The difference between a product’s final selling price and the costs involved in making the particular product. For a business to survive, the added value of a product or service must be more than the cost. Examples of the expertise which allows companies to make a profit in this way include innovative design, new production processes, efficient ordering and delivery processes, using new technologies or materials, or supplying complementary services.
A integrated network of devices that allow two-way automated communication between a utility smart meter (located at the customer site) and a utility company. Information allows both provider and customer access to real-time data about how much power is being used and at what time of the day. The system also communicates pricing and energy information from the utility company to the consumer.
In manufacturing environments that are subject to fluctuations of demand and supply the APS modules enable companies to better tune their production and distribution facilities to better meet the demands of customers.
Also referred to as Advanced Planning Engines, Advanced Planning Systems are a new generation of planning and scheduling tools, which unlike MRP II, includes constraint models that deal with both materials and capacity. These technologies can be applied along a continuum extending from short-term plant-floor scheduling to strategic planning of supply chains.
A structured method of defining and establishing the steps necessary to ensure that a product satisfies the customer. By moving quality efforts into planning and prevention, this multistage process identifies and anticipates potential problem areas.