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Just In Time
A business philosopy that strives to reduce in-process inventory and improve efficiency. |
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Enterprise Resource Planning
Software technology that facilitates the flow of business between all aspects of a company. |
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| Japanese word that means Change for the Better |
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| A diagram that graphically demonstrates the workflow of a business application for better understanding. |
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| Total Quality Management, a management philosophy that emphasizes improving quality of products and services, continually. |
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| Disciplined business process that seeks to improve quality by removing the causes of defects |
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| The standard of Six Sigma, 3.4 defects per million is the minimum tolerance level allowed in production of a product |
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| A product used as input to produce goods and services to sell for profit in a business environment |
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| Strategic Cost Management |
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| Decisions made based on aligning a firms costs with its management strategy |
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| The extent to which time and money is used for its intended purpose |
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| Management that concerns itself with "overseeing, designing and re-designing business operations" in producing goods or services |
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| Request For Proposal, used at the beginning of a procurement process where invitations are sent to potential suppliers and sub-contractors. |
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| All of the people, organizations, software and systems involved in bringing a product or service to the end customer |
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| Radio-frequency identification. Bar Coding, it is the technology by which radio waves are used to transfer data between a reader and a tagged item. |
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| The process of developing and implementing technical standards |
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| Information System Integration |
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| Enhancing suply chain planning and communication by integrating the information systems used between chain partners |
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| Production philosophy that considers the spending of resources for anything other than end value for the customer to be wasteful |
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| Hiring service support from outside the organization |
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| A product that will perform its functions reliably |
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