PROCESS Definition

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PROCESS is to subject to a process or treatment, with the end result being to ready for some purpose, improving, or remedying a condition, e.g. a manufacturing process or a sales order booking process.

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SEPARABLE COSTS are all costs (manufacturing, marketing, distribution, etc.) incurred beyond the split-off point that are assignable to one or more individual products.

SAFETY STOCK (SS) or security stock ensures that the item is available up to the pre-defined required service level, even when the re-ordered material arrives later then expected, or the fluctuations in demand during the lead-time cause the demand to be larger then expected. See also STOCK RESERVE.

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