Inventory theoryMaterial theory (or more formally the mathematical theory of inventory and production) is the sub-specialty within operations research and operations management that is concerned with the design of production/inventory systems to minimize costs: it studies the decisions faced by firms and the military in connection with manufacturing, warehousing, supply chains, spare part allocation and so on and provides the mathematical foundation for logistics.
BottleA bottle is a narrow-necked container made of an impermeable material (such as glass, plastic or aluminium) in various shapes and sizes that stores and transports liquids. Its mouth, at the bottling line, can be sealed with an internal stopper, an external bottle cap, a closure, or induction sealing. First attested in 14th century. From the English word bottle derives from an Old French word boteille, from vulgar Latin butticula, from late Latin buttis ("cask"), a latinisation of the Greek βοῦττις (bouttis) ("vessel").
Aggregate planningAggregate planning is a marketing activity that does an aggregate plan for the production process, in advance of 6 to 18 months, to give an idea to management as to what quantity of materials and other resources are to be procured and when, so that the total cost of operations of the organization is kept to the minimum over that period. The quantity of outsourcing, subcontracting of items, overtime of labour, numbers to be hired and fired in each period and the amount of inventory to be held in stock and to be backlogged for each period are decided.
Active packagingThe terms active packaging, intelligent packaging, and smart packaging refer to amplified packaging systems used with foods, pharmaceuticals, and several other types of products. They help extend shelf life, monitor freshness, display information on quality, improve safety, and improve convenience. The terms are often related and can overlap. Active packaging usually means having active functions beyond the inert passive containment and protection of the product.
Vehicle registration plateA vehicle registration plate, also known as a number plate (British English), license plate (US English) or licence plate (Canadian English), is a metal or plastic plate attached to a motor vehicle or trailer for official identification purposes. All countries require registration plates for road vehicles such as cars, trucks, and motorcycles. Whether they are required for other vehicles, such as bicycles, boats, or tractors, may vary by jurisdiction.
Cold chainCold chain is defined as the series of actions and equipment applied to maintain a product within a specified low-temperature range from harvest/production to consumption. An unbroken cold chain is an uninterrupted sequence of refrigerated production, storage and distribution activities, along with associated equipment and logistics, which maintain a desired low-temperature interval to keep the safety and quality of perishable or sensitive products, such as foods and medicines.
Safety stockSafety stock is a term used by logisticians to describe a level of extra stock that is maintained to mitigate risk of stockouts (shortfall in raw material or packaging) caused by uncertainties in supply and demand. Adequate safety stock levels permit business operations to proceed according to their plans. Safety stock is held when uncertainty exists in demand, supply, or manufacturing yield, and serves as an insurance against stockouts. Safety stock is an additional quantity of an item held in the inventory to reduce the risk that the item will be out of stock.
KanbanKanban (Japanese: カンバン and Chinese: 看板, meaning signboard or billboard) is a scheduling system for lean manufacturing (also called just-in-time manufacturing, abbreviated JIT). Taiichi Ohno, an industrial engineer at Toyota, developed kanban to improve manufacturing efficiency. The system takes its name from the cards that track production within a factory. Kanban is also known as the Toyota nameplate system in the automotive industry. In kanban, problem areas are highlighted by measuring lead time and cycle time of the full process and process steps.
Package testingPackage testing or packaging testing involves the measurement of a characteristic or property involved with packaging. This includes packaging materials, packaging components, primary packages, shipping containers, and unit loads, as well as the associated processes. Testing measures the effects and interactions of the levels of packaging, the package contents, external forces, and end-use. It can involve controlled laboratory experiments, subjective evaluations by people, or field testing.
Inventory controlInventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction.
