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41 Cards in this Set
- Front
- Back
Product Design
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the process of defining all of the product's characteristics
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Service Design
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process of establishing all of the characteristics of the service, including physical, sensual and psychological benefits
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Benchmarking
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process of studying the practices of the companies considered "best-in-class" and comparing your company's performance against theirs
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Reverse Engineering
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process of disassembling a product to analyze its design features
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Early Supplier Involvement (ESI)
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involving suppliers in the early stages of product design
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Break-even Analysis
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technique used to compute the amount of goods a company would need to sell to cover its costs
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Fixed Costs
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costs a company incurs regardless of how much it produces
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Variable Costs
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costs that vary directly with the amount of units produced
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Break-even Formula
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F/(SP - VC) = break-even quantity
F = fixed cost VC = variable cost SP = selling price per unit |
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Design for Manufacture (DFM)
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series of guidelines to follow in order to produce a product easily and profitably
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Product Life Cycle
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series of stages that products pass through in their lifetime, characterized by changing product demands over time
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Concurrent Engineering
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an approach that brings together multifunction teams in the early phase of product design in order to simultaneously design the product and the process
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Remanufacturing
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concept of using components of old products in the production of new ones
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Intermittent Operation
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processes used to produce a variety of products with different processing requirements in lower volumes
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Repetitive Operations
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Processes used to produce one or a few standardized products in high volume
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Project Process
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process used to make a one-at-a-time product exactly to customer specifications
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Batch Process
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process used to produce a small quantity of products in groups or batches based on customer orders or specifications
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Line Process
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process used to produce a large volume of a standardized product
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Continuous Process
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process that operates continually to produce a high volume of a fully standardized product
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Process Flow Analysis
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technique used for evaluating a process in terms of the sequence of steps from inputs to outputs with the goal of improving its design
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Process Flowchart
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chart showing the sequence of steps in producing the product or service
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Bottleneck
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longest task in the process
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Make-to-stock strategy
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produces standard products and services for immediate sale or delivery
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Assemble-to-order strategy
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produces standard components that can be combined to customer specifications
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Make-to-order
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produces products to customer specifications after an order has been received
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Process Performance Metrics
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measurements of different process characteristics that tell how a process is performing
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Throughput Time
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average amount of time it takes a product to move through the system
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Process Velocity
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ratio of throughput time to value-added time
throughput time/value-added time |
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Productivity
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ratio of outputs over inputs
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Utilization
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ratio of time a resource is used to time it is available for use
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Efficiency
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ratio of actual output to standard output
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Information Technology (IT)
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Technology that enables storage, processing and communication of information within and between firms
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Enterprise Resource Planning
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large software programs used for planning and coordinating all resources throughout the entire enterprise
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Global Positioning Systems (GPS)
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wireless technology that uses satellite transmission to communicate exact locations
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Radio Frequency Identification (RFID)
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wireless technology that uses memory chips with radio antennas attached to objects used to transmit data
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Automation
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using machinery to perform work without human operators
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Flexible Manufacturing System (FMS)
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automated system that combines the flexibility of intermittent operations with the efficiency of continuous operations
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Numerically Controlled (NC) Machine
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machine controlled by a computer that can perform a variety of tasks
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Computer-Aided Design
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system that uses computer graphics to design new products
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Computer-Integrated Manufacturing (CIM)
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integration of product design, process planning, and manufacturing using an integrated computer system
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Service Package
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grouping of physical, sensual, and psychological benefits that are purchased together as part of the service
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