Contains all the categories for the articles.
Jan 19, 2011
Conformance to requirements or fitness for use. Quality can be defined through five principal approaches: (1) Transcendent quality is an ideal, a condition of excellence. (2) Product-based quality is based…
Converting data to information, portraying it in a manner useful for decision making, and interfacing the information with decision-assisting methods are considered to be at the heart of an information…
The difference between actual demand and forecast demand, stated as an absolute value or as a percentage. E.g., average forecast error, forecast accuracy, mean absolute deviation, tracking signal. There are…
A never-ending effort to expose and eliminate root causes of problems; small step improvement as opposed to big step improvement. Source: http://www.apics.org/
Supplier Intelligence is the purposeful, coordinated and ethical monitoring of strategic suppliers, within a specific marketplace.
One of the four P’s (product, price, place, and promotion) that constitute the set of tools used to direct the business offering to the customer. Promotion is the mechanism whereby…
Purchasing law has been primarily developed from laws regarding contracts. In order for a contract to be valid, four conditions must be present: 1) Parties with full contractual capacity should…
The business function that attempts to predict sales and use of products so they can be purchased or manufactured in appropriate quantities in advance. Source: http://www.apics.org/ (10th ed.)
Collaboration is defined as the process by which partners adopt a high level of purposeful cooperation to maintain a trading relationship over time. The relationship is bilateral; both parties have…
Supplier integration into new product/process/service development suggests that suppliers are providing information and directly participating in decision making for purchases used in the new product/process/service. This integration can occur during…
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