5.6 Glossary of key terms
Unit 5.6 Glossary of key terms - Production planning (HL only) Key term Definition Buffer stock Capacity utilization Capacity utilization rate Capital productivity Cost to buy (CTB) Cost to make (CTM) In a ‘make or buy decision’, this method calculates the total cost of producing the product in-house, instead of using a third-party provider. Defect Defect rate Finished goods Global supply chains Just-in-case (JIC)...