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Glossary
MAD
mean average distribution
mass customization
the high-volume production of products that can be tailored to customer specifications, while keeping costs down for the manufacturer
mass production
the large volume manufacture of standardized goods using specialized equipment and labor
master data
information describing characteristics, such as cost collectors, customers, or vendors
master route design
Creating a master route sets the groundwork for a transportation system. Creating an optimal network (though often carrier-ships and trucks must adapt and make alternate plans in excution mode), sets the stage for the best price performance transporation strategy. This incorporates mix-mode and multi-mode approaches such as rail versus truck and ship versus air; it also evaluates the pricing of different lanes.
matching rules
a system used to determine what type of supporting documents are needed for an invoice
material and capacity allocation
allocations are made against materials that are in short supply.
mean absolute deviation
used to forecast errors, track signals, etc. The average of absolute values of the deviations of observed values from an expected value
mean time between failures
the mean average time period between failures of equipment or machinery
memo account
non-monetary reference amounts are stored in a financial statement
merchandise and assortment planning
see inventory optimization
merchandise planning
in retail, it is a method that analyzes demand at an item level, which helps retailers understand demand based demographics, store locations, shelves, and product positioning in the retail channel
minimum and maximum formulas
used in inventory management, mininum and maximum formulas allow enterprise to calculate replenishment by percentage, ratio, etc. to better meet demand. For example, minumum and maximum formulas by percentage might indicate that 20 percent of the quantity to be replenished must be small, 50 percent must be medium, and 30 percent must be large. A minimum and maximum formula by ratio might use a replenishment ratio of 2:3:4, so if an order is placed for six units of product small, then there must be nine units of medium, and twelve units of large.
model
a combination of factors and methods required to anlayze one or more alternatives of a decision. TEC modesl include a hierarchy, definitions, priorities, rating methods, and other items used to compose a knowledge base of information about may different vendors or provider solutions
multilevel disaggregating
multilevel aggregation
multiprice promotions
in retail, multiprice promotions include buy one, and get one free; buy two, get one free etc.
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