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Area of management concerned with planning, implementing and supervising the production of goods and services
What is operations management?
Strategy to increase efficiency and decrease waste by receiving goods from suppliers only as they are needed in the production process
Just-in-time inventory system (JIT)
Quality control methodology that aims to reduce defects to no more than 3.4 defects per million units
What is Six Sigma?
The maximum level of output that a company can sustain to make a product or provide a service
What is capacity?
The manufacturing approach of using computers to control the entire production process
What is computer-integrated manufacturing (CIM)?
A group of employees that meet regularly to consider ways of resolving problems and improving production
What is a quality circle?
Keeping the right number of parts and products in stock to avoid shortages, overstocks, and other costly problems
What is inventory control?
The organized acquisition of goods and services on behalf of an organization
What is purchasing?
The satisfaction received from consuming a good or service
What is computer-aided design (CAD)?
Award established by the U.S. Congress in 1987 to raise awareness of quality management and recognize companies that have implemented successful quality management systems
What is the Malcolm Baldrige National Quality Award?
International organization made up of national standards bodies
What is the International Organization for Standardization (ISO)?
What is lean manufacturing?
Production method designed to easily adapt to changes in the type and quantity of the product being manufactured
What is a flexible manufacturing system (FMS)?
Transferring a business operation that had been moved overseas back to the country where it was originally located
What is reshoring?
The production of large quantities of a standardized product, often by using assembly lines or automation technology
What is mass production?
The incorporation of customer needs and wants into the features and benefits of the products being offered
What is form utility?
Process through which a business seeks to ensure that product quality is maintained or improved
What is quality control?
The arrangement of machines, work areas and service areas within a factory
What is plant layout?
In this manufacturing process, raw materials are broken down to form new products
What is the analytical process?
In this manufacturing process, materials are combined to form a new product
What is synthetic processing?
The use of software and computer-controlled machinery to automate a manufacturing process
What is computer-aided manufacturing (CAM)?
Computer-based inventory management system designed to improve productivity for businesses
What is materials requirements planning (MRP)?
Manufacturing method of producing several different products using the same production line
What is the intermittent process?
A productive process that requires a high percentage of investment in fixed assets (i.e., machines, capital, plant) to produce goods
What is capital-intensive technology?