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APICS CPIM Basics of supply chain dictionary words N,O

Nemawashi Getting a group to agree on a strategy before beginning to implement it
Nesting Act of combining several small processes to form one larger process
Net requirements In MRP, the net requirements for a part or an assembly are derived as a result of applying gross requirements and allocations agasint inventory on hand, scheduled receipts, and safety stock. Net requirements, lot-sized and offset for lead time, become ord
One-card kanban system A kanban system where only a move card is employed. Typically, the WC are adjacent, therefore no prod card is required.
100% inspection The act of inspecting or testing every item in an incoming or outgoing lot
On-time schedule performance A measure(%) of meeting the customer's orginally negotiated elivery request date. Performance can be expressed as a % based on the # of orders, line items, or dollar value shipped on time
Operator flexibility Machine operators having the flexibility to solve problems and to do other tasks beyond their immediate responsibilities.
Ordering cost Used in calculating order qtys. The costs that increase as the # of orders placed increases. It includes the $ related to the clerical work of prep, release, monitor, and receiving orders, the physical handling, inspections, and setup costs
Order point syn:Reorder point, statistical order point, trigger level A set inventory level where, if the total stock on hand plus on order falls to or below that point, action is taken to replenish the stock. The order point is normally calculated as forecasted usage during the replenishment LT+SS
Owner's equity An accounting/financial term (balance sheet classification of accoutns) representing the residual claim by the company's ownders or shareholders, or both, to the company's assets - liabilities
on-hand balance
open order
operating expence
operations management
order entry
order picking
order point
order promising
order qualifiers
order winners
overlapped schedule
Created by: chrisheecho