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APICS Strategic management of resources vocab - D,E,F,G,H

Database management system (DBMS) The software designed for organizing data &providing the mechanism for storing, maintaining, and retrieving that data on a physical medium (ie.e DB) A DBMS separates data from the apppgrm & ppl who use the data and permits many diff views of the data
Decision support system (DSS) A computer system designed to assist managers in selecting and evaluating courses of action by providing a logical, usually quantitative, analysis of the relevant factors.
Delivery lead time The amount of time potential customers are willing to wait for the delivery of a good or a service
Design for manufacturability Simplification of parts, products, and processes to improve quality and reduce manuf costs
Discounted cash flow A method of investment analsys in which future cash flows are converted, or discounted to their value at the present time. The net present value of an item is estimated to be the sum of all discounted future cash flows
Disintermediation The process of eliminating an intermediate stage or echelon in a supply chain. Total supply chain operating expense is reduced, total supply chain inventory is reduced, total cycle time is reduced, and profts increase among the remaining echelons
Economic value added In managerial accounting, the net operating profit earned above the cost of capital for a profit center
Enterprise resources planning Framework for organizing, defining, and standardizing the business processes necessary to effectively plan and control an organization so the organization can use its internal knowledge to seek external advantage
Expert system A type of artificial intelligence computer system that mimics human experts by using rules and heuristics rather than deterministic algorithms
Failure mode analysis (FMA) A procedure to determine which malfunctino symptoms appear immediately before or after a failure of a critical parameter in a system. After all the possible causes are listed for each symptoms, the product is designed to eliminate the problems.
Flexibility-1 The bility of the manufsys to respond quickly, in terms of range and time, to external or internal changes. 6 diff cateogries: mix, design changeover, modification, volume, rerouting, and material. Product. useful in coping with various types of uncertain
Focused factory A plant established to focus the entire manuf sys on a limited, concise, manageable set of prod, technologies, volumes, and markets precisely def by the company's competitive strat, techonlogy, and ecnomomics
Forward integration Process of buying or owning elements of the prod cycle and the channel of distribution forward toward the final customer
GAAP (generally accepted accounting princples)
Gantt chart Earlist/best-known type of planning and control chart, especially designed to show graphically the rel btw planned performance and actual performance over time. used for mch loading, monitoring job progress
Global measurements Measurements used to judge the performance of the system as a whole
Group technology (GT) An engineering and manufacturing philosophy that Ids the physical simliarity of parts (common routing) and established their effective production. It provides for rpaid retrieval of existing designs and facilitates a cellular layout
Heijunka In JIT philosophy, an approach to level prod throughout the supply chain to match the planned rate of end product sales.
House of quality(HOQ) structures process that relates customer-defined attrb to the product's technical features needed to support and generate these attrb. this technique achieves this mapping by means of a six step process
Flexibility-2 The ability of a supply chain to mitigate, or neutralize, the risks of demand forecast variability, supply continuity variability, cycle time plus LT uncertainty, and transit time plus customers-clearance time uncertainty during periods of inc/dim volume
HOQ - six step process 1-5 1.ID of cust attrb 2. ID of supporting technical features 3. correlation of the cust attrb with the supprt technical features 4. assignment of priorities to the cust req and technical features 5. evaluation of competitive stances and competitive products
HOQ - six step process 6 6. ID of those technical features to be used (deployed) in the final design of the product. HOQ is part of the quality function deployment (QFD) process and forces designers to consider customer needs and the degree to which the proposed designs satsify.
Hurdle rate A minimum acceptable rate of return on a project
Created by: chrisheecho
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