(Terminology) Match the lettered terms on the left with the numbered descriptions on the right. A letter may be used more than once.
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a. Autonomation |
1. Expected selling price less desired profit |
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b. Electronic data interchange |
2. A system in which inventory is produced before it is needed and placed in storage until needed |
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c. Flexible manufacturing system |
3. Streamlined accounting system |
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d. Just in time |
4. The situation of not having a product or component available when it is needed |
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e. Multiprocess handling |
5. A manufacturing environment in which machinery is programmed to stop work when specified situations arise |
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f. Order point |
6. The use of machines and robots to perform the production process |
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g. Pull system |
7. The broadening of worker involvement to include monitoring all machines in a manufacturing cel |
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h. Push system |
8. Computer to computer transfer of information in virtual real time using standardized formats developed by the American National Standards Institute. |
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i. Safety stock |
9. A buffer supply of inventory that minimizes the possibility of running out of a product or component |
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j. Stockout |
10. A system in which purchases and production are made only on an as needed basis |
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k. Target cost |
11. A philosophy that focuses on valueadded activities |
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l. Backflush |
12. The inventory level at which a purchase order is to be issued |