MIS 301: Chapter 10

Product Life Cycle

1. introduction 2. growth 3. Maturity 4.Decline

MRP II

MRP II integrates a firm's production, inventory management, purchasing, financing, and labor activities.

PLM

Product lifecycle management (PLM) is a business strategy that enables manufacturers to share product-related data that support product design and development and supply chain operations.

MRP

The planning process that integrates production, purchasing, and inventory management of interdependent items is called material requirements planning (MRP).

CIM

computer integrated manufacturing: (1) to simplify all manufacturing technologies and techniques (2) to automate as many of the manufacturing processes as possible, and (3) to integrate and coordinate all aspects of design, manufacturing, and related functions via computer systems.

ERP

enterprise resource planning system:

TPS

transaction processing system: support the monitoring, collection, storage and processing of data from the organizations basic business transactions, each of which generates and collects data continuously in real time