Supply Chain Glossary – P Letter

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.