4.2 Inventory Management Flashcards

Front

Supply chain

Back

refers to all the different stages involved

in making, distributing and selling a good or service, beginning with the material through to the production of parts, through to the distribution and sale of the product.

Front

Supply chain management

Back

involves managing the flow of

goods and services, and includes the different processes that transform raw materials into final products.

Front

Lean production

Back

is an approach that continually

seeks to reduce any form of wastage in the production process.