Raw ingredients or intermediates available for further processing into marketable products.
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One plant's need for a part or product that is produced by another plant or division within the same organization. Although it is not a customer order, it is usually handled by the master production scheduling system in a similar manner.
A highly profitable product in a low-growth market. Reference: APICS word of the week - Cash Cow. Challenge In the comment section below share some examples of a "Cash Cow" that you can think of.
The practice of dividing a customer base into groups of individuals who are similar in specific ways relevant to marketing. Traditional segmentation focuses on identifying customer groups based on demographics and attributes such as attitude and psychological profiles.
A small-scale production facility used to develop production processes and to manufacture small quantities of new products for field testing and so forth. Syn: semiworks.
An agreement between countries intended to reduce or remove barriers to trade wtihin member countries. Frequently, but not always, those countries are geographically close. Examples of trade blocs are: The European Economic Communitya and the North American Free Trade Agreement (NAFTA). Sny: trading bloc.
Reference: APICS Word of the week. A materials handling approach for order picking where the pick location is brought to the order picker (e.g., carousels).
A materials handling approach for order picking where the pick location is brought to the order picker (e.g., carousels).
Reference: APICS Word of the Week. A set inventory level where, if the total stock on hand plus on order falls to or below that point, action is taken to replenish the stock. The order point is normally calculated as forecasted usage during the replenishment lead time plus safety stock. Syn: reorder point, statistical order point, trigger level. See: fixed reorder quantity inventory model.
1) Provider of goods or services. See: vendor. 2) Seller with whom the buyer does business, as opposed to vendor, which is a generic term referring to all sellers in the marketplace.
Reference: APICS Word of The Week, Supplier. |