Operations Management/ Decision-making Tools

A manufacturing process where goods are produced in groups an not in a continuous stream

The production of items that meet the specific requirements of the customer

Splitting the production line into a number of self-contained units and each is reponsible for a certain part of the assembly process.

The manufacturing of large quantities of a product mostly using assembly line technology

A repetitive manufacturing process where each product passes through the same sequence of operations, and the machines and equipment are laid out in the order that they are used.

Limited legal monopoly granted to an individual or firm to make, use, and sell its invention and to prevent others from doing so

An economic measurment that is used to predict future patterns of inflation in the economy

Mechanical or chemical steps that are used to create an object and is usually repeated to create multiple units of the same item

The activity of acquiring goods or services in order to accomplish the goals of an organization

An agreement within a company of organization, where the members most suited for a specific activity or task assume greater responsibility for its execution

Forming, publishing, and implementing guidlinesand rules for common use to achieve order and discipline

Industries that require large sums of investment

Industries where the a larger portion of the total costs is due to labor

Industries that are responsible for the extraction and production of natural resources

Industries that manufacture finished goods and products from raw materials