Category: Finance

Called a tornado diagram it is a graph that plots results of various assumptions on a final outcome in a sensitvity analysis test.

A correlation that is undesirable but remains undetected by statistical techniques. A non-random pattern.

A support centre that offers services to support other departments in an organisation.

An item that is ready and able to perform the intended service, often after a repair or overhaul.

A device to understand and improve production. 1. Cause and effect diagram, 2. check sheet data record, 3. control chart, 4. Flow chart, 5. histogram graph, 6. Pareto chart based on the

A transaction that serves no purpose and provides no benefit economically but it used for the purpose of tax evasion.

1. Time where goods are still effective and have not deteriorated. See storage life and expiration date. 2. The time an item is expected to stay in inventory counts. 3. Time in

Any document that is required for an item to clear customs. A bill of lading, commercial invoice, insurance certificate, origin certificate or packing list.

The calendar for a workshop or manufacturer that does not show weeknds and holidays and working days are numbered sequetially.

A time during which only some variables can be changed as time is short.

A loan that has a maturity period of 1 to 5 years.

The room where a compoany will display all of its products.

1. Communication. The ratio between all information sent to the usefil information that has been received.2. Quality control. The size of n experimental effect that is greater than the effect of an

Latin- without day. A meeting that has been indefinitely adjourned where no date has been made for a resumption.

A point or part of a system where there is no backup in case of failure. The whole system will become disabled.

The m aking of a work site unavailable due to disturbances such as fire or flood in surrounding areas all though the site may be unaffected.

The evaluation of the competency of an employee to do the skills required for a particular job.

1. The number of days or hours that a job is ahead of the schedule. 2. Used in CPM, critical path method, it is the difference in length of the path compared

The designation for a certain sized business in terms of employee number, annual turnover, value of assets for example.

The technique used in statistics that evens out small and short term irregularites in data.