Within a sustainability framework, the economic dimension of the triple bottom line
concept goes beyond just profit for the firm but also provides lasting economic benefit
to society.
Variation that is inherent in a production process itself is called common variation.
One of the basic purposes of inventory analysis in manufacturing and stock keeping
services is to determine how large the orders to vendors should be.
AQL stands for accepting questionable lots in production quality management.
The total cost of ownership (TCO) can be categorized into three areas: acquisition
costs, ownership costs, and post-ownership costs.
An assembly-line layout is similar to the basic production layout format of flow-shop
layout.
Diagnosis is the medical expert’s explanation of the cause of symptoms.
Variation that is inherent in a production process itself is called assignable variation.
Capturing information directly from the source through such systems as point-of-sale,
radio-frequency identification tags, bar-code scanners, and automatic recognition has
had little impact on operations and supply chain management.
Qualitative forecasting techniques generally take advantage of the knowledge of experts
and therefore do not require much judgment.
You time someone completing a single task the first time at 100 minutes, and the fourth
time they do the task it takes 81 minutes. You should use an 81 percent learning curve
to estimate the length of time this worker will take to complete this task in the future.
Safety stock is not necessary in any fixed-time-period system.
The critical path in a CPM analysis is always the shortest path through the network.