Mgt301 nau Study guides, Class notes & Summaries

Outsourcing - Transferring a firm's activities that have traditionally been internal to external suppliers Vendor-managed inventory - a system in which a supplier maintains material for the buyer, often delivering directly to the buyer's using department. Postponement - Delaying any modifications or customization to a product as long as possible in the production process. The concept is to minimize internal variety while maximizing external variety. Blanket order - A long-term purchase c...

Final Exam MGT301 NAU.

Final Exam MGT301 NAU.

Outsourcing Transferring a firm's activities that have traditionally been internal to external suppliers Vendor-managed inventory a system in which a supplier maintains material for the buyer, often delivering directly to the buyer's using department. Postponement Delaying any modifications or customization to a product as long as possible in the production process. The concept is to minimize internal variety while maximizing external variety. Blanket order A long-term purchase commitme...