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Key Industry Terms



Helpful Definitions



 

Below is a list of key industry terms. This is a partial list of key terms listed here as an aid to our clients.

Thank you for your interest in Exerve!

Industry Terms
  Key Terms
ABC Activity Based Costing
ABM Activity Based Management
ANOVA Analysis of Variance
AOQ Average Outgoing Quality
ASP Application Service Provider
B2B Business to Business
B2C Business to Consumer
BOM Bill of Materials
BTO Built to Order
CAD Computer Aided Design
CAM Computer Aided Manufacturing
CRM Customer Relationship Management
CTQ Critical to Quality
CTR Cycle Time Reduction
EDI Electronic Data Interchange
FG Finished Goods
FGI Finished Goods Inventory
FIFO First In First Out
GAAP Generally Accepted Accounting Principles
IFO Income From Operations
ISO International Standards Organization
IT Information Technology
JIT Just in Time
KPI Key Performance Indicator
LCL Less than Carload
LIFO Last In First Out
LSL Lower Specification Limit
LTL Less than Truckload
MAP Manufacturing Automation Protocol
MBO Management by Objective
MIS Management Information Systems
MRP Materials Requirements Planning
MSDS Material Safety Data Sheet
MTO Made to Order
NPV Net Present Value
OEM Original Equipment Manufacturer
ROA Return on Assets
ROI Return on Investment
ROP Re-Order Point
USL Upper Specification Limit
VMI Vendor Managed Inventory
WIP Work In Process
   

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"Exerve is an integral part of our team - making use of the CIO-service offering - growing and expanding our company and our capabilities. The quality and know-how provided by Exerve is by far superior to anything a typical smaller/mid-size company could expect from its own staff..."   more

Sr. Vice President Surgical Device Manufacturer

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