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Material flow management (MFM) is an economic focused method of analysis and reformation of goods production and subsequent waste through the lens of material flows, incorporating themes of sustainability and the theory of a circular economy. [1]
Materials management often gets overlooked, even though successful projects are a result of a successful blend of labour, materials and equipment management. When materials are tracked efficiently project time can be optimized, costs can be saved and quality can be maximized. [3] There is a lack of efficient materials management in capital and ...
Excelsior, or wood wool. Wood wool, known primarily as excelsior in North America, is a product made of wood slivers cut from logs. It is mainly used in packaging, for cooling pads in home evaporative cooling systems known as swamp coolers, for erosion control mats, and as a raw material for the production of other products such as bonded wood wool boards.
Bill of material – The best practice is to physically verify the bill of material either at the production site or by disassembling the product. Cycle count – The best practice is to determine why a cycle count that increases or decreases inventory has occurred. Find the root cause and correct the problem from occurring again.
Manufacturing Resource Planning or Management resource planning (or MRP2) - Around 1980, over-frequent changes in sales forecasts, entailing continual readjustments in production, as well as the unsuitability of the parameters fixed by the system, led MRP (Material Requirement Planning) to evolve into a new concept .
Sustainable Materials Management is a broad approach that overlaps and supplements many programs and concepts being adopted by governments and business around the world including zero waste, green chemistry, eco-labeling, sustainable supply-chain management, lean manufacturing, green procurement, the US EPA’s Design for the Environment ...
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.
Real business-cycle theory; S. Smihula waves; Strauss–Howe generational theory; T. Technology shock; W. Welfare cost of business cycles