Key Performance Indicators (KPI) What are 'Key Performance Indicators - KPI' Key performance indicators (KPI) are a set of quantifiable measures that a company uses to gauge its performanc

DefinitionKanban is a scheduling system for lean manufacturing and just-in-time manufacturing. Taiichi Ohno, an industrial engineer at Toyota, developed kanban to improve manufacturing effic

DefinitionHeavy industry is industry that involves one or more characteristics such as large and heavy products; large and heavy equipment and facilities; or complex or numerous processes. B

Ifo Business Climate Survey What is 'Ifo Business Climate Survey' A key monthly survey that measures the business climate in Germany. It is widely followed as an early indicator of the sta

DefinitionImport substitution industrialization is a trade and economic policy which advocates replacing foreign imports with domestic production. ISI is based on the premise that a country

National Association of Purchasing Management Chicago (NAPM Chicago) What is 'National Association of Purchasing Management Chicago - NAPM Chicago' An association which compiles a survey a

DefinitionCellular manufacturing is a process of manufacturing which is a subsection of just-in-time manufacturing and lean manufacturing encompassing group technology. The goal of cellular

Make To Order (MTO) What does 'Make To Order - MTO' mean Make to order (MTO) is a business production strategy that typically allows consumers to purchase products that are customized to t

Manufacturing Production What is 'Manufacturing Production' Manufacturing production is the creation and assembly of components and finished products for sale. Three common types of manufa

Magnet Employer What is 'Magnet Employer' A popular business or businessperson to whom job candidates naturally gravitate. Magnet employers often have brand name recognition behind them, a