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MGO EXAM 2 > keyword > Flashcards

keyword Flashcards

1
Q

ABC policy

ABC policy

A

Prioritizing the management of inventory according to the significance of each item’s annual dollar volume to the organization.

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2
Q

actual authority

A

Authority specified explicitly, often in the job description.

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3
Q

apparent authority

A

Giving the impression of actual authority without having actual authority.

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4
Q

backward scheduling

A

Starting an activity so it will finish on its deadline.

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5
Q

balance delay

A

Percent of a workstation time not in productive use during the operation of a product layout.

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6
Q

battle of the forms

A

Determining which version of a contract has precedence.

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7
Q

boilerplate

A

In purchasing, standard terms and conditions of contract, covering major generic risks.

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8
Q

business process reengineering

A

Evaluation and improvement of an existing process design.

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9
Q

Central Limit Theorem

A

The observation that sample values approximate a normal distribution, regardless of the underlying distribution of the population being sampled.

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10
Q

centralized organizational policy

A

Assigning decision making and authority to one individual or set of individuals within a larger organization.

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11
Q

closeness ratings

A

Standard scoring system for the desirability of proximity within a facility.

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12
Q

collaborative planning, forecasting, and replenishment (CPFR)

A

A business model where supply chain partners share information and plan jointly in inventory management.

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13
Q

commodity/category plans

A

Consolidating related products or services to increase buying leverage.

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14
Q

continuous processing

A

A make-to-stock strategy emphasizing uninterrupted production.

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15
Q

crashing

A

Expediting the completion of a task or group of tasks, to finish a project sooner.

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16
Q

cycle time

A

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.

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17
Q

decentralized organizational policy

A

Distributing decision making and authority to individuals or groups throughout a larger organization.

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18
Q

downstream

A

Closeness to the end customer in the supply chain.

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19
Q

electronic data interchange (EDI)

A

The linking of two information systems from two different organizations to transfer data and conduct transactions.

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20
Q

enterprise resource planning (ERP)

A

A strategic information system that integrates all functional areas of an organization.

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21
Q

fixed-position layout

A

A configuration in which transformation cannot move, requiring all supporting resources and processes to travel to that location.

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22
Q

forward scheduling

A

Starting an activity as soon as possible, regardless of its deadline.

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23
Q

fourth-party logistics (4PL)

A

Logistical consulting provided by a firm without logistical assets.

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24
Q

freight consolidation

A

A third-party logistical service that groups small shipments of several clients into a larger shipment to achieve economies of scale in transport.

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25
Q

freight forwarders

A

Third-party logistics providers that facilitate shipments for clients.

26
Q

functional organizational structure

A

An organization of specialists grouped into distinct departments.

27
Q

Gantt chart

A

A scheduling diagram that illustrates activities across a horizontal time line.

28
Q

geographic information system (GIS)

A

A database for analyzing and presenting information about a location.

29
Q

group technology

A

The organization of diverse products into families of similar production requirements.

30
Q

hybrid layout

A

Any mix of elements from a product layout and a process layout, to gain the advantages of both.

31
Q

implied authority

A

Authority an organization intends the agent to have.

32
Q

inbound logistics

A

Management of flow into a facility or other system.

33
Q

incident

A

An unscheduled event requiring immediate resolution.

34
Q

intermodal container

A

A standard freight container designed to be loaded by the shipper and unloaded at its destination.

35
Q

linear averaging

A

A numerically weighted evaluation method used in situations such as awarding contracts, selecting locations, or ranking candidates.

36
Q

load distance

A

A quantity multiplied by the distance that the quantity will travel, to create an overall expression of the work required by that action.

37
Q

maritime shipping

A

Transportation by sea or other waterway.

38
Q

matrix organizational structure

A

An organization that groups differing functions together according to requirements of the work.

39
Q

milestone

A

A point of significance in the time line of a project.

40
Q

mixed model assembly

A

Production of a range of products with a single assembly line, primarily by varying features on an otherwise standardized product.

41
Q

outbound logistics

A

Management of flow departing a facility or other system.

42
Q

point of indifference

A

When two alternatives have identical merit.

43
Q

precedence relationship

A

A dependency between two tasks, usually requiring that one task be completed before the other task is started.

44
Q

process layout

A

A configuration in which transformation proceeds along multiple, shifting patterns through a facility.

45
Q

procurement

A

The acquisition of goods and services on behalf of an organization.

46
Q

product layout

A

A configuration in which transformation proceeds along a single, unchanging pattern through a facility.

47
Q

project

A

A unique collection of activities creating a particular outcome.

48
Q

purchasing agent

A

A person empowered to buy on behalf of an organization .

49
Q

radio frequency identification (RFID)

A

The tagging of objects with devices that may be detected and interrogated for information by remote electronic readers, allowing identification and tracking without contact.

50
Q

remanufacturing

A

Production of finished goods from the recycled components of returned goods.

51
Q

request for quotation (RFQ)

A

An invitation to offer a price for a particular product or service.

52
Q

sales agent

A

A person empowered to bind a selling organization in contracts with buyers.

53
Q

sales representative

A

A person who solicits orders but cannot bind the selling organization in contracts with buyers.

54
Q

spend analysis

A

Collecting, classifying, and reporting the expenditures of an organization.

55
Q

tender

A

Bid or cost provided to a potential buyer.

56
Q

third-party logistics (3PL)

A

Outsourcing logistics activities to a provider.

57
Q

tier 1 supplier

A

An organization’s immediate supplier.

58
Q

tier 2 supplier

A

The supplier of an organization’s immediate supplier.

59
Q

upstream

A

Closeness to the supplier in the supply chain.

60
Q

vendor-managed inventory (VMI)

A

Transferal of ownership and management of inventory within a system to its external provider, who will be compensated after its use by the system.

MGO EXAM 2 (1 decks)

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