unit 7 vocabulary

Question 1

the process involved in sourcing, keeping track of the stock of, and distributing inventory

Answer 1

inventory management

Question 2

the creation of a good on a large scale utilizing machinery

Answer 2

manufacturing

Question 3

After knowing (through proper marketing) what the customer wants, planning is the process of figuring out how to produce it. Step one is typically sourcing, or finding the necessary suppliers to acquire the raw materials needed for production. A supplier is a business vendor who sells materials to another business which then converts those materials into a consumable good.

Answer 3

Planning

Question 4

The purchasing department is in charge of making the purchases while keeping the company within budget. They also see to it that quality and timely delivery are ensured on those purchases.

Answer 4

Purchasing

Question 5

the process of arranging each element of the production process so a final product is smoothly completed.

Answer 5

schedueling

Question 6

the process involved in sourcing, keeping track of the stock of, and distributing inventory.

Answer 6

inventory management