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Make To Stock
Build to stock, or ''make to stock'', often abbreviated as ''BTS'' or ''MTS'', is a build-ahead production approach in which production plans may be based upon sales forecasts and/or historical demand. BTS is usually associated with the Industrial Revolution, industrial revolution mass production techniques, where in anticipation of demand vast quantities of goods are produced and stocked in warehouses. Overview Build to stock is frequently considered as an appropriate solution for products where there are few product lines and long changeover times between costly products. Some firms build all their products to order while others build them to stock. Given the widespread proliferation of products, there are a number of manufacturers taking a hybrid approach, where some items are built to stock and others are built to order. Build to stock has been replaced in many industries by ''build to order'', where items are produced to specific sales orders. References Business terms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrial Revolution
The Industrial Revolution, sometimes divided into the First Industrial Revolution and Second Industrial Revolution, was a transitional period of the global economy toward more widespread, efficient and stable manufacturing processes, succeeding the Second Agricultural Revolution. Beginning in Kingdom of Great Britain, Great Britain around 1760, the Industrial Revolution had spread to continental Europe and the United States by about 1840. This transition included going from craft production, hand production methods to machines; new Chemical industry, chemical manufacturing and Puddling (metallurgy), iron production processes; the increasing use of Hydropower, water power and Steam engine, steam power; the development of machine tools; and rise of the mechanisation, mechanised factory system. Output greatly increased, and the result was an unprecedented rise in population and population growth. The textile industry was the first to use modern production methods, and textiles b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mass Production
Mass production, also known as mass production, series production, series manufacture, or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods. The term ''mass production'' was popularized by a 1926 article in the ''Encyclopædia Britannica'' supplement that was written based on correspondence with Ford Motor Company. ''The New York Times'' used the term in the title of an article that appeared before the publication of the ''Britannica'' article. The idea of mass production is applied to many kinds of products: from fluids and particulates handled in bulk (food, fuel, chemicals and mined minerals), to clothing, textiles, parts and assemblies of parts ( household appliances and automobiles). Some mass production techniques, such as standardized sizes and production lines, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Build To Order
Build to Order (BTO: sometimes referred to as Make to Order or Made to Order (MTO)) is a production approach where products are not built until a confirmed order for products is received. Thus, the end consumer determines the time and number of produced products.Leanmanufacture (2019)“Build to order - Inventory Management Model” Retrieved June 08, 2019. The ordered product is customized, meeting the design requirements of an individual, organization or business. Such production orders can be generated manually, or through inventory/production management programs. BTO is the oldest style of order fulfillment and is the most appropriate approach used for ''highly customized'' or ''low volume'' products. Industries with expensive inventory use this production approach. Moreover, "Made to order" products are common in the food service industry, such as at restaurants. BTO can be considered a Just in Time (JIT) production system, as components or products are only delivered jus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Order
{{onesource, date=December 2018 The sales order, sometimes abbreviated as SO, is an order issued by a business or sole trader to a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. Broadly, the fulfillment modes, based on the relationship between the order receipt and production, are as follows: * Digital copy – Where products are digital and inventory is maintained with a single digital master. Copies are made on demand in real time and instantly delivered to customers. * Build to stock – Where products are built and stocked in anticipation of demand. Most products for the consumer would fall into this category *Build to order – Where products are built based on orders received. This is most prevalent for custom parts where the designs are known beforehand. * Configure-to-order – Where products are configured or assembled to meet unique customer requirements, e.g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired except for limited liability company. The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. A distinction is made in law and public offices between the term business and a company (such as a corporation or cooperative). Colloquially, the terms are used interchangeably. Corporations are distinct from sole proprietors and partnerships. Corporations are separate and unique legal entities from their shareholders; as such they provide limited liability for their owners and members. Cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production And Manufacturing
Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a statistic, gross domestic product * Production line Arts, entertainment, and media * Production, the act or role of assembling, crafting, creating, or presenting, a work of art, or the work of art itself. Motion pictures * Production, film distributor of a company * Production, phase of filmmaking * Production, video production Other uses in arts, entertainment, and media * ''Production'' (album), by Mirwais, 2000 * Production, category of illusory magic trick * Production, phase of video games development * Production, Record producer's role * Production, theatrical performance Science and technology * Production, deployment environment where changes go "live" and users interact with it * Production (computer science), formal-gramm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
