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BE 4.02
OP- 189
Term | Definition |
---|---|
Bottom line | A bussiness's net income ; the decisive point |
Computer aided design (CAD) | The use of technology and software to create, tes, and rework products in the virtual world before spending money to produce them in the physical world |
Computer engineering (CAE) | See computer- aided design |
Computer- aided manufacturing(CAM) | A process in which computers are used to collect and store data and instruct auntomated manufacuing equipment in the production process |
Computer- integrated manufacturing (CIM) | An operating system that integrates techology and software throught the entire production process from start to finish |
Finished goods inventory | The producer's inventory of completed products that are ready to be marketed; also known as finished products inventory |
Holding cost | The money it takes to keep inventory inn stock |
Inputs | The specfic economic resources used inn producing goods and services |
International Organization for Standarization(ISO) | The worlds developer of voluntary internationall standards for product, services, and good practice |
Inventory | All stock that a business has on hand |
Inventory control | Tracking the amount, kind, and value of inventory that abusiness has on hand |
LOgistics | Refers to managing the flow of goods andservices from production to consumption |
Net income | Money remaining after operating expenses are subtracted from gross profit |
Operating system | The process a business uses to manufacturre a good or prrovide a service; consits of people, places, materials, equipment, and information |
Operations | The day- to- day activites for continued business functioning |
Outputs | The goods and services produced as the result of comboining inputs |
Partially finihed goods Inventory | The produceer's inventory of products that are work in progress |