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Machine Downtimes
Time during which a machine cannot be utilized. Machine
downtimes may occur during breakdowns, maintenance,
changeovers, etc.
Macro environment
The environment external to a business including
technological, economic, natural, and regulatory forces that
marketing efforts cannot control.
Maintenance, Repair, and Operating supplies (MRO)
Items used in support of general operations and
maintenance such as maintenance supplies, spare parts, and
consumables used in the manufacturing process and supporting
operations.
Major carrier
A for-hire certificated air carrier that has annual
operating revenues of $1 billion or more: the carrier usually
operates between major population centers.
Make-or-buy decision
The act of deciding whether to produce an item internally
or buy it from an outside supplier. Factors to consider in the
decision include costs, capacity availability, proprietary
and/or specialized knowledge, quality considerations,skill
requirements, volume, and timing.
Make-to-Stock (Manufacture-to-stock)
A manufacturing process strategy where finished product is
continually held in plant or warehouse inventory to fulfill
expected incoming orders or releases based on a forecast.
Manifest
A document which describes individual orders contained
within a shipment.
Manufacturing Resource Planning (MRP II)
A method for the effective planning of all resources of a
manufacturing company. Ideally, it addresses operational
planning in units, financial planning in dollars, and has a
simulation capability to answer what-if questions. It is made
up of a variety of processes, each linked together: business
planning, production planning (sales and operations planning),
master production scheduling, material requirements planning,
capacity requirements planning, and the execution support
systems for capacity and material. Output from these systems
is integrated with financial reports such as the business
plan, purchase commitment report, shipping budget, and
inventory projections in dollars. Manufacturing resource
planning is a direct outgrowth and extension of closed-loop
MRP
Marine insurance
Insurance to protect against cargo loss and damage when
shipping by water transportation.
Master Production Schedule (MPS)
The master level or top level schedule used to set the
production plan in a manufacturing facility.
Materials Management
Inbound logistics from suppliers through the production
process. The movement and management of materials and products
from procurement through production.
Materials Requirements Planning (MRP)
A decision-making methodology used to determine the timing
and quantities of materials to purchase.
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