GLOSSARY OF ENGLISH TERMS- FIRST PART

Is a process in a chain of processes, such that its limited capacity reduces the capacity of the whole chain

• Bottleneck

• Forecasting

• Feedback

• Block

Is the primary aim of any business entity or organization

• Innovation

• Decision Making

• Value creation

• Effectiveness

It can be gained by offering the consumer a greater value than the competitors, such as by offering lower prices or providing quality services or other benefits

• Continuous Improvement

• Competitive Advantage

• Innovation

• Decision Making

Is the return of information about the result of a process, activity, or experience, usually relating to an individual's performance within a company

• Bottleneck

• Outputs

• Logistics management

• Feedback

Is the essence of management. Managers are constantly required to evaluate alternatives and make decisions regarding a wide range of matters.

• Value creation

• Decision Making

• Operations Management

• Continuous Improvement

In a management context means a never-ending effort to expose and eliminate root causes of problems

• Continuous Improvement

• Poka-Yoke

•  Efficiency

• Competitive Advantage

That part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services and related information

• Competitive Advantage

• Inventory Management

• Logistics management

• Supply Chain Management

Is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory

• Flexible Manufacturing

• Inventory Management

• Logistics management

• Theory of Constraints

It involves the generation of a number, set of numbers, or scenario that corresponds to a future occurrence. It is essential to short-range and long-range planning.

• Forecasting

• Logistics management

• Layout

• Operations Scheduling

The acronym MRP means...

• Manufacturing Resources Planning

• Management Requirements Planning

• Materials Responsabile Project

• Manufacturing Range Publishing