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BE 4.02

OP- 189

TermDefinition
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
Created by: trinity.l382
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