| A | B |
|---|
| Bottom line | A business’s net income; the decisive point. |
| Holding cost | The money it takes to keep inventory in stock. |
| Inputs | In the operations function—resources utilized. |
| Inventory | All the stock that a business has on hand. |
| Inventory control | Tracking the amount, the kind, and the value of inventory that a business has on hand. |
| Logistics | Refers to managing the flow of goods and services from production to consumption. |
| Operations | The day-to-day activities for continued business functioning. |
| Outputs | In the operations function - goods or services. |
| Purchasing | The buying of goods and services for a business. |
| Quality control | Ensuring the degree of excellence of a good or service. |
| Routing | The production activity that determines the sequence of the steps in the production process. |
| Scheduling | The production activity that establishes the timetable to be followed in production. |
| Timing | In the production process, determining when materials will arrive at a certain destination and how long they will stay there. |
