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8.1: Build Your Vocabulary
Write a definition for each of the following terms and add it to your personal glossary.
operations management
conversion
materials processing
division of labor
mass production
custom manufacturing
production process
sourcing
supplier
inventory
inventory management
direct materials inventory
work in process inventory
finished goods inventory
perpetual inventory-control system
electronic data interchange (EDI)
periodic inventory-control system
inventory shrinkage
just-in-time (JIT) inventory-control system
quality control
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