Terminology 6 Flashcards
Plant
A facility where goods are manufactured or assembled. A facility where goods are manufactured or assembled.
Idle Plant
A manufacturing facility that is not currently in use or producing.
Fab Plant
A facility where semiconductor chips are manufactured.
Captive Plants
Manufacturing plants dedicated to supplying parts or products exclusively for a parent company.
Ramped up
Increased or expanded production.
Procurement
The process of acquiring goods or services for a company.
Clusters
Geographic concentrations of interconnected companies or industries.
Reverse Flow
The process of moving goods from the customer back to the supplier, such as returns or recycling.
Refurbishment
The process of restoring used products to a good condition for resale.
Vetting
The process of thoroughly evaluating or checking something or someone before approval.
Proprietary
Something owned or controlled by a company, often with restricted use by others.
Cyber phishing
A fraudulent attempt to steal personal or sensitive information through deceptive emails or websites.
Uberisation
The transformation of traditional industries through the use of digital platforms that connect service providers and consumers directly
Salvage
The recovery of useful parts or materials from damaged or obsolete products.
