Term
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Definition
| The creation of finished goods and services using the factors of production: land, labor, capital, entrepreneurship, and knowledge. |
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Definition
| The term used to describe all the activities managers do to help their firms create goods. |
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Term
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Definition
| A specialized area in management that converts or transforms resources (including human resources) into goods and services. |
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Definition
| The value producers add to materials in the creation of finished goods and services. |
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Definition
| That part of the production process that physically or chemically changes materials. |
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Definition
| That part of the production process that puts together components. |
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Term
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Definition
| A production process in which long production runs turn out finished goods over time. |
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Definition
| A production process in which the production run is short and the machines are changed frequently to make different products. |
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Term
| Computer-Aided Design (CAD) |
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Definition
| The use of computers in the design of products. |
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Term
| Computer-Aided Manufacturing (CAM) |
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Definition
| The use of computers in the manufacturing of products. |
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Term
| Computer-Integrated Manufacturing (CIM) |
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Definition
| The uniting of computer-aided design with computer-aided manufacuting. |
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Term
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Definition
| Designing machines to do multiple tasks so that they can produce a variety of products. |
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Term
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Definition
| The production of goods using less of everything compared to mass production. |
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Definition
| Tailoring products to meet the needs of individual customers. |
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Term
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Definition
| The process of selecting a geographic location for a company's operations. |
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Term
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Definition
| Working from home via computer and modem. |
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Term
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Definition
| The physical arrangement of resources (including people) in the production process. |
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Term
| Materials Requirement Planning (MRP) |
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Definition
| A computer-based operations management system that uses sales forecasts to make sure that needed parts and materials are available at the right time and place. |
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Term
| Enterprise Resources Planning (ERP) |
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Definition
| A newer version of materials requirement planning (MRP) that combines the computerized functions of all the divisions and subsidiaries of the firm - such as finance, human resources, and order fulfillment - into a single integrated software program that uses a single database. |
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Term
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Definition
| The function in a firm that searches for high-quality material resources, finds the best suppliers, and negotiates the best price for goods and services. |
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Term
| Just-In-Time (JIT) Inventory Control |
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Definition
| A production process in which a minimum of inventory is kept on the premises and parts, supplies, and other needs are delivered just in time to go on the assembly line. |
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Term
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Definition
| Consistently producing what the customer wants while reducing errors before and after delivery to the customer. |
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Term
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Definition
| A quality measure that allows only 3.4 defects per million opportunities. |
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Term
| Statistical Quality Control (SQC) |
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Definition
| The process some managers use to continually monitor all phases of the production process to assure that quality is being built into the product from the beginning. |
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Term
| Statistical Process Control (SPC) |
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Definition
| The process of testing statistical samples of product components at each stage of the prodection process and plotting those results on a graph. Any variances from quality standards are recognized and can be corrected if beyond the set standards. |
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Term
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Definition
| The common name given to quality management and assurance standards. |
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Term
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Definition
| A collection of the best practices for managing an organization's impact on the environment. |
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Term
| Program Evaluation and Review Technique (PERT) |
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Definition
| A method for analyzing the tasks involved in completing a given project, estimating the time needed to complete each task, and identifying the minimum time needed to complete the total project. |
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Term
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Definition
| In a PERT network, the sequence of tasks that takes the longest time to complete. |
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Term
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Definition
| Bar graph showing prodution managers what projects are being worked on and what stage they are in at any given time. |
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