total quality management: Total quality management (TQM) is the process of detecting and minimizing or eliminating production defects, optimizing supply chain management, improving customer experience, and ensuring that staff are properly trained.
psychomotor behavior: Psychomotor activity is the direct response of cognitive activity and results in muscle commands and mediated muscle activity. Industrialorganizational psychology will apply how psychomotor skills can enhance memory and aid in the acquisition of new business skills.
value engineering: Value engineering is the process of evaluating new or existing products during the design phase in order to cut costs and improve functionality, thereby increasing the product's value.
rating factor in time study: The time study analyst multiplies actual time with factor called “Rating Factor” to set the normal time which a normal worker would take.
Gantt chart: A Gantt chart is a type of bar chart that illustrates a project schedule. Modern Gantt charts also show the dependency relationships between activities and the current schedule status.
scientific layout: scientific layout is the most effective physical arrangement of machines, processing equipment, and service departments in a plant, either existing or in planning, to achieve the highest coordination and efficiency of the 4 M's (Men, Materials, Machines, and Methods).
Autofacturing: Autofacturing is a production system that is comprised primarily of automated equipment which is configured as several integrated subsystems, using one common database and computer controls to make, test and transport specifically designed products at high and uniform quality levels meeting flexible specifications with a minimum of human effort.
probabilistic time: Predicts and estimates accomplishment duration of events or activities in operations by an approach called threetime estimates.
profit sharing plan: A profitsharing plan is a retirement plan that gives employees a share in the profits of a company. Under this type of plan, also known as a deferred profitsharing plan (DPSP), an employee receives a percentage of a company's profits based on its quarterly or annual earnings.
cost accounting: Cost accounting is the reporting and analysis of a company's cost structure. Cost accounting is the process of allocating costs to cost items, which often comprise a business's products, services, and other activities.
queuing theory: The study and development of models to anticipate the behavior of a manufacturing process that aim to offer services for randomly occurring demands in manufacturing work stations is known as queuing theory in manufacturing.