Business Essential 4.02A key terms

Front

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

Back

timing

Front

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

Back

scheduling

Front

A business's net income; the decisive point

Back

bottom line

Front

The money it takes to keep inventory in stock

Back

holding cost

Front

Resources: inputs, outputs, operations, timing

Back

inputs

Front

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

Back

routing

Front

Ensuring the degree of excellence of a good or service

Back

quality control

Front

All the stock that a business has on hand

Back

inventory

Front

The buying of goods and services for a business

Back

purchasing

Front

In the operations function, goods, or services

Back

outputs