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| Typically the purchase of a company or a significant business asset. |
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| The assignment of costs incurred in one area or function of a plant or company to another because of the service to the charged unit |
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| The amount of actual demand, orders or contracts that are in the pipeline for future sales. |
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| Benchmarking is defined as a process of continuous comparison of a company’s performance on predetermined measure against that of the best in an industry or a class, considered the standard or the reference. |
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| Denotes that practice considered the most effective for an industry. Best practices continually evolve. |
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| Inventory between processing or activity units |
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| For a process or activity, the maximum THROUGHPUT that can be sustained |
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| A term in Total Quality Management that implies the degree to which customers are pleased with a product or service. |
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| Denotes that portion of the workforce directly assigned to manufacture the product. |
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| Measure of total processing cost of an activity or process |
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| The average (actual) time for a unit of production to flow through a process unit or activity including input and output inventories. |
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| Usually the prediction of customer sales and the subsequent manufacturing schedule |
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| Denotes the production workers that support the direct labor function. Indirect labor functions can include maintenance, material handling, setup, product testing, and inspection. |
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| International Standards Organization quality standard. |
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| Time that is required to fill an order or meet customer demand |
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| The process of managing materials for operations to meet certain objectives such as delivery speed, low inventories, and high accuracy. |
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| Any activity that transforms and adds value to an input stream |
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Definition
| Work beyond the federally mandated work period usually a day or a week |
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Definition
| Measure of labor efficiency. |
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Definition
| Ordering of production to meet forecasted or actual customer demand |
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