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Operations
- Activities: actions or steps taken by member of an organization to accomplish its mission.
- Assignable Causes: indeed external to the system while others are internal to the system.
- Break Even: # of units that must be sold in order to produce a profit of zero
- Capacity: measure of how much can be produced or serviced in a specified period of time.
- Constraint: the state of being checked, restricted, or compelled to avoid or perform some action
- Controlling: Able to control or determine policy; "a controlling interest in the firm."
- Cost of Capital: The required return for a capital budgeting project
- Crashing: of a computer system or program: to suffer a sudden major failure usually with attendant loss of data
- Inventory Costs: setup, holding and carrying fees associated with making and storing the product until it is sold.
- Job design: method to determine the work requirements of a position
- Just In Time: delivery of materials and supplies to produce a product immediately before they are needed.
- Lead time: period of time required to prepare for a certain stage of a product
- Learning curve: A graph of progress in the mastery of a skill against the time required for such mastery.
- Modular Design: To organize a complex system of distinct components that can be developed independently and then plugged together.
- Operations: A process or series of acts involved in a particular form of work
- Ordering Costs: Costs that occur when an order is placed regardless of the size of the order.
- Process Technology: is the semiconductor manufacturing flow, which creates or fabricates an integrated circuit.
- Procurement: The combined functions of purchasing, inventory control, traffic and transportation, receiving, inspection, store keeping, and salvage and disposal operations.
- Production Line: the chain of consecutive production phases
- Productivity: The amount of output produced per unit of an input.
- Purchasing: to obtain by paying money or its equivalent
- Quality: an aggregate of activities (as design analysis and inspection for defects) designed to ensure adequate quality especially in manufactured products
- Quantity Discounts: a reduction in cost received by purchaser for ordering a specified amount (number) of product/supplies
- Re-engineering: is the process used to dramatically improve the quality of and speed of work and to reduce its cost by fundamentally changing the process by which by which work gets done
- Resource Leveling: Scheduling so resources over time are constant
- Safety stock: Extra inventory kept on-hand in case something unpredictable happens
- Slack: Time an activity can be delayed without affecting project completion.
- Standardization: Specifying product characteristics: dimension, composition, quality
- Technology: Set of processes, tools, methods, procedures used in production
