You should visualize inventory as stacks of money sitting on forklifts, on shelves, and
in trucks and planes while in transit.
According to the economic aspect of the triple bottom line concept, the firm is required
to compensate shareholders by paying dividends and growing the value of their
common stock faster than their competitors.
One of the implementation tools from the operations consulting tool kit is the issue tree.
The Baldrige National Quality Award was started under the direction of the National
Institute of Standards and Technology.
Fixed-order-quantity inventory systems determine the reorder point, R, and the order
quantity, Q, values.
The basic notion of economies of scale is that as a plant gets larger and volume
increases, the average cost per unit of output drops.