keyword Flashcards
ABC policy
ABC policy
Prioritizing the management of inventory according to the significance of each item’s annual dollar volume to the organization.
actual authority
Authority specified explicitly, often in the job description.
apparent authority
Giving the impression of actual authority without having actual authority.
backward scheduling
Starting an activity so it will finish on its deadline.
balance delay
Percent of a workstation time not in productive use during the operation of a product layout.
battle of the forms
Determining which version of a contract has precedence.
boilerplate
In purchasing, standard terms and conditions of contract, covering major generic risks.
business process reengineering
Evaluation and improvement of an existing process design.
Central Limit Theorem
The observation that sample values approximate a normal distribution, regardless of the underlying distribution of the population being sampled.
centralized organizational policy
Assigning decision making and authority to one individual or set of individuals within a larger organization.
closeness ratings
Standard scoring system for the desirability of proximity within a facility.
collaborative planning, forecasting, and replenishment (CPFR)
A business model where supply chain partners share information and plan jointly in inventory management.
commodity/category plans
Consolidating related products or services to increase buying leverage.
continuous processing
A make-to-stock strategy emphasizing uninterrupted production.
crashing
Expediting the completion of a task or group of tasks, to finish a project sooner.
cycle time
The ‘pace’ of a product layout, being the total amount of time each workstation has to complete its assigned tasks once during ongoing operation of the system.
decentralized organizational policy
Distributing decision making and authority to individuals or groups throughout a larger organization.
downstream
Closeness to the end customer in the supply chain.
electronic data interchange (EDI)
The linking of two information systems from two different organizations to transfer data and conduct transactions.
enterprise resource planning (ERP)
A strategic information system that integrates all functional areas of an organization.
fixed-position layout
A configuration in which transformation cannot move, requiring all supporting resources and processes to travel to that location.
forward scheduling
Starting an activity as soon as possible, regardless of its deadline.
fourth-party logistics (4PL)
Logistical consulting provided by a firm without logistical assets.
freight consolidation
A third-party logistical service that groups small shipments of several clients into a larger shipment to achieve economies of scale in transport.
freight forwarders
Third-party logistics providers that facilitate shipments for clients.
functional organizational structure
An organization of specialists grouped into distinct departments.
Gantt chart
A scheduling diagram that illustrates activities across a horizontal time line.
geographic information system (GIS)
A database for analyzing and presenting information about a location.
group technology
The organization of diverse products into families of similar production requirements.
hybrid layout
Any mix of elements from a product layout and a process layout, to gain the advantages of both.
implied authority
Authority an organization intends the agent to have.
inbound logistics
Management of flow into a facility or other system.
incident
An unscheduled event requiring immediate resolution.
intermodal container
A standard freight container designed to be loaded by the shipper and unloaded at its destination.
linear averaging
A numerically weighted evaluation method used in situations such as awarding contracts, selecting locations, or ranking candidates.
load distance
A quantity multiplied by the distance that the quantity will travel, to create an overall expression of the work required by that action.
maritime shipping
Transportation by sea or other waterway.
matrix organizational structure
An organization that groups differing functions together according to requirements of the work.
milestone
A point of significance in the time line of a project.
mixed model assembly
Production of a range of products with a single assembly line, primarily by varying features on an otherwise standardized product.
outbound logistics
Management of flow departing a facility or other system.
point of indifference
When two alternatives have identical merit.
precedence relationship
A dependency between two tasks, usually requiring that one task be completed before the other task is started.
process layout
A configuration in which transformation proceeds along multiple, shifting patterns through a facility.
procurement
The acquisition of goods and services on behalf of an organization.
product layout
A configuration in which transformation proceeds along a single, unchanging pattern through a facility.
project
A unique collection of activities creating a particular outcome.
purchasing agent
A person empowered to buy on behalf of an organization .
radio frequency identification (RFID)
The tagging of objects with devices that may be detected and interrogated for information by remote electronic readers, allowing identification and tracking without contact.
remanufacturing
Production of finished goods from the recycled components of returned goods.
request for quotation (RFQ)
An invitation to offer a price for a particular product or service.
sales agent
A person empowered to bind a selling organization in contracts with buyers.
sales representative
A person who solicits orders but cannot bind the selling organization in contracts with buyers.
spend analysis
Collecting, classifying, and reporting the expenditures of an organization.
tender
Bid or cost provided to a potential buyer.
third-party logistics (3PL)
Outsourcing logistics activities to a provider.
tier 1 supplier
An organization’s immediate supplier.
tier 2 supplier
The supplier of an organization’s immediate supplier.
upstream
Closeness to the supplier in the supply chain.
vendor-managed inventory (VMI)
Transferal of ownership and management of inventory within a system to its external provider, who will be compensated after its use by the system.
