refers to the ways of getting the goods or services to the customer
What is Distribution
100
involves finding a secure place to hold stock until it is required
What is Storage
100
is defined as the use of warehouses for the storage, protection and, later, distribution of stock
What is Warehousing
100
is the technology that is the most advanced or innovative at any point in time
What is Leading Edge Technology
100
is technology that has been developed and widely used and is simply accepted without question
What is Established Technology
200
refers to the amount of raw materials, work-in-progress and finished goods that a business has on hand at any particular point in time
What is Inventory or Stock
200
a method of pricing inventory assumes that the last goods purchased are also the first goods sold and therefore the cost of each unit sold is the last cost recorded
What is LIFO (last-in-first-out)
200
a method of pricing inventory assumes that the first goods purchased are also the first goods sold and therefore the cost of each unit sold is the first recorded cost
What is FIFO (first-in-first-out)
200
is an inventory management approach which ensure that the exact amount of material inputs will arrive only as they are needed in the operation process
What is Just-in-time (JIT)
200
refers to those processes that a business undertakes to ensure consistency, reliability, safety and fitness of purpose of product
What is Quality Management
300
involves the use of inspection at various points in the production process to check for problems and defects
What is Quality Control (QC)
300
involves the used of a system to ensure that set standards are achieved in production
What is Quality Assurance (QA)
300
is an ongoing commitment to improving a business;s goods or services
What is Continuous improvement
300
is a quality management approach that seeks to identify and remove the causes of problems in the operations processes, achieving virtually defect-free production
What is Six Sigma
300
a concept that focuses on managing the total business to deliver quality to customers
What is Total Quality Management (TQM)
400
Redundancy is defined as a loss of work arising from job skills that are no longer required or relevant to the workplace
What is Redundancy
400
is a term that describes a psychological resistance to change
What is Inertia
400
somebody who initiates change or facilitates the change process
What is a Change Agent
400
is Japanese for "improvement". It emphasises continuous improvement in all areas of a business, from the way the CEO manages to the way assembly line worked perform their jobs