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unit 5.0
| Question | Answer |
|---|---|
| Purchasing | Buying things needed to do your job |
| Inventory Control | keeping track of what you have and what you need |
| Quality Control | making sure the quality is up to the standards of your comapny |
| Logistics | is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers |
| Operations | what the business dose in order to make products |
| Electronic Data Interchange | is the structured transmission of data between organizations by electronic means |
| Flexible Manufacturing System | s a manufacturing system in which there is some amount of flexibility that allows the system to react in the case of an emergency |
| Computer-Aided Manufacturing | computers are used to do certain tasks |
| Material Requirements Planning | is a production planning and inventory control system used to manage manufacturing processes |
| Enterprise Resource Planning | systems integrate internal and external management information across an entire organization |
| Product planning | is the ongoing process of identifying and articulating market requirements that define a product's feature set |
| Procurement | is the acquisition of goods or services |
| Technical Data Management Systems | is essentially a Document management system (DMS) pertaining to the management of technical and engineering drawings and documents |
| Purchase Order | Is issued form a seller to the buyer Quantity, price, and delivery date Document can be used by either party to cover them in case of dispute |
| Sealed Bid | Type of bidding in which each bidder is given just one chance to bid |
| Dutch auctions | A public offering auction structure in which the price of the offering is set after taking in all bids and determining the highest price at which the total offering can be sold. |
| Reverse auctions | sellers bid for the prices at which they are willing to sell their goods and services. |
| Vendor | person who supplies the product |
| Commitment | a promise made to someone else |
| Over commitment | To bind or obligate oneself beyond the capacity for realization. |
| Compartmentalization | s the act of splitting an idea or concept up into (sometimes more or less arbitrary) parts |
| Employee benefits | things that employyes get if they do good work |
| Employee relations | how a company acts towards his coworkers and the company |
| Compensation | paying someone back for a wrong that you did to them |
| Staffing | hiring people |
Created by:
bcreede
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