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area of management responsible for the activities necessary to produce goods and services
What is Operations Management?
Part of the production process that involves sourcing and goal setting.
What is planning?
manufacturing of goods in large quantities using standard techniques
What is Mass Production?
name, term, or design that sets a product or business apart from its competition.
What is brand?
Large gathering of businesses for the purpose of displaying goods and services for sale.
What is a trade show?
any activity related to making a product.
Part of the production process that involves agents that buys supplies for businesses
What is purchasing?
What is just-in-time inventory?
Difference between the perpetual inventory and the physical inventory.
What is Inventory Shrinkage?
Working model of a new product for testing purposes.
What is prototype?
process of changing and improving resources to create goods or services
What is Conversion?
Part of the production process that involves managing the deliveries, employees, and business operations to get everything done on time
What is Scheduling?
inventory-control system showing the quantity of inventory on hand at all times.
What is Perpetual?
Product that is different in some way from existing products.
What is a new product?
Introducing a new product to a small portion of the target market to learn how it will sell.
What is test marketing?
changing the form of raw materials for another use.
What is Materials Processing?
Part of the production process that involves ordering goods, receiving stock on arrival, and paying vendors.
What is Inventory Control?
process of deciding which products will be most strategic for an organization to produce
What is product planning?
Converting resources to a product that fits the specifications of a customer.
what is Custom Manufacturing?
Raw materials needed to produce a finished product.
What is direct materials inventory?
taking a physical count of merchandise at regular periods, such as weekly, monthly, or yearly.
What is Periodic inventory-control?
What is Quality Control?
used to test a new service
What is trial run?
Finding suppliers of materials needed for the production of a product.
What is sourcing?
Specialization of individuals who perform specific tasks.