And, in the broadest sense, it includes the ability to react quickly to technical or environmental surprises.
Total inventory includes raw materials, work in process, and finished goods.
Plant cost includes material, labor, and plant overhead. A coding system used to identify products or packages by encoding identification data in a printed pattern that is then placed on an object. Data is retrieved with an electronic scanning device linked to a computer. Bar coding is frequently used by manufacturers for inventory control. Any point in manufacturing operations at which movement is slowed because demand placed on a resource is equal to or more than capacity.