DEFINITIONS

Question 1

Acceptance Sampling

Answer 1

Estimating the quality of conformance of large

Question 2

assignable variation

Answer 2

deviations with a specific cause or source

Question 3

bricolage

Answer 3

a creation from what happened to be available during its formation

Question 4

buisness continuity plan

Answer 4

Guidelines and arrangements for response to disruption of critical

Question 5

consumer’s risk

Answer 5

The likelihood of a type II error.

Question 6

control chart

Answer 6

Graph illustrating observed values

Question 7

cycle stock

Answer 7

Inventory held to gain economies of scale.

Question 8

expected value

Answer 8

The mathematical expectation of a random variable

Question 9

finite loading

Answer 9

A scheduling approach that recognizes capacity constraints.

Question 10

fixed order interval policy

Answer 10

An inventory system in which the amount of replenishment is determined

Question 11

fixed order quantity policy

Answer 11

An inventory system in which the amount of replenishment is predetermined

Question 12

flowtime

Answer 12

The length of time a job spends in the system.

Question 13

framing

Answer 13

Adopting too narrow a view in the analysis of a problem.

Question 14

freezing

Answer 14

In planning, a policy that does not allow changes

Question 15

infinite loading

Answer 15

A scheduling approach that ignores capacity constraints.

Question 16

inventory turnover

Answer 16

The number of annual inventory cycles,

Question 17

makespan

Answer 17

The length of time required to complete a finished schedule.

Question 18

minimum constant production (MCP) rate

Answer 18

The lowest speed of perfectly leve

Question 19

muda

Answer 19

Japanese term for waste

Question 20

natural planning horizon

Answer 20

A point of time within a forecast where aggregate

Question 21

natural variation

Answer 21

The randomness inherent in a process

Question 22

nervous

Answer 22

In management science, a condition in which a small change

Question 23

order cycle

Answer 23

The time required for average demand to consume an order

Question 24

proaction

Answer 24

Avoidance of preventable risk

Question 25

process capability

Answer 25

The natural variation in an existing process

Question 26

producer’s risk

Answer 26

The likelihood of a type I error.

Question 27

propagate

Answer 27

To increase or spread elsewhere.

Question 28

quality circle

Answer 28

A group of employees that meets regularly

Question 29

reorder point

Answer 29

An inventory level that triggers replenishment of an item.

Question 30

robustness

Answer 30

Providing stable reliability despite changing conditions.

Question 31

safety stock

Answer 31

Inventory held to protect against uncertain supply or demand.

Question 32

sampling plan

Answer 32

Defined procedure for conducting acceptance s

Question 33

sawtooth diagram

Answer 33

A graph of inventory levels over time.

Question 34

sense-making

Answer 34

Assigning meaning to experience.

Question 35

service level

Answer 35

The probability that demand for an item will be met during

Question 36

shrinkage

Answer 36

Physical loss of inventory before sale or use.

Question 37

situational awareness

Answer 37

An individual or organization’s comprehension

Question 38

sole sourcing

Answer 38

Relying on a single supplier.

Question 39

staging

Answer 39

Retrieving or positioning inventory

Question 40

stock out

Answer 40

To fail to meet customer demand

Question 41

stockpiling

Answer 41

Producing or securing goods in advance of demand.

Question 42

Taguchi loss function

Answer 42

A proposed model of the cost of nonconformance

Question 43

time bucket

Answer 43

The smallest interval of time used in planning

Question 44

triage

Answer 44

A priority rule creating sequences

Question 45

type I error

Answer 45

out of control

Question 46

type ii error

Answer 46

is in control

Question 47

yield management

Answer 47

Policies and practices to maximize the benefit