Acetic Acid

A basic chemical building block, acetic acid is liquid at room temperature, and familiar in the home as vinegar. It is manufactured from methanol and used in a variety of applications including the foodstuffs industries, manufacture of paints, dyes and pharmaceuticals, and the production of PET.

Activity Based Costing

(ABC)

This costing method identifies and estimates the cost of each activity (including use of resources), and allocates costs to each product and service as a direct consumed cost. This enables companies to identify non value-add costs, the profitability for each product and service, and areas for process improvements.

Actuator

A motor for inducing movement in a mechanism or system. An electronic control system uses actuators to adjust a device or machine, for example, to open or close a valve.