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ABC Analysis: A form of Pareto analysis applied to a group of products to enable selective inventory management controls. ABC Classification: The classification of inventory, after ABC analysis, into three basic groups for the purpose of stock control and planning. A items may also be of strategic importance to the business concerned.

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With the justification aside, they next had us go through exercises calculating net present value and ROI for a hypothetical capital investment in tooling – as though a shop floor supervisor would do this at any point in the course of their job. The class wasn’t some secret management thing.

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Supply Chain Glossary of Terms

Boeing: The Turning Point(s)

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