Supply Chain Glossary – P Letter

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Description

  • Product Lifecycle Management (PLM): PLM is a system that manages product data and processes from design to retirement.
  • Process Improvement: Process improvement focuses on enhancing workflows and operations to increase efficiency and quality.
  • Predictive Maintenance: Predictive maintenance uses data and analytics to forecast equipment maintenance needs, reducing downtime.
  • Productivity Metrics: Productivity metrics measure the efficiency and output of manufacturing and operational processes.
  • Purchasing Strategy: Purchasing strategy defines how a company acquires materials and components, considering cost and quality.
  • Packaging Optimization: Packaging optimization reduces packaging waste and improves the protection of products during shipping.
  • Parts Per Million (PPM): PPM measures defect rates in manufacturing, representing the number of faulty parts per million produced.
  • Production Planning: Production planning coordinates resources and schedules to meet production goals and customer demand.
  • Procurement Analytics: Procurement analytics uses data analysis to optimize supplier relationships and procurement strategies.
  • Performance Metrics: Performance metrics evaluate the effectiveness of supply chain and operational activities.
  • Quality Control: Quality control ensures products meet specified quality standards through inspections and testing.
  • Production Efficiency: Production efficiency measures how well resources are utilized to manufacture products.
  • Pull System: A pull system produces items based on customer demand, reducing excess inventory.
  • Process Automation: Process automation uses technology to streamline repetitive tasks and improve operational efficiency.
  • Production Scheduling: Production scheduling determines the sequence and timing of manufacturing tasks.
  • Pareto Analysis: Pareto analysis identifies the most significant factors contributing to a problem, helping prioritize improvements.
  • Product Traceability: Product traceability tracks the history and origin of products to ensure quality and compliance.
  • Procurement Strategy: Procurement strategy outlines how a company acquires goods and services to meet business objectives.
  • Performance Improvement: Performance improvement initiatives aim to enhance operational efficiency and effectiveness.
  • Quality Management System (QMS): QMS establishes processes to maintain product quality and meet regulatory requirements.
  • Production Capacity: Production capacity assesses a facility’s ability to produce goods within a specified timeframe.
  • Project Management: Project management involves planning and executing projects to achieve specific goals and deliverables.
  • Predictive Analytics: Predictive analytics uses data and statistical algorithms to forecast future trends and outcomes.
  • Product Design: Product design focuses on creating products that meet customer needs and are manufacturable.
  • Plant Layout Optimization: Plant layout optimization arranges equipment and resources for efficient manufacturing.
  • Procurement Process: The procurement process includes sourcing, purchasing, and receiving goods and services.
  • Process Control: Process control monitors and adjusts production processes to maintain quality and consistency.
  • Production Cost Analysis: Production cost analysis assesses the expenses associated with manufacturing products.
  • Performance Evaluation: Performance evaluation assesses the effectiveness of employees and processes.
  • Production Line Balancing: Production line balancing optimizes the allocation of tasks in a manufacturing assembly line.