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APICS Detailed schedule and execution vocab

E-commerce Electronic commerce-> The use of computer and telecommunication technologies to conduct business via electronic transfer of data and documents
Effective date The date on which a component or an operation is to be added or removed from a BOM or an assembly process. The eff. dates are used in the explosion process to create demands for the correct items.
What is the relationship among BOM and routing systems with effectivity date? Normally, BOM and routing systems provide for an effectivity start date and stop date, signifying the start or stop of a particular relationship. Effectivity control also may be by serial number rather than date.
First in, first out (FIFO) A method of inventory valuation for accounting purposes. The accounting assumption is that the oldest inventory (first in) is the first to be used (first out), but there is no necessary relationship with the actual physical movement of specific items.
Flexibility-1 The ability of the manuf system to respond quickly, in terms of range and time, to external or internal changes 6 diff categories: Mix, design change over, modification, volume, rerouting, and material. also product flexibility. Useful for coping.
Flexibility-2 The ability of a supply chain to mtigate, or neutralize, the risks of demand forecast variability, supply continuity variability, cycle time plus LT uncertainty, and transit time + customs-clearance time uncertainty during periods of increasing or dim vol
Forward flow scheduling A procedure for building process train schedules that starts with the first stage and proceeds sequentially through the process structure until the last stage is scheduled.
Gateway work center A work center that performs the first operation of a particular routing sequence.
Idle time The time when operators or resources (ex machines) are not producing product because of setup, maintenance, lack of material, lack of tooling, or lack of scheduling
Inactive inventory Stock designated as in excess of consumption within a defined period or stocks of items that have not been used for a defined period.
Inventory accounting The branch of accounting dealing with valuing inventory. Inventory may be recorded or valued using either perpetual or periodic system. A perpetual inventory record is updated frequently or in real time, while a periodic inventory record is counted/measur
Inventory investment The dollars that are in all levels of inventory
Inventory policy A statement of a company's goals and approach to the management of inventories
functional product
global reporting initiative (GRI) A network based organization that pioneered the world's most widely used sustainability reporting framework.
global trade identification number (GTIN) The framework that sets out the principles and performance indicators organizations can use to measure and report their human rights, labor, environment, and anti-corruption practices and outcomes.
horizontal dependency The relationship between the components at the same level in the bill of material, in which all must be available at the same time and in sufficient quantity to manufacture the parent assembly.
ISO 26000 An Int'l std adopted by the Int'l standards org. to assist org in contributing to sustainable development beyond legal compliance through a common understanding of social responsibility.
Created by: chrisheecho