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4.02 key terms

TermDefinition
bottom line business net income the device point
holding cost amount of money it takes to keep inventory in stock
inputs in the operations function resources utilized
inventory all stocks that a business has on hand
inventory control tracking amount refers to managing the flow of goods and services from production to consumption
logistics managing flow of goods and services from production to consumption
operations day to day activites for continued business functioning
outputs operation function goods or services
purchasing buying of goods and services for a business
quality control ensuring degree of excellemce of a good or service
routing production activity determines sequence in steps in production process
scheduling production activity estabishes timeable to be followed in poduction
timing production process determining material will arrive at a certian destination & how long they will stay there
Created by: sheyla07
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