Glossary

The reduction in actual quantities of items in stock, in process, or in transit. Common causes of loss include scrap, theft, deterioration, and evaporation.

In statistics, the standard deviation of a given probability distribution or a given set of data.

Indicates a well controlled process (within process limits ±3s from the center line in a control chart, and requirements/tolerance limits ±6s from the center line).

A map, or grid, of employee skill levels. Helpful in managing existing and desired skills for a role, team, department, or project.

See Stock-Keeping Unit (SKU).

In warehousing, the placement of products within a facility to increase picking efficiency and reduce handling costs.

A limited number of people functioning as a quality circle. See Quality Circle.

A goal setting method that incorporates Specific, Measureable, Achievable, Realistic, Timely (SMART) criteria to evaluate whether the goal is achieved.

A global association with a mission to advance mobility knowledge and solutions for the benefit of humanity. https://www.sae.org/

See Standard Operating Procedure (SOP).

See Sales and Operations Planning (S&OP).

See Statement of Work (SOW).

Unsolicited bulk messages, such as e-mails sent to multiple recipients who did not ask for them.