Management Flashcard

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What is Work-in-Process Inventory?

Back

Work-in-Process Inventory refers to products that are in various stages of production but are not yet completed.

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What is Computer-Integrated Manufacturing (CIM)?

Back

Computer-Integrated Manufacturing (CIM) is a complete system that designs products, manages machines and materials, and controls operations.

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What is Operations Management (OM)?

Back

Operations Management (OM) is the development and administration of activities involved in transforming resources into goods and services.

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What is Process Layout?

Back

Process Layout is a layout that organizes the transformation process into departments based on the type of work being done.

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What are Manufacturing/Production activities?

Back

Manufacturing/Production activities are the activities and processes used in making tangible products.

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What is Finished Goods Inventory?

Back

Finished Goods Inventory consists of products that have completed the manufacturing process and are ready for sale.

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What is Raw Materials Inventory?

Back

Raw Materials Inventory includes the basic materials that are used in the manufacturing process to create finished goods.

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What is Defective Products Inventory?

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Defective Products Inventory refers to products that do not meet quality standards and cannot be sold as finished goods.

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What is the purpose of Operations Management?

Back

The purpose of Operations Management is to ensure that an organization operates efficiently and effectively in producing goods and services.

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What is a layout in manufacturing?

Back

A layout in manufacturing refers to the arrangement of machines, equipment, and personnel to facilitate the production process.