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16 Cards in this Set

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Aggregate planning
Involves making decisions about how the firm's capacity will be used to respond to forecasted sales. Requires the production function to be considered as a whole.
Computer-aided design (CAD)
A designer conceives and designs parts to meet predetermined specifications using specialized computer systems.
Computer-aided manufacturing (CAM)
A finished designed is translated into a set of programmed instructions that are sent electronically to production processing machines, instructing them to perform specific steps in a given order.
Computer-integrated manufacturing (CIM)
Develops production systems to help workers design products, control machines, handle materials, and direct entire manufacturing processes in a systematic manner.
Concurrent Control
Control that monitors and adjusts ongoing activities and processes. Also called in-progress control.
Controlling
Evaluating performance according to the plans that have been established to ensure that the goals set forth are realized, even if modifications need to be made.
Critical path method (CPM)
The sequence of events that are most critical as to timing--the longest path of activities in a system.
Economic order quantity (EOQ)
Equation used to determine how much should be ordered to meet estimated demand at the lowest cost.
Feedback control
Control that involves checking a completed activity and learning from the mistakes. Also known as a postcontrol.
Feedforward (precontrol) control
Control that actively anticipates and prevents problems.
Master production schedule (MPS)
Sets detailed schedule for individual end products, facilities, and personnel.
Program evaluation and review technique (PERT)
A method for project planning by analyzing the time required for each step. Developed by the U.S. Navy to plan and control the Polaris missile project.
Quality circles
Small groups of employees meeting on a regular basis within an organization to discuss and develop management issues and procedures.
Quality control
A series of planned measurements designed to verify compliance with all specified quality standards.
Standard
An expected level of performance. A standard must be very specific and measurable.
Total quality management (TQM)
A management theory whose underlying principle is that all activities and operations of any organization should be focused upon discovering and meeting the needs of the customers. Set forth by W. Edwards Deming.