BU121 Study Guide - Final Guide: Enterprise Resource Planning, Cellular Manufacturing, E-Procurement

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BU121 Final Textbook notes
Chapter 5
Unsecured loans- the ooe does’t hae to pledge speifi assets as a seuity
Trade credit- extension of credit by seller to buyer between the time the buyer receives the
goods or services and when it pays for them
Line of credit- agreement between bank and business that specifies max amount of short-term
loans they will give
Revolving line of credit- allos the ooe to hae aess to fuds agai oe they’e ee
repaid
Factoring- short-term financing where a company sells its account receivable at a discount to a
factor
Term loan- initial maturity of more than one year
Bonds- represent long-term debt obligations issued by gov or corporations
Common shares- most widely form of ownership with the right of owner to vote on important
corporate decisions
Share or stock dividends- payments to shareholders in the form of more shares
Preferred shares- have a specified fixed dividend (unlike common) but typically not a voice in
management
Chapter 7
Production planning- aspect of operations where the company considers its resources and its
own goals to determine the best production methods
Job shop- manufacturing company that produces goods in response to customer orders
Process manufacturing- a production process in which the basic input is broken into one or
more outputs (products)
Continuous process- uses long production runs lasting days, weeks or months without
equipment shutdowns; generally used for high-volume, low-variety products with standardized
parts
Intermittent process- uses short production runs to make batches of different products; for
high variety, low-volume products
Process layout- arranges workflow around the production process, all workers do same thing
Product layout (assembly line)- for products that require continuous or repetitive production
process
Fixed-position layout- product stays in one place while workers and machinery move to it
Cellular manufacturing- uses small, self-contained production units, each performing all or
most of the tasks
Make-or-buy decision- should a company make its production materials or buy them?
Materials requirement planning (MRP)- computerized system of controlling the flow of
resources and inventory
Manufacturing requirement planning 2 (MRP2)- integrates data from many departments
Enterprise resource planning (ERP)- resource-planning system that has info on the suppliers
and customers
E-procurement- purchasing supplies and materials through the internet
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Unsecured loans- the (cid:271)o(cid:396)(cid:396)o(cid:449)e(cid:396) does(cid:374)"t ha(cid:448)e to pledge spe(cid:272)ifi(cid:272) assets as a se(cid:272)u(cid:396)ity. Trade credit- extension of credit by seller to buyer between the time the buyer receives the goods or services and when it pays for them. Line of credit- agreement between bank and business that specifies max amount of short-term loans they will give. Revolving line of credit- allo(cid:449)s the (cid:271)o(cid:396)(cid:396)o(cid:449)e(cid:396) to ha(cid:448)e a(cid:272)(cid:272)ess to fu(cid:374)ds agai(cid:374) o(cid:374)(cid:272)e they"(cid:448)e (cid:271)ee(cid:374) repaid. Factoring- short-term financing where a company sells its account receivable at a discount to a factor. Term loan- initial maturity of more than one year. Bonds- represent long-term debt obligations issued by gov or corporations. Common shares- most widely form of ownership with the right of owner to vote on important corporate decisions. Share or stock dividends- payments to shareholders in the form of more shares. Preferred shares- have a specified fixed dividend (unlike common) but typically not a voice in management.

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