ABC inventory control is a frequently used method of control for inventory. The ABC analysis divides inventory into three categories, with “A” items being the most important and “C” items being the least important.
An unusual, uncommon or irregularly high product demand that is outside the normal parameters established by the management policy is called an Abnormal Demand.
Whether its Lean Six Sigma, just in time or a pull system, flow is the term used to refer to a production or service environment that continuously moves value through the value stream without interruptions. An environment that has flow would have very low levels of muda, muri and mura. Flow can also be described as the progression of tasks involved in creating products and information minus stoppages, delays, scrap, rework, reversals and backflows. Flow applies to both materials and information.
Actual demand is made up of "actual" or "real" customer orders. This can sometimes include allocations/reservations of items for order, ingredients or items driven by MRP for orders, or raw materials for production or distribution against orders.
Standard work is a detailed definition of the current agreed-upon steps needed for a person to complete one work cycle in the absolute best and most reliable method possible.
Change management is a method or an approach that is generally systematic in the way it works. Different change management approaches can be used when dealing with the transformation or transition of a business or organizations objectives, goals, processes, culture and of course technology. It even works with behavior. One of the main purpose of change management is simply to guide or manage the change that a company, department or individual will experience during transitions.
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