Production of goods and services

• Productivity is the output measured against the inputs to create it.
• Buffer inventory level is the inventory held to deal with uncertainity in customer demand and deliveries of supplies.
• Lean production is a production system that aims to eliminate waste and improve efficiency.
• Kaizen is a Japanese term meaning 'continuous improvement' through the elimination of waste.
• Just in time is a production method which focuses on reducing or virtually eliminating the need to hold inventories.
• Job production is where a single product is made at a time.
• Batch production is where a quantity of one product is made, then a quantity of another item will be produced.
• Flow production is where large quantities of a product are produced in a continuous process. It is referred to as mass production.