Business

• Buffer inventory level is the inventory held to deal with uncertainty in customer demand or deliveries of supplies
• Productivity is the output measured against the input used to create it
• Lean production is a term for those techniques used by businesses to cut down on waste and therefore increase efficiency
• Kaizen is a Japanese term meaning in continuous improvement through the elimination of waste
• JUST IN TIME is a production method that involves reducing or virtually eliminating the need to hold inventories of raw materials of the finished product