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Stack #1775069

definitionterm
Definition,
Estimating the quality of conformance of large batches through inspection of smaller samples. acceptance sampling
Medium-term tactical capacity planning in response to changing demand. aggreage planning
Deviations with a specific cause or source. assignable variation
A description of all raw materials and intermediate assemblies required to create a finished product. bill of materials
A creation from what happened to be available during its formation. bricolage
Guidelines and arrangements for response to disruption of critical business functions, to restore and maintain operation. business continuity plan
An item required for immediate transformation into another item, known as its parent. child
A tendency to favor information that supports a hypothesis and to suppress or neglect information that refutes it. confirmation bias
The likelihood of a type II error. consumer's risk
The critical time prior to an impending change of great significance. crisis
Software that assists human decision making in a particular setting. decsion support system
A single identifiable deviation from acceptable conformance. defect
Requirements for child items; also known as component demand. dependent demand
Assigning work in real-time, often in the context of mobile resources. dispatching
A technological change that profoundly alters an existing market unexpectedly. disruptive inovation
Percent of a resource in productive use. efficiency
The level of inventory as measured at the conclusion of a particular time period. This level is assumed to be the beginning inventory of the next time period. ending inventory
A strategic information system that integrates all functional areas of an organization. enterprise resource planning
The mathematical expectation of a random variable, calculated as the weighted average of all possible values that may occur. expected value
Inventory awaiting sale to consumers. finished goods
A scheduling approach that recognizes capacity constraints. finite goods
The length of time a job spends in the system. flowtime
Starting an activity as soon as possible, regardless of its deadline. forward scheduling
Adopting too narrow a view in the analysis of a problem. framing
A set of distinct conditions associated with a chance event, only one of which will actually occur. future states or nature
The combined, overall demand for an item. gross requirements
A tendency to neglect full critical evaluation of a decision in favor of minimizing conflict within a group of decision makers. group think
An unscheduled event requiring immediate resolution. incident
A predetermined structure that organizes available parties into one temporary organization to resolve an incident. incident command system
Requirements for an item from outside the system, also known as customer demand. independent demand
A scheduling approach that ignores capacity constraints. infinite loading
An earlier and alternate term for lean operation, in which a system implicitly operates with minimum of inventory and waste. just in time
Operating without waste. lean
Assigning work to resources. loading
An ordering policy in which orders are sized to match individual demands exactly, theoretically accumulating no inventory. lot for lot
The length of time required to complete a finished schedule. makespan
A statement of independent demand for all inventory items in an MRP system. master production schedule
The lowest speed of perfectly level production that will not produce any shortages within a demand forecast. minimum constant production
Production of a range of products with a single assembly line, primarily by varying features on an otherwise standardized product. mixed model assembly
The randomness inherent in a process; also known as random variation. natural variation
Choosing a quantity to meet a single period of uncertain demand, weighing the costs of ordering too much and too little. newsvendor problem
A tendency to assume a process is acceptable if its output is acceptable. outcome bias
An item created from one or more other items, known as its children. parent
Control chart used in monitoring the proportion of some characteristic within a sample. p-chart
Avoidance of preventable risk, the first and most basic stage of risk management. proaction
The natural variation in an existing process, stated relative to the allowable variation specified in a product’s design. process capability
The likelihood of a type I error. producer'srisk
To increase or spread elsewhere. propagate
Duplication of an element within a system. redundancy
The probability that an element or a system will perform as specified. reliability
The ability of a system to adjust to or recover from a shock or sudden change. resilience
The possibility of loss or the source of such a possibility. risk
Providing stable reliability despite changing conditions. robustness
Assigning meaning to experience. sense-making
To determine the order in which requirements are met. sequenceing
An individual or organization’s comprehension of the surrounding environment and its potential near-future states. situational awareness
qRetrieving or positioning inventory or other resources before they are required. staging
The smallest interval of time used in planning, such as hourly, daily, or weekly. time bucket
Allowable variation from a standard. tolerance
Policies and practices to maximize the benefit of a perishable resource such as service capacity. yeild management
Created by: 658474599