business 100 chapter 8 part 2

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business 100 chapter 8 part 2
2012-03-21 02:01:28
business 100 chapter part

business 100 chapter 8 part 2
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  1. capacity
    the amount of products or services that an organization can produce in a given time
  2. labor-intensive technology
    a process in which people must do most of the work
  3. capital-insentive technology
    a process in which machines and equiptment do most of the work
  4. plant layout
    the arrangement of machinary, equiptment, and personel within a production facility
  5. planning horizon
    the period during which an operational plan will be in effect
  6. the objective of operation planning (the 4 steps)
    selecting a planning horizon, estemating market demand, comparing market demand with capacity, adjusting products or services to meet demand
  7. purchasing
    the activites involved in obtaining required materials, supplies, components, and parts from other firms
  8. inventory control
    the process of managing inventories in such a way as to minimize inventory costs, including both holding costs and potential stock-out costs
  9. material requirements planning
    a computerized system that integrates production planning and inventory control
  10. Just-in time inventory system
    a system designed to ensure that materials or supplies arrive at a facility just when they are needed so that storage and holding costs are minimized
  11. scheduling
    the process of ensuring that materials and other resources are at the right place at the right time
  12. Malcolm Baldridge National Quality Award
    an award given by by the president of the united states to organizations that apply and are judged to be outstanding in specific managerial tasks that lead to improved quality for both products and services
  13. quality control
    the process of ensuring that goods and services are produced in accoradance with design specifications