A complete supply chain dedicated to the reverse flow of products and materials for the purpose of returns, repair, remanufacture, and/or recycling.
Reference: APICS Dictionary
The business functions of procurement planning, purchasing, inventory control, traffic, receiving, incoming inspection, and salvage operations.
A technique for calculating operation start dates and due dates. The schedule is computed starting with due date for the order and working backward to determine the required start date and/or due dates for each operation.
The rate of production usually expressed in units, cases, or some other measure, expressed by a period of time (e.g., per hour, shift, day or week). Syn. Production level.
A time-boxed set of activities carried out by the cell team during the week of cell implementation. The kaizen event is an implementation arm of a lean manufacturing program.
See also: Kaizen Blitz.
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A method of just-in-time production that uses standard containers or lot sizes with a single card attached to each. It is a pull system in which work centers signal with a card that they wish to withdraw parts from feeding operations or suppliers. The Japanese word kanban, loosely translated, means card, billboard, or sign but other signaling devices such as colored golf balls have also been used. The term is often used synonymously for the specific scheduling system developed and used by the Toyota Corporation in Japan.
The number of times that an inventory cycles, or “turns over,” during the year. A frequently used method to compute inventory turnover is to divide the average inventory level into the annual cost of sales. For example, an average inventory of $3 million divided into an annual cost of sales of $21 million means that inventory turned over seven times. Syn: inventory turns, turnover.
Authorization to receive goods, such as a blanket release, firm purchase order item, or supplier schedule. Open-to-receive represents near-term impact on inventory and is often monitored as a control technique in aggregate inventory management. The total of open-to-receive, other longer-term purchase commitments, and open-to-buy represents the material and services cash exposure of the company.
The recommended length of time between tool calibrations. Normally expressed in days.
Key strategic relationships. By partnering with big players, via equity offerings if necessary, a company creates barriers to entry into supply chain relationships for competitors.