ARBUS101 Chapter Notes - Chapter 10: Program Evaluation, Gantt Chart, Critical Path Method
3 Nov 2017
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Document Summary
Module 6 (ch. 10) - producing world-class goods & Research and development (r&d) - work directed towards the innovation, introduction, & improvement of products/procedures. Production - creation of finished goods & services using land, labour, capital, entrepreneurship, Production management - term to describe all activities managers do to help firms create goods. Operations management - specialized area in management that coverts/transforms resources " goods/services. Facility location - process of selection geographical location for company"s operations. Facility layout - physical arrangement of resources (including people) in the production process. Materials requirement planning (mrp) - computer-based production management system that uses sale forecasts so needed parts/materials are available @ the right time/place. Enterprise resource planning (erp) - computer application enabling firm to manage all operations on single set of corporate data. Purchasing - area in firm that searches for quality material sources, best suppliers, & negotiates best price. Just-in-time (jit) inventory control - minimum inventory is always kept with parts for assembly line.
