Chapter 9 Flashcards
(22 cards)
An interconnected and coordinated set of elements and processes that converts inputs to desired outputs
system
all the elements and processes that add value as raw materials are transformed into the final products made available to the ultimate consumer
Value Chain
Contracting out certain business functions or operations to other companies
Outsourcing
Mutlidimensional networks of suppliers and outsourcing partners
value we
Transferring a part or all of ma business function to a facility (a different part of the company or another company entirely) in a nother company
outsourcing
A set of connected systems that coordinates the flow of goods and materials from suppliers all the way through to final customers.
Supply Chain
The business procedures, policies, and computer systesm that integrate the various elements of the supply chain into a cohesive sytem
Supply chain management
Goods and materials kept in ostck for producton or sale
inventory
Determining the right quantites of suppliers and products to have on hand and tracking where those items are
procurement
Overseeing all the activities involved in producing goods and service
productions and operations management
Establishing the overall level of resources needed to meet customer demand
capacity planning
In a PERT network diagram, the sequence of operations that reuirees the longest time to complete
critical path
The efficiency with which an organization can convert inputs to outputs
productivity
Systems (in manufacturing and other functional areas) that maximizes productivity by reducing waste and delays
Lean systems
Inventory management in which goods and materials are delivered throughout the production process right before they are needed
JIT costing
The creation of identical goods or services, usually in large quantites
mass production
The creation of unique good or service for each customer
customized production
a manufacturing approach in which part of the product is mass produced and the remaining features are customized for each buyer
mass customization
Measuring quality against established standards after the good or service has been produced and wweding out any defective products
quality control
A more comprehensive approach of companywide policccies, practices, and procedures to ensure that every product meets quality stands
quality assurance
The use of random sampling and tools such as control charts to monitor the production process
statistical process control
A rigorous quality management program that strives to eliminate deviations between the actual and desired performance of a busines system
Six Sigma
