Term
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Definition
| the creation of goods and services using factors of production: land, labor, capital, entrepreneurship, and knowledge |
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Definition
| cescribes all the activities managers do to help companies create goods |
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Definition
| the management of systems or processes that convert or transform reources (including human) into goods and services |
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Term
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Definition
conversion from inputs to outputs (technical core)
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Term
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Definition
| the difference between the cost of inputs and the value of price of outputs |
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Definition
| predictions made on the basis of time-series information |
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Definition
| determines the future IT infrastructure requirement for new equipment and additional network capacity |
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Definition
| stand alone businesses in a conglomerate |
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Definition
| planning focused on long range things such as plant size, location and types of processes used |
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Term
| Materials requirement planning systems |
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Definition
| use sale forecasts to make sure that needed parts and materials are available at the right time and place in specific company |
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Term
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Definition
| focuses on producing goods and services as efficiently as possible within the strategic plan |
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Term
| global ubvebtory management systems |
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Definition
| provide the ability to locate, track, and predict the movement of every component or material anywhere upstream or downstream in the production process |
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Term
| operational planning and control |
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Definition
| deals with day to day procedures for performing work including inventory, scheduling and process management |
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Term
| inventory management and control systems |
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Definition
| provide control and visibility to the status of individual items maintained in the inventory |
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Term
| transportation planing systems |
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Definition
| track and analyze the movement of materials and products |
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Term
| distribution management systems |
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Definition
| coordinate the process of transporting materials from manufcturer to distribution centers to the final customers |
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Term
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Definition
| consists of all parties involved in the procurement of a product or raw material |
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Term
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Definition
| when distorted product demand information is passed down the supply chain and memebers stockpile inventory causing excessive inventory and costs |
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Term
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Definition
| generate demand forecasts using statistical models |
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Term
| supply chain planning systems |
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Definition
| use adavanced mathematical algorithms to improve the flow and efficiency of the supply chain |
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