Business (Pride) 12th Edition – Chapter 8 – Flashcards
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operations management
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all the activities required to produce goods and services
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reshoring
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a situation in which U.S. manufacturers bring manufacturing jobs back to the United States
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mass production
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a manufacturing process that lowers the cost required to produce a large number of identical or similar products over a long period of time
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analytical process
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a process in operations management in which raw materials are broken into different component parts
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synthetic process
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a process in operations management in which raw materials or components are combined to create a finished product
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utility
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the ability of a good or service to satisfy a human need
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form utility
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utility created by people converting raw materials, finances, and information into finished products
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service economy
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an economy in which more effort is devoted to the production of services than to the production of goods
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research and development (R&D)
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a set of activities intended to identify new ideas that have the potential to result in new goods and services
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design planning
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the development of a plan for converting an idea into an actual product or service
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product line
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a group of similar products that differ only in relatively minor characteristics
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product design
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the process of creating a set of specifications from which a product can be produced
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capacity
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the amount of products or services that an organization can produce in a given time
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labor-intensive technology
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a process in which people must do most of the work
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capital-intensive technology
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a process in which machines and equipment do most of the work
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plant layout
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the arrangement of machinery, equipment, and personnel within a production facility
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planning horizon
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the period during which an operational plan will be in effect
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purchasing
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all the activities involved in obtaining required materials, supplies, components, and parts from other firms
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inventory control
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the process of managing inventories in such a way as to minimize inventory costs, including both holding costs and potential stock-out costs
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materials requirements planning (MRP)
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a computerized system that integrates production planning and inventory control
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just-in-time inventory system
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a system designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage and holding costs are minimized
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scheduling
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the process of ensuring that materials and other resources are at the right place at the right time
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Gantt chart
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a graphic scheduling device that displays the tasks to be performed on the vertical axis and the time required for each task on the horizontal axis
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PERT (Program Evaluation and Review Technique)
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a scheduling technique that identifies the major activities necessary to complete a project and sequences them based on the time required to perform each one
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Malcolm Baldridge National Quality Award
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an award given by the President of the United States to organizations judged to be outstanding in specific managerial tasks that lead to improved quality for both products and services
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quality control
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the process of ensuring that goods and services are produced in accordance with design specifications
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quality circle
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a team of employees who meet on company time to solve problems of product quality
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inspection
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the examination of the quality of work-in-process
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Six Sigma
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a disciplined approach that relies on statistical data and improved methods to eliminate defects for a firm's products and services
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International Organization for Standardization (ISO)
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a network of national standards institutes and similar organizations from over 160 different countries that is charged with developing standards for quality products and services that are traded throughout the globe
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lean manufacturing
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a concept built on the idea of eliminating waste from all of the activities required to produce a product or service
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automation
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the total or near-total use of machines to do work
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robotics
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the use of programmable machines to perform a variety of tasks by manipulating materials and tools
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computer-aided design (CAD)
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the use of computers to aid in the development of products
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computer-aided manufacturing (CAM)
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the use of computers to plan and control manufacturing processes
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computer-integrated manufacturing (CIM)
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a computer system that not only helps to design products but also controls the machinery needed to produce the finished product
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continuous process
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a manufacturing process in which a firm produces the same product(s) over a long period of time
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flexible manufacturing system (FMS)
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a single production system that combines electronic machines and computer-integrated manufacturing
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intermittent process
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a manufacturing process in which a firm's manufacturing machines and equipment are changed to produce different products
