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APICS BOS Vocab A

APICS CPIM Basics of supply chain dictionary words A

QuestionAnswer
ABC classification The classification of a group of item by decreasing value. Inventory 10~20%:A 20%:B 60~30%C Value: 50~70%:A 20%:B 10~30%:C
Assembly line An assembly process in which equipment and work centers are laid out to follow the sequence in which raw materials and parts are assembled.
Assets An accounting/financial term (balance sheet classification of accounts) representing the resources owned by a company, whether tangible (cash, inventories) or intangible ( patent, goodwill). assets may have a short-term or long term time horizon
Assignable cause A source of variation in a process that can be isolated, especially when it's significantly larger magnitude or different origin readily distinguishes it from random causes of variation SYN:Special cause
Automated storage/retrieval system (AS/RS) A high-density, rack inventory storage system with vehicles automatically loading and unloading the racks
Available inventory The on-hand inventory balance minus allocations, reservations, backorders, and (usually) quantities held for quality problems. Often called beginning available balance. Syn: beginning available balance, net inventory
Available-to-promise(ATP) The uncommitted portion of a company's inventory and planned production maintained in the master schedule to support customer-order promising.
ATP quantity The uncommitted inventory balance in the first period and is normally calculated for each period in which an MPS receipt is scheduled. in the first period, ATP includes on-hand inventory less cust orders that are due and over due.
Three methods of ATP calculation Discrete ATP, cumulative ATP with look-ahead, and cumulative ATP without look-ahead.
Average cost per unit The estimated total cost, including allocated overhead, to produce a batch of goods/TOT # of units produced.
Average inventory Average/2+Safety stock, when demand and lot sizes are expected to be relatively unitform over time. The average can be calculated as an average of several inventory observations taken over several historical time periods.
What do you do when your demand and lot sizes are not uniform The stock level versus time can be graphed to determine the average.
Andon An electronic board that provides visibility of floor status and supplies information to help coordinate the efforts to linked work centers. Signal lights are green(running), red(stop_, and yellow(needs attention)
Actual costs The labor, material, and associated overhead costs that are charged against a job as it moves through the production process
Advanced ship notice (ASN) An electronic data interchage (EDI) notification of shipment of product.
Anticipation inventories Additional inventory above basic pipeline stock to cover projected trends of increasing sales, planned sales promotion programs, seasonal fluctuations, plant shutdowns, and vacations
Assemble-to-order A production environment where a good or service can be assembled after receipt of a customer's order. The key components used in the assembly or finishing process are planned and usually stocked.
What initiates assemble-to-order production? Receipt of a customized product order. This is useful where a large number of end products (based on the selection of options and accessories) can be assembled from common components
advanced planning and scheduling (APS) Techniques that deal with analysis and planning of logistics and manufacturing during short, intermediate, and long term time periods. APS describes any computer program that uses advanced mathematical algorithms or logic to perform optimization.
Created by: chrisheecho
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