Ch 8 * Production of Goods

Front

Area of management responsible for the activities necessary to produce goods and services.

Back

operations management

Front

Process of changing and improving resources to create goods or services.

Back

conversion

Front

Changing the form of raw materials for another use.

Back

materials processing

Front

Specialization of individuals who perform specific tasks.

Back

division of labor

Front

Manufacturing goods in large quantities using standard techniques.

Back

mass production

Front

Converting resources to a product that fits the specifications of a particular customer.

Back

custom manufacturing

Front

All the activities required to create a product.

Back

production process

Front

Finding suppliers of materials needed for the production of a product.

Back

sourcing

Front

Business that sells materials, supplies, or services to an organization that creates product. Also called a vendor.

Back

supplier

Front

Assortment or selection of items that a business has on hand at a particular point in time.

Back

inventory