Technology Is Defined as

question 239

Multiple Choice

Technology is defined as

• A)the process of developing and revising models.
• B)new innovations and creations.
• C)the processes used to produce goods and services.
• D)the process of recycling products.

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Definitions:

SCM

Supply Chain Management, the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

Just-In-Time Production

A manufacturing methodology aimed at reducing inventory costs by producing goods only as they are needed in the production process or by the customer.

Inventory Replenishment

The process of adding stock to inventory to maintain desired levels and fulfill customer orders without delay.

Process Excellence

Continuous improvement of business processes to achieve superior performance and efficiency.