Matching
1. Value is determined by this person because they are willing to pay for it
2. Goals that are specific, measureable, actionable, realistic, and time-based
3. Concerned with transforming inputs into useful outputs according to an agreed-upon strategy and thereby adding value to some entity
4. Examples of these include: facilities, labor, capital, equipment, raw materials, and supplies
5. Set of objectives, plans, and policies for the organization to compete
6. Collective knowledge and skills an organization has that distinguish it from competition
7. Subcontracting out production of parts or performance of activities
8. Processes operate 24 hours/day seven days/week in order to spread fixed cost over as large a volume as possible
9. Layout where equipment and staff grouped based on function
10. Layout where teams of workers and equipment that produce families of outputs are located close to one another
11. A chance for not meeting required specifications
12. Driven by close understanding of customer needs, disciplined use of facts, data, and statistical analysis, and diligent attention to managing, improving, and reinventing business processes
13. Tool used in Six Sigma to find the root cause of a problem
14. Tool used in Six Sigma to brainstorm problems, potential causes, and solutions
15. The Toyota Production System is commonly called this
Lean
continuous process
inputs
SMART Goals
System
Outputs
Pareto chart
Customer
Core competency
Cellular production
kPIs
process control chart
fishbone diagram
operations
cost minimization strategy
project management
six sigma
job shop
business strategy
affinity diagram
opportunity
flow shop
outsourcing