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Discounts and allowances are reductions to a basic price of goods or services. They can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the list ...
Mass production, also known as flow production, series production, series manufacture, or continuous production, is the production of substantial amounts of standardized products in a constant flow, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods.
A model car, or toy car, is a miniature representation of an automobile. Other miniature motor vehicles, such as trucks, buses, or even ATVs, etc. are often included in this general category. Because many miniature vehicles were originally aimed at children as playthings, there is no precise difference between a model car and a toy car, yet the ...
An early example of large-scale software prototyping was the implementation of NYU's Ada/ED translator for the Ada programming language. [5] It was implemented in SETL with the intent of producing an executable semantic model for the Ada language, emphasizing clarity of design and user interface over speed and efficiency. The NYU Ada/ED system ...
System 1 is a bottom-up, fast, and implicit system of decision-making, while system 2 is a top-down, slow, and explicit system of decision-making. [76] System 1 includes simple heuristics in judgment and decision-making such as the affect heuristic, the availability heuristic, the familiarity heuristic, and the representativeness heuristic.
Industrial fermentation is the intentional use of fermentation in manufacturing processes. In addition to the mass production of fermented foods and drinks, industrial fermentation has widespread applications in chemical industry. Commodity chemicals, such as acetic acid, citric acid, and ethanol are made by fermentation. [1]
Hydrogen gas is produced by several industrial methods. Nearly all of the world's current supply of hydrogen is created from fossil fuels. [1] [2] : 1 Most hydrogen is gray hydrogen made through steam methane reforming. In this process, hydrogen is produced from a chemical reaction between steam and methane, the main component of natural gas.
Push–pull strategy. The original meaning of push and pull, as used in operations management, logistics and supply chain management. In the pull system production orders begin upon inventory reaching a certain level, while on the push system production begins based on demand (forecasted or actual demand). The CONWIP is a hybrid between a pure ...