Mgo

Front 1

andon

Back 1

Japanese term for a signaling system announcing problems encountered and assistance requested, often implemented as sets of lights over workstations.

Front 2

assignable variation

Back 2

Deviations with a specific cause or source.

Front 3

backorder

Back 3

To delay order fulfillment due to inadequate supply.

Front 4

bottleneck

Back 4

The most heavily utilized resource within a system.

Front 5

bricolage

Back 5

A creation from what happened to be available during its formation.

Front 6

business continuity plan

Back 6

Guidelines and arrangements for response to disruption of critical business functions, to restore and maintain operation.

Front 7

confirmation bias

Back 7

A tendency to favor information that supports a hypothesis and to suppress or neglect information that refutes it.

Front 8

consumer’s risk

Back 8

The likelihood of a type II error.

Front 9

crisis

Back 9

The critical time prior to an impending change of great significance.

Front 10

critical ratio

Back 10

Time remaining until due date divided by work remaining to be done.

Front 11

cycle stock

Back 11

Inventory held to gain economies of scale.

Front 12

defect

Back 12

A single identifiable deviation from acceptable conformance.

Front 13

dispatching

Back 13

Assigning work in real-time, often in the context of mobile resources.

Front 14

economies of scale

Back 14

Decreasing average unit cost by increasing volume.

Front 15

enterprise resource planning (ERP)

Back 15

A strategic information system that integrates all functional areas of an organization.

Front 16

finished goods

Back 16

Inventory awaiting sale to consumers.

Front 17

finite loading

Back 17

A scheduling approach that recognizes capacity constraints.

Front 18

fixed order interval policy

Back 18

An inventory system in which the amount of replenishment is determined by the rate of previous demand and its timing is predetermined at an economical interval.

Front 19

fixed order quantity policy

Back 19

An inventory system in which the amount of replenishment is predetermined at some economical value and its timing is then determined by the rate of previous demand.

Front 20

framing

Back 20

Adopting too narrow a view in the analysis of a problem.

Front 21

groupthink

Back 21

A tendency to neglect full critical evaluation of a decision in favor of minimizing conflict within a group of decision makers.

Front 22

incident command system

Back 22

A predetermined structure that organizes available parties into one temporary organization to resolve an incident.

Front 23

infinite loading

Back 23

A scheduling approach that ignores capacity constraints.

Front 24

just-in-time (JIT)

Back 24

An earlier and alternate term for lean operation, in which a system implicitly operates with minimum of inventory and waste.

Front 25

kaizen

Back 25

Japanese term for a focus on continuous improvement.

Front 26

lead time

Back 26

Delay between requesting a product and receiving it.

Front 27

lean

Back 27

Operating without waste.

Front 28

level demand strategy

Back 28

Aggregate planning approach that relies on influencing demand to match capacity.

Front 29

level production strategy

Back 29

Aggregate planning approach that relies on fixed capacity despite changing demand.

Front 30

lot-for-lot (LFL)

Back 30

An ordering policy in which orders are sized to match individual demands exactly, theoretically accumulating no inventory.

Front 31

makespan

Back 31

The length of time required to complete a finished schedule.

Front 32

master production schedule (MPS)

Back 32

A statement of independent demand for all inventory items in an MRP system.

Front 33

minimum constant production (MCP) rate

Back 33

The lowest speed of perfectly level production that will not produce any shortages within a demand forecast.

Front 34

muda

Back 34

Japanese term for waste, particularly anything a customer is not willing to pay for.

Front 35

newsvendor problem

Back 35

Choosing a quantity to meet a single period of uncertain demand, weighing the costs of ordering too much and too little.

Front 36

normalization

Back 36

A tendency to accept anomalies as normal events, particularly over time.

Front 37

optimization

Back 37

Identification of the best alternative.

Front 38

outcome bias

Back 38

A tendency to assume a process is acceptable if its output is acceptable.

Front 39

overbooking

Back 39

Commitment or sale of resource in excess of its actual availability.

Front 40

proaction

Back 40

Avoidance of preventable risk, the first and most basic stage of risk management.

Front 41

producer’s risk

Back 41

The likelihood of a type I error.

Front 42

raw materials

Back 42

Inventory brought in from outside the system.

Front 43

redundancy

Back 43

Duplication of an element within a system.

Front 44

reliability

Back 44

The probability that an element or a system will perform as specified.

Front 45

reorder point

Back 45

An inventory level that triggers replenishment of an item.

Front 46

resilience

Back 46

The ability of a system to adjust to or recover from a shock or sudden change.

Front 47

risk

Back 47

The possibility of loss or the source of such a possibility.

Front 48

safety stock

Back 48

Inventory held to protect against uncertain supply or demand.

Front 49

sawtooth diagram

Back 49

A graph of inventory levels over time.

Front 50

service level

Back 50

The probability that demand for an item will be met during the lead time on replenishment of that same item.

Front 51

situational awareness

Back 51

An individual or organization’s comprehension of the surrounding environment and its potential near-future states.

Front 52

staging

Back 52

Retrieving or positioning inventory or other resources before they are required.

Front 53

statistical process control (SPC)

Back 53

The monitoring of overall conformance through the ongoing evaluation of samples.

Front 54

stockpiling

Back 54

Producing or securing goods in advance of demand.

Front 55

Taguchi loss function

Back 55

A proposed model of the cost of nonconformance that penalizes even small degrees of deviation from a target specification.

Front 56

triage

Back 56

A priority rule creating sequences intended to yield the most value from distinctly limited resources.

Front 57

type I error

Back 57

In quality control, concluding the process is out of control when in fact it is not.

Front 58

type II error

Back 58

In quality control, concluding the process is in control when in fact it is not.

Front 59

vendor-managed inventory (VMI)

Back 59

Transferal of ownership and management of inventory within a system to its external provider, who will be compensated after its use by the system.

Front 60

yield management

Back 60

Policies and practices to maximize the benefit of a perishable resource such as service capacity.