Business Essential 4.02A key terms

In the production process, determing when materials will arrive at a certain destination and how long they will stay there.

• timing

• scheduling

• routing

• qualit control

The production activity that establlishes the timetable to be followed in production.

• timing

• scheduling

• routing

• outputs

A business's net income; the decisive point

• operations

• holding cost

• inventory

• bottom line

The money it takes to keep inventory in stock

• bottome line

• holding cost

• logistics

• outputs

Resources

• inputs

• outputs

• operations

• timing

The production activity that determines the sequence of the steps in the production process

• inventory

• bottom line

• inouts

• routing

Ensuring the degree of excellence of a good or service

• quality control

• logistics

• inventory

• timing

All the stock that a business has on hand

• outputs

• inputs

• inventory

• holding cost

The buying of goods and services for a business

• purchasing

• operations

• logistics

• inventory

In the operations function, goods, or services

• operations

• scheduling

• outputs

• inventory