Chapter 3: Business Functions and Supply Chains Flashcards
______ defines the degree to which a goal is achieved.
Effectiveness
_______ is the relationship between resources expended and benefits gained in achieving a goal.
Efficiency
Efficiency = Benefits / Costs
_______ specifically refers to the efficiency of human resources.
Productivity
________ system helps serve customer better and faster. It is often combined with SCM systems to create an ERP system.
Customer relationship management (CRM)
A ________ is an authorization to perform work for a specific purpose, such as constructing a part of an airplane.
work order
________ are systems that deal specifically with cash.
Cash management systems (CMSs)
________ is the electronic transfer of cash from one bank account to another.
Electronic funds transfer (EFT)
________ is the time between generating an idea for a product and completing a prototype that can be mass manufactured.
Time to market
_______ is the process of a group of colleagues meeting and working collaboratively to generate creative solutions and new ideas.
Brainstorming
________ tools help to create, modify, and store designs and drawings electronically.
Computer-aided design (CAD)
_______ creates one-of-a-kind products to test design in three dimensions. Allows rapid production of a model.
Rapid prototyping
_______ systems instruct machines how to manufacture parts and assemble products.
Computer-aided manufacturing (CAM)
______ consists of procurement of raw materials, processing materials into goods, and delivering goods.
Supply chain
________ consists of monitoring, controlling, and facilitating supply chains.
Supply chain management (SCM)
_______ is also known as inventory control.
Material requirements planning (MRP)
______ is a list of all raw materials and subcomponent demands to produce a product.
Bill of materials (BOM)
________ is the optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines.
Economic order quantity (EOQ)
________ combines material requirements planning (MRP) with other manufacturing-related activities to plan the entire manufacturing process.
Manufacturing resource planning (MRP II)
The _______ specifies how production capacity is to be used to meet customer demands.
Master production schedule (MPS)
________ manufacturing is where suppliers ship parts directly to assembly lines, saving the cost of warehousing raw materials, parts, and subassemblies.
Just-in-time (JIT)
_______ is a technology containing circuitry that allows recording of information about a product.
Radio Frequency Identification (RFID)
_________ is a code on an RFID tag that provides more information than the Universal Product Code (UPC).
Electronic Product Code (EPC)
________ systems are designed to support marketing, sales, and customer service.
Customer relationship management (CRM)
_______ helps discover populations and regions that are most likely to purchase product.
Market research
