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chapter8-UVI BUS 112
Intro to Business by Koopar- Chapter 8
| Term | Definition |
|---|---|
| operations management | all activities required to produce goods and services |
| mass production | a manufacturing process that lowers the cost required to produce a large number of identical or similar products over a long period of time |
| analytical process | a process in operations management in which raw materials are broken into different component parts |
| synthetic process | a process in operations management in which raw materials or components are combined to create a finished product |
| utility | the ability of a good or service to satisfy a human need |
| form utility | utility created by people converting raw materials, finances, and information into finished products |
| service economy | an economy in which more effort is devoted to the production of services than to the production of goods |
| research and development (R&D) | a set of activities intended to identify new ideas that have the potential to result in new goods and services |
| design planning | the development of a plan for converting an idea into an actual product or service |
| product line | a group of similar products that differ only in relatively minor characteristics |
| product design | the process of creating a set of specifications from which a product can be produced |
| capacity | the amount of products of services that an organization can produce in a given time |
| labor-intensive technology | a process in which people must do most of the work |
| capital-intensive technology | a process in which machines and equipment do most of the work |
| plant layout | the arrangement of machinery, equipment, and personnel within a production facility |
| planning horizon | the period during which an operational plan will be in effect |
| purchasing | all the activities involved in obtaining required materials, supplies, components, and parts from other firms |
| inventory control | the process of managing inventories in such a way as to minimize inventory costs, including both holding costs and potential stock-out costs |
| material requirements planning (MRP) | a computerized system that integrates production planning and inventory control |
| just-in-time inventory system | a system designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage and holding costs are minimized |
| scheduling | the process of ensuring that materials and other resources are at the right place at the right time |
| Malcolm Baldrige National Quality Award | an award given by the U.S. president to organizations that apply and are judged to be outstanding in specific managerial tasks that lead to improved quality for both products and services |
| quality control | the process of ensuring that goods and services are produced in accordance with design specifications |
| inspection | the examination of the quality of work-in-process |
| quality circle | a team of employees who meet on company time to solve problems of product quality |
| Six Sigma | a disciplined approach that relies on statistical data and improved methods to eliminate defects for a firm's products and services |
| International Organization for Standard (ISO) | a network of national standards institutes and similar organizations from 162 different countries that is charged with developing standards for quality products and services that are traded throughout the globe |
| productivity | the average level of output per worker per hour |
| lean manufacturing | (sometimes referred to as lean production or just lean) a manufacturing approach that enhances efficiency, identifies and eliminates waste, and increases profits |
| automation | the total or near-total use of machines to do work |
| robotics | the use of programmable machines to perform a variety of tasks by manipulating materials and tools |
| computer-aided design (CAD) | the use of computers to aid in the development of products |
| computer-aided manufacturing (CAM) | the use of computers to plan and control manufacturing processes |
| computer-integrated manufacturing (CIM) | a computer system that not only helps to design products but also controls the machinery needed to produce the finished product |
| continuous process | a manufacturing process in which a firm produces the same product(s) over a long period of time |
| flexible manufacturing system (FMS) | a single production system that combines electronic machines and computer-integrated manufacturing |
| intermittent process | a manufacturing process in which a firm's manufacturing machines and equipment are changed to produce different products |
Created by:
mahepath
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