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

Manager Universe (Benchmark) What is 'Manager Universe (Benchmark)' A peer group of investment managers who have the same investment style. Manager universe data is often used for comparis

DefinitionA back office in most corporations is where tasks building layout of early companies where the front office would contain the sales and other customer-facing staff and the back off

Quality Control Chart What is 'Quality Control Chart' A graphic that depicts whether sampled products or processes are meeting their intended specifications and, if not, the degree by whic

DefinitionQueueing theory is the mathematical study of waiting lines, or. A queueing model is constructed so that queue lengths and waiting time can be predicted. Queueing theory is generall

DefinitionQuality management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality imp

DefinitionIn a supply chain, a vendor, or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to

Generalized AutoRegressive Conditional Heteroskedasticity - GARCH What is 'Generalized AutoRegressive Conditional Heteroskedasticity (GARCH)' A statistical model used by financial institut

Quality Control What is 'Quality Control' Quality control is a process through which a business seeks to ensure that product quality is maintained or improved and manufacturing errors are