
It is consists of both physical and information activities related to manufacturing products
for sale.
Conversion cycle
It involves pulling products based on the customer’s demand rather than pushing them from the production end or supply.
Pull processing
The success of the pull processing model requires zero defects in raw materials, work-in process, and finished goods inventory.
Perfect quality
It means eliminating non-value-added activities and other undertakings that do not maximize the use of scarce resources.
Waste Minimization
It means congestion in a production system due to too much workload.
Bottleneck
Lean companies strive to reduce setup time to a minimum, allowing them to produce a greater diversity of products quickly, without sacrificing efficiency at lower production volumes.
Production flexibility
Each employees must be vigilant of problems that threaten the continuous flow of operation of the production line.
Team attitude
It is a Japanese tool used to organize a workplace systematically, cleanly, and safely.
5S
It involves putting only the necessary items in the workplace.
Seiri (sort)
It is the process of efficiently arranging things in the workplace.
Saiton (straighten)
It involves keeping the workplace clean at all times to detect all possible nonconformities easily.
Seiso (shine)
It involves creating common standards to accomplish the three (3) prior
phases effectively.
Seiketsu (standardize)
It involves ensuring all the standards are properly complied with.
Shitsuke (sustain)
It involves grouping similar products together to process them in the same
sequence and on the same equipment.
Cellular manufacturing
A workstation and equipment specifically designed to achieve a smooth operation flow.
Cell
It involves an attitude of constantly improving the set of standards to save time, money, and/or resources.
Continuous improvement
It involves identifying opportunities and designing initiatives to improve the system.
Plan
It is the execution of designs or improvements identified during the planning phase.
Do
It gathers data to check if the plan’s implementation was successful.
Check
It is the company’s response toward the results of the checking phase.
Act
It is a Japanese term which means “automation with human intervention”. This term highlights that whenever an abnormality occurs in the production system, production will stop until it is fixed.
Jidoka
It is essentially made up of three (3) components that boost the work of
the production line.
Total productive maintenance
These are regularly planned and executed maintenance activities to ensure that sudden breakdowns do not occur and the through put for each equipment is increased.
Preventive maintenance
This kind of maintenance revolves around deciding whether there is a need for fixing or purchasing new equipment altogether.
Corrective maintenance
This component ensures that the machines purchased are right.
Maintenance prevention
It is a continuous quality program aimed at bringing about teamwork among departments, coming together and ensuring self-reliant workflow, and producing optimum quality
products.
Total quality management
It consists of various types of machines, each controlled by a single operator.
Traditional Manufacturing
It describes an environment where modern automation exists in the form of islands that stand alone within the traditional setting.
Islands of technology
It is a manufacturing technique that eliminates non-value added activities using a fully automated environment.
Computer-integrated manufacturing
These computer-controlled conveyor systems carry raw materials from stores to the shop floor and finished products to the warehouse.
Automated storage and retrieval systems (AS/RS)
These include using robots that are programmed to perform specific recurring actions with high precision.
Robotics
This method allocates costs
to products and services to facilitate better planning and control.
Activity-based costing
It describe the work performed in a firm.
Activities
These are the reasons for performing activities.
Cost objects
The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model
Value stream accounting
It includes techniques, processes, and/or initiatives done to create value for a customer that can be associated with a product or product line.
Value stream
It includes related goods manufactured by the same company under the same brand.
Product family
It is an automated production planning and control system for
inventory management.
Material requirements planning (MRP)
It is an extension of MRP that has evolved beyond the confines
of inventory management.
Manufacturing resource planning (MRP II)
It integrates departments and functions across a company into one system of integrated applications connected to a single common database.
Enterprise resource planning (ERP) system
It originates from the Toyota Production System. It uses the concept of just-in-time (JIT) model, which focuses on efficiency in production.
Lean manufacturing
