| assembly-line production | Systems used to mass-produce large volumes of a standardized product.
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| asset utilization | The extent to which assets are "working," generating income for the organization.
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| buffer stocks | Inventories held for some unexpected contingency.
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| build-to-order | Taking an order first, then building the product that a customer will purchase those products.
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| build-to-stock | Stocking a distribution channel in the anticipation.
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| continuous flow production | Production systems that continuously produce a standardized output that flows out of the system.
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| design for manufacturing | Trying to increase productivity by designing products that are easy to manufacture.
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| economies of scale | Cost advantages derived from a large volume of sales or production.
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| flexible production technology | A set of methodologies that allows enterprises to produce a wider range of end products from a given production system without incurring a cost penalty.
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| inventory holding costs | The capital cost of money tied up in inventory and the cost of the warehouse space required to store inventory.
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| inventory turnover | The speed with which inventory is replaced.
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| job shop | Production systems used when items are ordered individually.
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| just in time | Inventory that enters a production process just in time to be used.
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| learning effects | Cost savings that come from learning by doing.
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| mass customization | The ability to customize the final output of a product to individual customer requirements without suffering a cost penalty.
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| operations | The different activities involved in creating an organization's products and services.
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| operations managers | People who manage operations.
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| production system | How the flow of work is configured.
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| productivity | The output produced by a given input.
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| productivity of capital | Sales divided by the total capital (money) invested in a business.
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| productivity of labor | Unit output divided by some measure of labor inputs.
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| small batch | Production systems used when customers order in small batches but when each order is different.
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| supply chain | The chain of suppliers that provides raw materials, partly finished products, or finished products to an organization.
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