1. The worth of an item, good or service.
  2. The production environment where products can be and usually are finished before a receipt of a customer order.
  3. Actual customer descriptions in words for the functions and features customers desire for goods and services.
    Voice of the customer
  4. The set of functional plans(production plan, sales plan,marketing plan)synchronizing activities across functions that specify production levels, capacity levels, staffing levels, funding levels, and so on, for achieving the intermediate goals and objectives to support the organization's strategic plan.
    Tactical plan
  5. the creation of a high-volume product with large variety so that a customer may specify an exact model out of a large volume of possible end items, while manufacturing cost is low due to large volume.
    Mass customization
  6. Physical arrangement of resources or centers of economic activity(machines, groups of people, workstations, storage areas, aisles) within a facility.
  7. Products whose customer specifications require unique engineering design, significant customization, or new new purchased materials.
  8. A production environment where a good or service can be assembled after receipt of a customer's order.
  9. Earnings from an ongoing business after direct costs of goods sold have been deducted from sales revenue for a given period(gross).
    Gross profit
  10. A production environment where a good or service can be made after receipt of a customer's order.
  11. The global network used to deliver products and services from raw material to end customers through an engineered flow of information, physical distribution, and cash.
    Supply Chain
  12. Framework for organizing, defining, and standardizing the business processes necessary to effectively plan and control an organization so the organization can use its internal knowledge to seek external advantage.
    Enterprise resource planning
  13. Those competitive characteristics that a firm must exhibit to be a viable competitor in the marketplace.
    Order qualifiers
  14. A fluctuation in data that is caused by uncertain or random occurrences.
    Random variation
  15. An arithmetic average of a certain number (n) of the most recent observations. As each new observation is added, the oldest observation is dropped.
    Moving average
  16. The average of the absolute values of the deviations of observed values from some expected value.
    Mean absolute deviation
  17. Demand that is directly related to or derived from the bill of materials structure for other items or end products.
  18. Methods for forcasting sales data when definite upward or downward pattern exists.
  19. Inventory built up to smooth production in anticipation of a peak seasonal demand.
  20. An estimate of future demand.
  21. A forecast based on internal factors, suchas an average of past sales. Ant: extrinsic forecast.
  22. A type of moving average forecasting technique in which planners can choose the relative weighting of the lastest period's actual demand and its forecast in developing the forecast for the next period.
    Exponential Smoothing
  23. An approach to forecasting that is based on intuitive or judgmental evaluation.
  24. Those competitive characteristics that cause a firm's customers to choose that firm's goods and services over those of its competitors.
    Order Winners
  25. The demand for an item that is unrelated to the demand for other items.
  26. A consistent deviation from the mean in one direction (high or low).
  27. An approach to forecasting where historical demand data is used to project future demand.
  28. A need for a particular product or component.
  29. A financial statement showing the resources owned, the debts owed, and the owners's share of a company at a given point in time.
    Balance Sheet
  30. An accounting classification useful for determining the amount of direct materials, direct labor, and allocated overhead associated with the products sold during a given period of time.
    Cost of goods sold
  31. Establishing the overall level (dollar value) of inventory desired.
    Aggregate inventory
  32. Computed by dividing the average inventory level into the annual cost of goods sold.
    Inventory turns
  33. A form of inventory buildup to buffer against some event that may not happen.
    Hedge inventory
  34. Shows the net income for a business over a given period of time.
    Income statement
  35. One-half the average lot size plus the safety stock, when demand and lot sizes are expected to be relatively uniform over time.
    Average inventory
  36. An accounting/financial term (balance sheet classification of accounts) reresenting the residual claim by the company's owners or shareholders, or both, to the company's assets less its liabilities.
    Owner's equity
  37. The cost of holding inventory, usually defined as a percentage of the dollar value of inventory per unit of time (generally one year).
    Carrrying cost
  38. Inventory that results whenever quantity price discounts, shipping costs, setup costs, or similar considerations make it more economical to purchase or produce in larger lots than are needed for immediate purposes.
    Lot-size inventory
  39. Additional inventory above basic pipeline sock to cover projected trends of increasing sales, planned sales promotion programs, seasonal fluctuations, plant shutdowns, and vacations.
    Anticipation inventories
  40. A statement of on-hand quantities or the dollar value of a stockkeeping unit at the end of a period, often determined by a physical inventory.
    Ending inventory
  41. A production schedule that generates material and labor requirements that are enenly spread over time.
    Level Schedule
  42. The amount of time a plan extends into the future.
    Planning Horizon
  43. A production strategy that combines the aspects of both the chase and level production strategies.
  44. A process to develop tactical plans based on setting the overall level of manufacturing output to best satisfy the current planned levels of sales.
    Production Planning
  45. Anything that adds value to a good or service in its creation, production, or delivery.
  46. The date when purchased material or production material is gue to be available for use.
    Due Date
  47. A type of schedule; a line on the master schedule grid that reflects the anticipated build schedule for those items assigned to the master scheduler.
    Master Production
  48. An open order that has an assigned due date.
    Scheduled Receipt
  49. Capacity planning conducted at the business plan level. The process of establishing, measuring, and adjusting limits or levels of long-range capacity.
    Resource Planning
  50. A group of business processes that includes the following activities: demand management, production and resource planning; and master scheduling.
    Master Planning
  51. A type of capacity planning; the process of converting the master production schedule into requirements for key resources, often including labor, machinery, warehouse space, suppliers' capabilities, and, in some cases, money.
    Rough cut
  52. A production stategy that maintains a stable inventory level while varying production to meet demand.
  53. A philosophy of production that emphasizes the minimization of the amount of all the resources (including time) used in the various activities of the enterprise.
    Lean Production
  54. Causes of variation that are inherit in a process over time.
    Common causes
  55. The overall costs associated with prevention activities and the improvement of quality thoughout the firm before, during, and after production of a product.
    Quality costs
  56. Preventive maintenance plus continuing efforts to adapt, modify, and refine equipment to increase flexibility, reduce material handling, and promote continuous flows.
    Total productive maintenance
  57. A graphic comparison of process performance data with predetermined coputed control limits.
    Control chart
  58. The application of statistical techniques to monitor and adjust an operation.
    Statistical process control
  59. A producer's responsilbility to provide 100 percent acceptable quality material to the consumer of the material.
    Quality at the source
  60. A manufacturing or service unit consisting of a number of workstations and the materials transport mechanism and storage buffers that interconnect them.
  61. A methodology that furnishes tools for the improvement of business processes. The intent is to decrease process variation and improve product quality.
    Six sigma
  62. The practice of giving nonmanagerial employees the responsibility and the power to make decisions regarding their jobs or tasks.
    Employment empowerment
  63. A methodology designed to ensure that all the major requirements of the customer are identified and subsequently met or exceeded through the resulting product design process and the design and operation of the supporting production management system.
    Quality function deployment
  64. A graphical tool for ranking causes from most significant to least significant.
    Pareto chart
  65. ...usually spare parts and finished goods, located in the distribution system(warehouses, or in-transit between warehouses and the consumer).
    Distribution inventory
  66. The raw material, part, or subassembly that goes into a higher level assembly, compound, or other item.
  67. The function of determining what material is needed and when, and maintaining proper due dates for required materials.
    Priority Planning
  68. A technique used in MRP where a planned order receipt in one time period will require the release of that order in an earlier time period based on the lead time for the item.
    Lead-time offset
  69. A set of techniques that uses bill of material data, inventory data, and the master production schedule to calculate requirements for materials.
    Material requirements planning
  70. The item produced from one or more components.
  71. An artificial grouping of items or events in bill-of-material format used to facilitate master scheduling and material planning.
    Planning bill of material
  72. To use the bill of material to calculate component quantities.
  73. The total independent and dependent demand for a component before the netting of on-hand inventory and scheduled receipts.
    Gross requirement
  74. In MRP and MPS, the capability to indentify for a given item the sources of its gross requirements and/or allocation.
  75. In MRP,__________ are derived as a result of applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock.
    Net requirements
  76. The quantity planned to be received at a future date as a result of a planned order release.
    Planned order receipt
  77. A measurement (usually expressed as a percentage) of the actual ouput to the standard output expected.
  78. The resources needed to produce the projected level of work required from a facility over a time horizon.
    Capacity requirements
  79. A technique where the schedule is computed starting with the due date for the order and working backward to determine the requred start date and/or due dates for each operation.
    Backward scheduling
  80. Hours available x effeciancy x utilization
    Rated capacity
  81. Assigning no more work to a work center than the work center can be expected to execute in a given time period.
    Finite loading
  82. The function of routing and dispatching the work to be accomplished through the production facility and of performing supplier control.
    Production activity control
  83. The ratio of direct time charged (run time plus setup time) to the clock time available.
  84. The capability of a system or resource to produce a quantity of output in a particular time period.
    Capacity available
  85. The amount of planned work scheduled for and actual work released to a facility, work center, or operation for a specific span of time.
  86. A technique where the scheduler proceeds from a known start date and computes the completion date for an order, usually proceeding from the first operation to the last.
    Forward scheduling
  87. Calculation of the capacity required at work centers in the time periods required regardless of the capacity available to perform this work.
    Infinite loading
  88. Comparing actual to planned performance and taking corrective action, as needed, to align performance with plan.
  89. Those costs may include lost sales, backorder costs, expediting, and additional manufacturing and purchasing costs.
    Stockout costs
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