This philosophy is the belief that cutting inventory and removing non-value added activities in operations can eliminate waste.
What is just in time (JIT)
100
It's purpose is to synchronize a firm's processes with suppliers and customers.
What is supply chain management
100
It involves activities that require delivery of product or service to a customer.
What is order fulfillment
100
Business and product cycles can produce
What is cyclical patterns
200
It should be set at the longest elemental task time to generate the maximum output
What is cycle time
200
A Japanese term for continuous improvement.
What is kaizen
200
Supply chain management tries to match services, information and this with demand
What is flow of materials
200
The ability to meet humanity's current needs without harming future generations.
What is the essence of sustainability
200
It is the best approach for scheduling customer demand at a fancy hotel
What is reservations
300
It is an operation that has the lowest effective capacity of any operation in the process
What is bottleneck
300
It's a qualitative lean tool for eliminating waste that involves the construction of a current state drawing, a future state drawing and implementation plan is required for this
What is value stream mapping (VSM)
300
It reflects weeks of inventory and inventory returns
What is working capital
300
The total amount of greenhouse gasses produced to support operations, usually expressed in equivalent tons of CO2.
What is carbon footprint
300
Expenses related to lost sales are most likely caused by
What is backorders and stockouts
400
It is the total elapsed time from start to finish of a job or a customer being processed at one or more workcenters.
What is throughput
400
It is a stock of materials used to satisfy customer demand or to support the production of services or goods.
What is inventory
400
A U.S. company faced with spiraling costs in their customer care center recreated that service in Luxembourg at a fraction of the cost. This is an example of:
What is offshoring
400
A transportation mode that performs best in terms of noxious emissions per ton-mile?
What is rail
400
It makes sure that demand and supply plans are in balance
What is operations planning and scheduling
500
A systematic management approach that focuses on actively managing constraints that impede a firms' progress towards maximizing profits.
What is theory of constraints
500
It is the planning and controlling of inventories in order to meet the competitive priorities of an organization.
What is inventory management
500
It pays suppliers and distributors to perform processes and provide needed services and materials.
What is outsourcing
500
A surplus inventory that a company holds to protect against uncertainties in demand, lead-time, and supply changes.
What is safety stock
500
These are actions that respond to a given demand pattern.