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MGT Final Review

MGT Final Review - End of Term Section Vocabulary Chapter...

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End of Term Section: Vocabulary Chapter 10 Assignable variation: in process output, a variation whose cause can be identified. A nonrandom variation Attributes: generate data that are counted. C-chart: control chart for attributes, used to monitor the number of defects per unit. Central limit theorem: the distribution of sample averages tends to be normal regardless of the shape of the process distribution Control Chart: a time-ordered plot of sample statistics, used to distinguish between random and nonrandom variability. Control Limits: the dividing lines between random and nonrandom deviations from the mean of the distribution. Inspection: appraisal of goods or services Mean control chart: control chart used to monitor the central tendency of a process. P-chart: control chart for attributes, sued to monitor the proportion of defective items in a process. Process capability: the inherent variability of process output relative to the variation allowed by the design specification. Process variability: natural or inherent variability in a process. Quality control: a process that evaluates output relative to a standard and takes corrective action when output doesn’t meet standards Quality of conformance: a product or service conforms to specifications Random Variation: natural variation in the output of a process, created by countless minor factors. Range control chart: control chart used to monitor process dispersion. Run: sequence of observations with a certain characteristic. Run test: a test for patterns in a sequence Sampling distribution: a theoretical distribution of sample statistics. Specifications: a range of acceptable values established by engineering design or customer requirements.
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Statistical process control: statistical evaluation of the output of a process Type I error: concluding a process is not in control when it actually is. Type II error: Concluding a process is in control when it is not Variables: generate data that are measured. Chapter 11 Avoidance: finding ways to minimize the number of itmes that are returned. Bullwhip effect: inventory oscillations become progressively larger looking backward through the supply chain. Centralized purchasing: purchasing is handled by one special department. Closed-loop supply chain: a manufacturer controls both the forward and reverse shipment of product. Collaborative planning, forecasting, and Replenishment: a supply chain initiative that focuses on information sharing among supply chain trading partners in planning, forecasting, and inventory replenishment. Cross-docking: a technique whereby goods arriving at a warehouse from a supplier are unloaded from the supplier’s truck and loaded onto outbound trucks, thereby avoiding warehouse storage Decentralized purchasing: individual departments or separate locations handle their own purchasing requirements.
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MGT Final Review - End of Term Section Vocabulary Chapter...

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