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P301
Supplement 7
12
Management
Undergraduate 4
10/08/2013
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Term
Capacity
 Definition
The "throughput", or number of units a facility can hold, receive, store, or produce in a period of time.
Term
Design capacity
 Definition
The theoretical maximum output of a system in a given period under ideal conditions.
Term
Effective capacity
 Definition
The capacity a firm can expect to achieve, given its product mix, methods of scheduling, maintenance, and standards of quality.
Term
Utilization
 Definition
Actual output as a percent of design capacity.
Term
Efficiency
 Definition
Actual output as a percent of effective capacity.
Term
Capacity analysis
 Definition
A means of determining throughput capacity of workstations or an entire production line.
Term
Bottleneck
 Definition
The limiting factor or constraint in a system.
Term
Bottleneck time
 Definition
The time of the longest (slowest) process; the bottleneck.
Term
Throughput time
 Definition
The time it takes for a product to go through the productions process with no waiting.
Term
Theory of constraints (TOC)
 Definition
A body of knowledge that deals with anything that limits an organization's ability to achieve its goals.
Term
Break-even analysis
 Definition
A means of finding the point, in dollars and units, at which costs equal revenues.
Term
Net present value
 Definition
A means of determining the discounted value of a series of future cash receipts.
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