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BUSN-1010 Conroy 9

Chapter 9

QuestionAnswer
Facility Location Involves the process of selecting a location for company operations.
Form Utility The value that people add in converting resources--natural resources, capital, human resources, entrepreneurship, and knowledge--into finished products.
Just-in-Time Inventory Control A concept in which only minimal supplies are kept on the organization's premises and others are delivered by the suppliers on an as-needed basis.
Lean Manufacturing The production of products by eliminating unnecessary steps and using the fewest resources, as well as continually striving for improvement.
Mass Production The production of uniform goods in great quantities.
Operations Management The process of transforming materials, labor, and other resources into goods and/or services.
Purchasing The activity of finding the best resources for the best price from the best suppliers in order to produce the best goods and services.
Quality The total ability of a product or service to meet customer needs.
Created by: chuck2983
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