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BE UNIT4.02

TermDefinition
Bottom Line a business net income; the deceive point
Holding cost the money it takes to keep inventory in stock
Inputs in the operations function-- resource utilized
Inventory all the stock a business has on hand
Inventory Control tracking the amount, the kind, and the value of inventory that a business has on hand
Logistics refers to managing the floe of goods and services from production to consumption
Operations the day-to-day activities for continued business functioning
Outputs in the operations function-goods and services
Purchasing the buying of goods and services for a business
Quality Control ensuing the degree of excellence of a good or service
Routing the production activity that determines the sequence of the steps in the production process
Scheduling the production activity that establishes the timetable to be followed in production
Timing in the production process, determining when materials will arrive at a certain destination and how long they will stay here.
Created by: brenda.p538
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