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It is a product of "scientific specialization and technical differentiation" that seems to be a characteristic of Western culture. [1] Rationalization is the guiding principle behind bureaucracy and the increasing division of labor , and has led to an increase in both the production and distribution of goods and services .
Inventory optimization refers to the techniques used by businesses to improve their oversight, control and management of inventory size and location across their extended supply network. [1] It has been observed within operations research that "every company has the challenge of matching its supply volume to customer demand. How well the ...
Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software-based, but it is possible to conduct MRP by hand as well.
The term "reliability-centered maintenance" authored by Tom Matteson, Stanley Nowlan and Howard Heap of United Airlines (UAL) to describe a process used to determine the optimum maintenance requirements for aircraft [3] [disputed – discuss] (having left United Airlines to pursue a consulting career a few months before the publication of the final Nowlan-Heap report, Matteson received no ...
Manufacturing – use of machines, tools and labor to produce goods for use or sale. Includes a range of human activity, from handicraft to high-tech , but most commonly refers to industrial production, where raw materials are transformed into finished goods on a large scale.
Capability management is the approach to the management of an organization, typically a business organization or firm, based on the "theory of the firm" as a collection of capabilities that may be exercised to earn revenues in the marketplace and compete with other firms in the industry.
Industry 4.0 is a project in the high-tech strategy of the German government that promotes the computerization of traditional industries such as manufacturing. The goal is the intelligent factory (Smart Factory) that is characterized by adaptability, resource efficiency , and ergonomics, as well as the integration of customers and business ...
The effect of industrialisation shown by rising income levels in the 19th century, including gross national product at purchasing power parity per capita between 1750 and 1900 in 1990 U.S. dollars for the First World, including Western Europe, United States, Canada and Japan, and Third World nations of Europe, Southern Asia, Africa, and Latin America [1] The effect of industrialisation is also ...