APICS Deck 4 OO Flashcards Preview

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Flashcards in APICS Deck 4 OO Deck (499)
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cost control

Applying procedures that monitor the progress of operations against authorized budgets, and taking action to achieve minimal costs.C

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impulse response

How quickly an estimate or forecast changes when the underlying data of the estimate have changed.I

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teardown bill of material

Syn: disassembly bill of material.T

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Abbreviation for automated guided vehicle system.A

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Drawing the organization’s processes or relationships that form a business process.M M

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production schedule

A plan that authorizes the factory to manufacture a certain quantity of a specific item. It is usually initiated by the production planning department.P

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third-party logistics company

A company that manages all or part of another company’s product delivery operations.T

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allowable cost

A reasonable cost specifically permitted under Federal Acquisition Regulation (FAR) requirements.A

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mathematical programming

The general problem of optimizing a function of several variables subject to a number of constraints. If the function and constraints are linear in the variables and a subset of the constraints restricts the variables to be nonnegative, a linear programming problem exists.M

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flow process chart

A graphic, symbolic representation of the work performed, or to be performed, on a product as it passes through some or all of the stages of a process. Typically, the information included in the chart is quantity, distance moved, type of work done (by symbol with explanation), and equipment used. Work times may also be included. The flow process chart symbols (ASME Standard Symbols) generally used are as follows: O operation: A subdivision of a process that changes or modifies a part, material, or product and is done essentially at one workplace location → transportation (move): Change in location of a person, part, material, or product from one workplace to another ■ inspection: Comparison of observed quality or quantity of a product with a quality or quantity standard ▼ storage: Keeping a product, material, or part protected against unauthorized removal D delay: An event that occurs when an object or person waits for the next planned action O combined activity: Adjustment during testing (e.g., combination of the separate operation and inspection symbols) Syn: process flowchart, process flow diagram. See: flowchart, process flow.F

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master budget

The document that consolidates all other budgets of an organization into an overall plan, including the projection of a cash flow statement and an operating statement for the budget period as well as a balance sheet for the end of the budget period. Syn: static budget.M

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shipping point

The location from which material is sent. Ant: receiving point.S

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outbound stockpoint

The designated locations near the point of use on a plant floor to which material produced is taken until it is pulled to the next operation.O

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discussion list

A group of people who have all signed up on a listserver to participate via email in the discussion of a given topic.D

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batch processing

1) A manufacturing technique in which parts are accumulated and processed together in a lot. 2) A computer technique in which transactions are accumulated and processed together or in a lot. Syn: batch production.B

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pull signal

Any signal that indicates when to produce or transport items in a pull replenishment system. For example, in just-in-time production control systems, a kanban card is used as the pull signal to replenish parts to the using operation. See: pull system.P

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center-of-gravity models

Syn: gravity models.C

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functional benchmarking

Benchmarking a single function within an organization rather than the entire organization. See: benchmarking.F

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An acronym for supplier, input, process, output, customer (pronounced “sye-pahk”).S

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bill of material (BOM)

1) A listing of all the subassemblies, intermediates, parts, and raw materials that go into a parent assembly showing the quantity of each required to make an assembly. It is used in conjunction with the master production schedule to determine the items for which purchase requisitions and production orders must be released. A variety of display formats exist for bills of material, including the single-level bill of material, indented bill of material, modular (planning) bill of material, transient bill of material, matrix bill of material, and costed bill of material. 2) A list of all the materials needed to make one production run of a product, by a contract manufacturer, of piece parts/components for its customers. The bill of material may also be called the formula, recipe, or ingredients list in certain process industries.B

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Abbreviation for scan-based trading.S

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Abbreviation for activity-on-arrow network.A

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tool order

A document authorizing issue of specific tools from the tool crib or other storage. Syn: tool issue order.T

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program manager

A person assigned program management responsibilities for the implementation activities associated with a new or ongoing product or service offering to customers. See: program management.P

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The sublabeling of items to identify their particular makeup and to separate one lot from other production lots of the same item.G

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An agreement by which a firm first sells its assets to a financial institution and then leases these same assets from the financial institution.S

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less-than-truckload (LTL)

Either a small shipment that does not fill the truck or a shipment of not enough weight to qualify for a truckload quantity (usually set at about 10,000 lbs.) rate discount, offered to a general commodity trucker.L

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floating order point

An order point that is responsive to changes in demand or to changes in lead time.F

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A solution to a problem that is best from a narrow point of view but not from a higher or overall company point of view. For example, a department manager who would not have employees work overtime to minimize the department’s operating expense may cause lost sales and a reduction in overall company profitability.S