Production
Important Vocabulary
- Subcontractor: Any company that provides goods or services for another one
- Component: Any of the pieces or parts that make up a product, machine, etc.
- Outsourcing or contracting out: Buying products or processed materials from other companies rather than manufacturing them
- Capacity: The (maximum) rate of output that can be achieved from a production process
- Plant: The buildings, machines, equipment, and other facilities used in the production process
- Location: The geographical situation of a factory or other facility
- Inventory: The stock of any item or resources used in an organization (including raw materials, parts, supplies, work in progress, and finished products)
- Lead time: The time needed to perform an activity (i.e. to manufacture or deliver something)
Extracted From:
MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (Second). Cambridge University Press.
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