Installation is the process of transferring computer programs, drivers, and plug ins to a computer.

JIT is a manufacturing strategy which aims at having component inventory arrive only moments before it needs to be consumed. Successful JIT operations have very fast manufacturing flow through, and very low work in process inventories. Process reliability is a must for successful JIT operations.

A cost methodology in which all of the costs associated with a specific project or manufactured product are recorded in a cost ledger over time, and totaled at the end of the project or manufacturing process.

A manufacturing facility which focuses on discrete - often specialized - and relatively small manufacturing runs. Job shops may handle smaller volumes, specialized raw materials or machine processes, or offer additional services that a larger factory might not be able to offer, because of economies of scale.

Lean manufacturing

Legacy systems refer in general, to computer programs written specifically for a single organizational function, before the days of integrated software or ERP systems. Legacy systems tend to be highly customized, somewhat difficult to maintain, and are strongest where administrative labor was replaced: payroll, accounts payable, accounts receivable [..]

A letter of credit is a financial document issued by the bank of a foreign buyer as a means of ensuring payment for a commercial transaction. The letter of credit make the buyer’s bank a guarantor, thus reducing the risk of payment default between the buyer and seller.

The total cost of a product from cradle to grave, starting with research and development expenses, including any and all maintenance costs, and ending with any landfill, disposal, or recycling costs. As environmental concerns increase, non -biodegradable products are likely going to require more and more special and more costly disposal costs.

LIFO is an acronym for "Last In First Out", normally associated with an inventory strategy. LIFO means that you always consume your most recently purchased raw materials first (which requires that the raw materials can be stored indefinitely without deteriorating). The normal advantages of LIFO are (a) the inventory is often easier to get [..]

The degree to which assets can be turned rapidly into cash. Financial instruments, like stock, can be turned into cash in a few minutes, and are more liquid than inventory, which can be turned into cash in a few days, which is more liquid than raw materials, which can be turned into cash in a few weeks, and so on.