A computer-based information system that translates master schedule requirements for end items into time-phased requirements for subassemblies, components, and raw materials
What is Materials Requirements Planning (MRP)?
100
A stock or store of goods or information.
What is Inventory?
100
A manual system that signals the need for parts or materials.
What is Kanban?
100
The part of a supply chain involved with the forward and reverse flow of goods, services, cash, and information.
What is Logistics?
100
Unique, one-time operations designed to accomplish a specific set of objectives in a limited time frame.
What is Projects?
200
The sum of the lead times that sequential phases of a process require, from ordering of parts or raw materials to completion of final assembly.
What is Cumulative Lead Time?
200
Ratio of average cost of goods sold to average inventory investment.
What is Inventory Turnover?
200
A system of replacing materials or parts based on demand.
What is Pull System?
200
Two or more business organizations that have complementary products or services join so that each may realize a strategic benefit.
What is Strategic Partnering?
200
A technique for evaluating how a project will be done, and what activities will need to be done before others, and for coordinating large projects.
What is Program Evaluation and Review Technique (PERT)?
300
Expanded approach to production resource planning, involving other areas of a firm in the planning process and enabling capacity requirements planning.
What is Manufacturing Resources Planning (MRP II)?
300
Bar code printed on a label that has information about the item to which it is attached.
What is Universal Product Code? (UPC)
300
Safeguards built into a process to reduce the possibility of errors.
What is Poka-yoka?
300
Inventory oscillations become progressively larger looking backward through the supply chain.
What is Bullwhip Effect?
300
The longest path for a project, that determines the expected project duration.
What is Critical Path?
400
Department or work center reports that compare known and expected future capacity requirements with projected capacity availability.
What is Load Reports?
400
Time interval between ordering and receiving the order.
What is Lead Time?
400
Maintaining equipment in good operating condition and replacing parts that have a tendency to fail before they actually do fail.
What is Preventive Maintenance?
400
A technology that uses radio waves to identify objects, such as goods in supply chains.
What is Radio Frequency Identification? (RFID)
400
Allowable slippage for an activity, because it is not necessary to complete it until other activities are completed.
What is Slack?
500
Integration of financial, manufacturing, and human resources on a single computer system.
What is Enterprise Resource Planning? (ERP)
500
Extra inventory carried to reduce the probability of being out of stock due to demand.
What is Safety Stock?
500
A flexible system that uses minimal resources and produces high-quality goods or services.
What is Lean Operations?
500
Reducing one or more steps in a supply chain by cutting out one or more intermediaries.
What is Disintermediation?
500
The length of time it will take to complete an activity under the worst conditions.