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.