APICS Deck 5 OO Flashcards Preview

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Flashcards in APICS Deck 5 OO Deck (499)
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order backlog

Syn: backlog, past due order.O

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work package

In project management, a deliverable at the bottom of a work breakdown structure. This may be treated as a subproject to be assigned to a project manager to plan and execute, in which case this manager will define new activities.W

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technology transfer

The transmission of technology (e.g., knowledge, skills, software, hardware) from one country, organization, business, or entity to another country, organization, business, or entity.T

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end-user computing

Use of computer resources by non-information-system personnel to enter, retrieve, manipulate, or print data.E

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SEC

Abbreviation for the Securities and Exchange Commission (U.S.).S

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predictable maintenance

Syn: predictive maintenance.P

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description by market grade/industry standard

A method to identify a product or service required when there is a high level of understanding between user and supplier.D

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days outstanding

A term used to imply the amount of an asset or liability measured in days of sales. For example, accounts payable days are the typical number of days that a firm delays payments of invoices to its suppliers.D

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risk category

A cluster of risk causes with a label such as external, environmental, technical, or organizational.R

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body of knowledge

The knowledge in a given area that a person is expected to understand to be certified as a practitioner.B

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indicator

An index of business activities.I

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control limit

A statistically determined line on a control chart (upper control limit or lower control limit). If a value occurs outside of this limit, the process is deemed to be out of control.C

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seller’s market

A market condition in which goods cannot easily be secured (purchased) and when the economic forces of business tend to cause goods to be priced at the supplier’s estimate of value.S

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logistics system

The planning and coordination of the physical movement aspects of a firm’s operations such that a flow of raw materials, parts, and finished goods is achieved in a manner that minimizes total costs for the levels of service desired.L L

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off-grade

A product whose physical or chemical properties fall outside the acceptable ranges.O

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perceived quality

One of the eight dimensions of quality that refers to a subjective assessment of a product’s quality based on criteria defined by the observer.P

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contactless

Using radio frequency identification or similar technologies to record data about an item electronically without physical contact with the item.C

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process capability

Refers to the ability of the process to produce parts that conform to (engineering) specifications. Process capability relates to the inherent variability of a process that is in a state of statistical control. See: Cp, Cpk, process capability analysis.P

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run-out list

1) A list of items to be scheduled into production in sequence by the dates at which the present available stock is expected to be exhausted. 2) A statement of ingredients required to use up an available S resource (e.g., how much “a” resource is required to consume 300 pounds of “x”).R

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functional manager

A manager responsible for a specialized department, such as accounting or engineering.F

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P:D ratio

A ratio where P is the manufacturing lead time and D is the customer required delivery time. If the P:D ratio exceeds 1.00, either a customer’s order will be delayed or production will start as the result of a forecast (make-to-stock) or an anticipated customer order (make-to-order).P

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B2B

Abbreviation for business-to-business commerce.B

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specification

A clear, complete, and accurate statement of the technical requirements of a material, an item, or a service, and of the procedure to determine if the requirements are met.S

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RAM

Abbreviation for responsibility assignment matrix.R

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accreditation

Certification by a recognized body of the facilities, capability, objectivity, competence, and integrity of an agency, service, operational group, or individual to provide the specific service or operation needed. For example, the Registrar Accreditation Board accredits those organizations that register companies to the ISO 9000 Series Standards.A

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just in time (JIT)

A philosophy of manufacturing based on planned elimination of all waste and on continuous improvement of productivity. It encompasses the successful execution of all manufacturing activities required to produce a final product, from design engineering to delivery, and includes all stages of conversion from raw material onward. The primary elements of just in time are to have only the required inventory when needed; to improve quality to zero defects; to reduce lead times by reducing setup times, queue lengths, and lot sizes; to incrementally revise the operations themselves; and to accomplish these activities at minimum cost. In the broad sense, it applies to

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vendor-managed inventory (VMI)

A means of optimizing supply chain performance in which the supplier has access to the customer’s inventory data and is responsible for maintaining the inventory level required by the customer. This activity is accomplished by a process in which resupply is done by the vendor through regularly scheduled reviews of the on-site inventory. The on-site inventory is counted, damaged or outdated goods are removed, and the inventory is restocked to predefined V levels. The vendor obtains a receipt for the restocked inventory and accordingly invoices the customer. See: continuous replenishment.V

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centralized computer network

A network in which there is one computer (or possibly more) linked to all others in a given enterprise.C

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bin

1) A storage device designed to hold small discrete parts. 2) A shelving unit with physical dividers separating the storage locations.B

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contribution margin pricing

A method of setting prices based on the contribution margin. It provides a ceiling and a floor between which the price setter operates.