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Supply Chain and Operations Management Glossary (K)

Kaizen: a Japanese business philosophy meaning to seek continuous improvement.

kanban: WIP inventory control system developed at Toyota. A kanban (literally “action plate” in Japanese) is analogous to a recirculating internal PO. That is, when a unit is taken from inventory, a request is automatically generated to the supplier to provide another unit. It is a “pull” system, roughly equivalent to a base stock inventory system. The number of kanbans inserted into the system is essentially equivalent to the reorder point r.

kilogram:
 1000 grams. 2.2046 pounds. See SI units.

kit:
 a collection of components placed together, perhaps in a container, that tend to be used together. For example, one may have a standard repair kit for a repairman that contains the components that strike the best compromise of being most likely to be needed, cheap, complementary, and small. knot: 6,076 feet/hour.

About the Author: AJ Amjad Khanmohamed

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