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U-shaped groupings of workers and machines that improve materials handling and flow are known as
Purchase Order
A document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.
Inventory Control
The management practice of overseeing and regulating the ordering, storing, and use of components that a company uses in the production of the items it sells.
Approved Vendor
A supplier who has been vetted and meets a company's criteria for quality, reliability, and business ethics, and is thus authorized to supply goods or services.
Weighted Average
A calculation that takes into account the varying weights or importance of different elements in a data set, often used in accounting and inventory management.
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