Vocab 3 Flashcards Preview

APICS Basics Sec 1 Intro Supply Chain Management > Vocab 3 > Flashcards

Flashcards in Vocab 3 Deck (50)
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1
Q

level production method

A

Make accurate forecast of average demand for a period and then set a level production rate to match the average.

2
Q

level schedule

A

A production schedule or MPS that generates material and labor requirements that are as evenly spread over time as possible. Finished goods inventories buffer the production system against season demand

3
Q

liabilities

A

Accounting/Financial terms representing debts or obligations owed by a company to creditors

4
Q

line haul costs

A

Within physical distribution, cost elements that vary by distance traveled and not by weight carried

5
Q

load

A

The amount of work scheduled for a facility, work center, or operation for a specific span of time.

Usually expressed in terms of standard hours of work or, when items consume similar resources at the same rate, units of production

6
Q

load leveling

A

Spreading orders otu in time or rescheduling operations so that amount of work to be done in sequential time periods is distributed evenly and is achievable

7
Q

lot

A

A quantity produced together and sharing the same production costs and specifications

8
Q

lot control

A

A set of procedures used to maintain lot integrity from raw materials, from the supplier through manufacturing to consumers

9
Q

lot-for-lot

A

A lot-sizing technique that generates planned orders in quantities equal to the net requirements in each period

10
Q

lot size

A

Standard quantity of an item that is ordered or issued

11
Q

lot-size inventory

A

Inventories resulting from economical order sizes instead of what is actually needed to meet current demand

12
Q

make-to-order (MTO)

A

Production doesn’t begin on a good or service until after the receipt of a customer’s order

13
Q

make-to-stock (MTS)

A

A production environment where products can be and usually are finished before receipt of a customer order

14
Q

manufacturing lead time

A

Total time required to manufacture an item. Not including lower-level purchasing lead times.

15
Q

manufacturing order

A

A document, group of documents, or schedule conveying authority for the manufacture of specified parts or products in specified quantities

16
Q

manufacturing philosophy

A

Set of guiding principles, driving forces, ingrained attitudes that help communicate goals/plans/policies to all employees

17
Q

manufacturing resource planning (MRP II)

A

Method for the effective planning of all resources of a manufacturing company. Includes business planning, production planning, master production scheduling, material requirements planning, capacity requirements planning, and execution support systems for capacity & material.

18
Q

mass customization

A

The creation of a high-volume product with large variety so that a customer may specify an exact model out of a large volume of possible end items, while manufacturing cost is low due to large volume

19
Q

master planning

A

A group of business processes that includes the following activities: Demand management, production and resource planning, and master scheduling

20
Q

master production schedule (MPS)

A

What the company plans to produce expressed in specific configurations, quantities, and dates

21
Q

master schedule

A

A format that includes time periods, the forecast, customer orders, projected available balance (PAB), ATP, and the MPS

22
Q

material requirement planning (MRP)

A

Set of techniques using BOM, inventory data, and master production schedule to calculate requirements for materials

23
Q

material management

A

Grouping of management functions supporting complete cycle of material flow (from purchase of materials to storage, usage, and shipping/distribution)

24
Q

mean absolute deviation (MAD)

A

The average of the absolute values of the deviations of observed values from some expected value

25
Q

milk run

A

A regular route for pickup of mixed loads from several suppliers

26
Q

mixed-model production

A

making several different parts/products in varying lot sizes so that the factory produces close to the same product mix that will be sold that day

27
Q

modularization

A

In product development, use of standardized parts for flexibility and variety. Use same items to build variety of finished goods

28
Q

multilevel bill of material

A

A display of all of the components directly or indirectly used in a parent, together with the quantity required of each component

29
Q

mura

A

A Japanese word meaning unevenness or variability

30
Q

muri

A

Japanese word meaning strain or overburden

31
Q

nesting

A

The act of combining several small processes to form one larger process

32
Q

net requirements

A

In MRP, the ____ for a part or an assembly are derived as a result of applying gross requirements and allocations against inventory on hand, scheduled receipts, and safety stock

33
Q

one-card kanban sytem

A

Kanban system where only a move card is employed. Works centers typically adjacent so no production card required. Empty square card signals supplying work center to produce a standard container of the item

34
Q

open order

A

A released manufacturing order or purchase order. An unfilled customer order.

35
Q

operating expense

A

All the money spent in generating goal units

36
Q

operations management

A

1) planning, scheduling, and control of activities that transform inputs into outputs
2) field of study focusing on effective planning, scheduling, use and control of an organization

37
Q

operator flexibility

A

Machine operators having the flexibility to solve problems and to do other tasks beyond their immediate responsibilities

38
Q

ordering cost

A

Used in calculating order quantities, the costs that increase the number of orders placed increases

39
Q

order picking

A

The basic plan marketing expects to use to achieve its business and marketing objectives in a particular market

40
Q

overlapped schedule

A

When order partially complete at one work station is started at next station before first station is entirely done with it

41
Q

owner’s equity

A

An accounting/financial term representing the residual claim by the company’s owners or shareholders, or both, to the company’s assets less its liabilities

42
Q

pacemaker

A

In lean the philosophy is to produce at the market rate of consumption. Because lines cannot be perfectly balanced, the ____ is the resource requiring the longest time to produce among the set of activities in a line or cell. This operation determines the flow through the line or cell

43
Q

package to order

A

Production environment where good or service is packaged after receipt of customer order. Items are common across many customers and packaging determines the end product

44
Q

pallet positions

A

Calculation determining space needed for number of pallet for inventory storage or transportation. Based on standard pallet size

45
Q

Pareto’s law

A

States a small percentage of a group accounts for the largest fraction of its impact or value. In ABC classification then 20% of inventory items may constitute 80% of inventory value

46
Q

participative design/engineering

A

Simultaneous participation of all functional areas of a company in the product design activity. Usually suppliers & customers also included

47
Q

pegging

A

In MRP and MPS, the capability to identify for a given item the sources of its gross requirements and/or allocations. ____ can be thought of as active where-used information

48
Q

periodic replenishment

A

Method of aggregating requirements to place deliveries of varying quantities at evenly spaced time intervals

49
Q

period order quantity

A

A lot-sizing technique under which the lot size is equal to the net requirements for a given number of periods

50
Q

perpetual inventory record

A

A computer record or manual document on which each inventory transaction is posted so that a current records of the inventory is maintained.