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Definition
| The worth of an item, good or service |
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Term
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Definition
| A production environment where products can be and usually are finished before receipt of a customer order |
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Definition
| Actual customer description in words for the functions and features customers desire for goods and services |
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Definition
| The set of functional plans (production plan, sales plan, marketing plan) synchronizing activities across function that specify production levels, capacity levels, staffing levels, funding leves, and so on, for achieving the intermediate goals and objectives to support the organization strategic plan. |
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Definition
| The creation of a high-volume product with large variety so that a customer may specify an exact model out of a large volume of possible end items, while manufacturing cost is low due to large volume. |
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Definition
| Physical Arrangement of resources of centers of economic activity (machines, groups of people, workstations, storage areas, aisles) within a facility |
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Definition
| Products whose customer specifications require unique engineering design, significant customization, or new purchased materials. |
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Term
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Definition
| A production environment where a good or service can be assembled after receipt of a customers order |
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Term
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Definition
| Sales minus costs of goods sold |
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Term
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Definition
| A production environment where a good or service can be made after receipt of a customer's order. |
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Term
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Definition
| The global network used to deliver products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash |
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Definition
| Framework for organizing, defining, and standardizing the business processes necessary to effectively plan and control an organization so the organization can use its internal knowledge to seek external advantage. |
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Term
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Definition
| The raw material, part, or subassembly that goes into a higher level assembly, compound, or other item |
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Term
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Definition
| The function of determining what material is needed and when, and maintaining proper due dates for required materials |
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Term
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Definition
| A technique used in MRP where a planned order receipt in one time period will require the release of that order in an earlier time period based on the lead time for the item |
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Term
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Definition
| A set of techniques that uses BOM data, inventory data, and the MPS to calculate requirements for materials |
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Term
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Definition
| The item produced from one or more components |
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Term
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Definition
| An artificial grouping of items or events in BOM format used to facilitate master scheduling and material planning |
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Term
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Definition
| Open order that has an assigned due date |
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Term
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Definition
| Using the BOM to calculate component quantities |
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Term
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Definition
| The total of independent and dependent demand for a component before the netting of on-hand inventory and scheduled receipts |
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Term
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Definition
| In MRP and MPS, the capability to identify for a given item the sources of its gross requirements or allocations |
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Term
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Definition
| In MRP, these are derived as a result of applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock |
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Term
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Definition
| The quantity planned to received at a future date as a result of a planned order release. |
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