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BUS: Chapter 8,9,10
| Question | Answer |
|---|---|
| production | the creation of finished goods and services using the factors of production: land, labor, capital, entrepreneurship, and knowledge |
| production management | the term used to describe all the activities managers do to help their firms create goods |
| operations management | A specialized area in management that converts or transforms resources (including human resources) into goods and services. |
| form utility | The value producers add to materials in the creation of finished goods and services |
| process manufacturing | That part of the production process that physically or chemically changes materials. |
| assembly process | The part of the production process that puts together components. |
| continuous process | A production process in which long production runs turn out finished goods over time. |
| intermittent process | A production process in which the production run is short and the machines are changed frequently to make different products. |
| computer-aided design (CAD) | the use of computers in the design of products |
| computer-aided manufacturing (CAM) | the use of computers in the manufacturing of products |
| computer-integrated manufacturing (CIM) | the uniting of computer-aided design with computer-aided manufacturing |
| flexible manufacturing | designing machines to do multiple tasks so they can produce a variety of products |
| lean manufacturing | The production of goods using less of everything compared to mass production. |
| mass customization | tailoring products to meet the needs of a large number of individual customers |
| facility location | the process of selecting a geographic location for a company's operations |
| telecommuting | working from home via computer and modem |
| facility layout | the physical arrangement of resources (including people) in the production process |
| materials requirement planning (MRP) | A computer-based operations management system that uses sales forecasts to make sure that needed parts and materials are available at the right time and place. |
| enterprise resource planning (ERP) | A newer version of materials requirement planning (MRP) that combines the computerized functions of all the divisions and subsidiaries of the firm such as finance, human resources, and order fulfillment into a single integrated software program that uses |
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studyqueen423