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Job Order Manufacturing
A production system in which products are manufactured individually or in batches based on specific customer orders.
Process Manufacturing
A production method that involves the transformation of raw materials into finished goods through chemical, biological, or physical processes.
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and are an integral part of the finished product.
FIFO Method
A method of inventory valuation where the first items purchased are the first ones to be used or sold, standing for "First In, First Out."
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