Dictionary of Operations Management

Operations management refers to the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization. This dictionary of operations management provides the user with a comprehensive vocabulary of terms used in the production. It covers such aspects of the subject as production, operations, materials management and engineering. The main words are explained in simple English, and, where appropriate, examples are given to show how the words are used in context. Quotations are also given from various magazines and journals, which give an idea of how the terms are used in real life. This dictionary will be useful for under-graduate and post-graduate management students, administrators, business managers, production department and journalists.