Term
| Operations and Supply Management (OSM) |
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Definition
| design, operation and improvement of the systems that create and deliver the firm's primary products and services |
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Definition
| An intangible process that cannot be weighed or measured |
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Definition
| A tangible output of a process that has physical dimensions |
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Definition
| Food products, chemicals, book publishing |
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Definition
| appliances, data storage systems |
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Definition
| hotels, airlines, internet service providers |
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Definition
| teaching, medical assistance, financial consulting |
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Definition
| a company building service activities into its product offerings for its current users |
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Definition
| doing things at the lowest possible cost |
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Definition
| doing the right things to create the most value for the company |
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Definition
| social, economic, environmental |
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| obligation to compensate shareholders who provide capital |
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| fair/beneficial business practice for labor and community/region |
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| environmental stewardship |
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Definition
| protect environment, cause no harm |
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Term
Competitive Dimension
"Cost or price" |
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Definition
| make the product or deliver the service cheap |
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Term
competitive dimension
quality |
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Definition
| make a GREAT product or deliver a GREAT service |
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Term
competitive dimension
Delivery speed |
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Definition
| make the product or deliver the service quickly |
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Term
Competitive Dimension
delivery reliability |
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Definition
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competitive dimension
coping with changes in demand |
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Definition
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Term
competitive dimension
flexibility and new-product introduction speed |
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Definition
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competitive dimension
other product-specific criteria |
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Definition
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Term
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Definition
| company seeks to match benefits of a successful position while maintaining it existing position |
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Term
| Product productivity ratio |
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Definition
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Term
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Definition
measure of output to a single unit
output/labor
output/capital
output/materials |
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Definition
measure output to a group of inputs
output/labor+capital+materials |
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Definition
measure of all outputs to all inputs
goods and services produced/all resources used |
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Definition
| the ability to hold, receive, store, or accomodate |
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Definition
| level of capacity for which the process is designed (minimizes average unit cost) |
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Term
| capacity utilization rate |
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Definition
| capacity used/best operating level |
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Definition
| as plant gets larger, average unit cost gets smaller |
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Definition
| plant becomes to large to maintain (inefficient) |
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Definition
| facility that works best when focused on limited set of production objectives. produce specific or related groups of products |
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Definition
| separate suborganizations, carries the focused idea to operation |
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Definition
| ability to rapidly increase or decrease production levels in order to meet demand |
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Definition
| easy to tear down and set up |
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Definition
| equipment is easy to set up |
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Definition
| multiple products designed/produced at one facility at a lower cost than it would be to produce them separately |
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Definition
| multiple skills and abilities that enable them to easily switch tasks |
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Term
| planning service capacity |
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Definition
| time, location, volatility of demand |
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Definition
| an attempt to create higher customer service with minimum levels of inventory investment |
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Term
| total average cost of inventory |
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Definition
| sum of the value (at cost) of raw mat, WIP and finished goods |
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Term
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Definition
| COGS/Average Inventory Value |
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Term
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Definition
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Term
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Definition
there is a long-term relationship between the inventory, throughput and flow time:
Inventory=Throughput rate x flow time |
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Term
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Definition
| the long term average rate that items are flowing through the process |
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Term
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Definition
| time that it takes a unit to flow through the process from beginning to end |
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Definition
| product remains in a fixed location |
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Definition
| similar equipment or functions are grouped together |
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Definition
| layout is dedicated area where products that are SIMILAR IN PROCESSING requirements are produced |
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Definition
| work processes are arranged according to the progressive steps by which the product is made |
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Definition
| production flows in predetermined steps, but flow is continuous (liquids) |
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Definition
| longest required task time forms shortest workstation cycle |
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Definition
| process on two workstations |
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Definition
| have adjacent workstation do part of the work |
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Term
| use parallel workstations |
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Definition
| two workstations that operate in parallel |
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Definition
| face-to-face contact with the customer |
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Definition
| interact with the customer using non-human resources |
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Definition
| acting on entity's own controlled resources |
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Definition
managing the entire organization so that it excels on all dimensions of product and services that are important to the customers
2 goals:
careful design and consistent production |
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Definition
| primary product or service characteristics |
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Definition
| added touches, secondary characteristics |
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Definition
| consistency of performance over time, probability of failing, useful life |
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Definition
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Definition
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| past performance and reputation |
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Definition
| the degree to which the product or service design specifications are met |
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Definition
| person who does the work takes responsibility for making sure that his or her output meets specifications |
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| cost of inspection, testing and other tasks to ensure that the product or process is acceptable |
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Definition
| the sum of all of the costs to prevent defects |
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| costs for defects incurred within the system: scrap, rework, repair |
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Definition
| costs for defects that pass through the system: customer warranty replacements, loss of customers or goodwill, handling complaints, and product repair |
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Term
| Six Sigma Methodology DMAIC |
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Definition
| Define, Measure, Analyze, Improve, Control |
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Definition
| monitoring quality while the product or service is being produced |
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Definition
| planning, directing, and controlling resources (people, equipment, material) to meet the technical, cost, and time constraints of the project |
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Definition
| a series of related jobs usually direct toward some major output and requiring a significant period of time to perform |
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Definition
| a self-contained team works full time on the project |
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Definition
| departmentally-based project |
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Definition
| blends elements of both functional and pure projects |
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Term
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Definition
defines hierarchy of project tasks, sub tasks, and work packages
work package -> subtask -> task -> Project -> Program |
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Definition
| written description of the objectives to be achieved |
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Term
| EVM (earned value management) |
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Definition
| technique for measuring project progress in an objective manner. Combines measures of scope, schedule, and cost in a project |
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Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
| budgeted cost of what should be done by now (X) |
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| Budgeted Cost of Work Performed (BCWP) |
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Definition
| Budgeted cost of what is actually done by now (X) |
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Definition
| Actual cost of what work performed up to this point |
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Definition
| BCWP-BCWS greater than 0 means ahead of schedule |
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Term
| schedule performance index |
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Definition
| BCWP/BCWS greater than , means ahead of schedule |
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Definition
BCWP-AC
greater than 0, under budget |
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Term
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Definition
BCWP/AC
>1, cost of completing the work is lower than planned |
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Term
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Definition
| sequence of events that form the longest chain in terms of time to complete |
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