Terms\ Just-in-time (JIT) inventory\ Activity-based costing (ABC)\ Total quality management (TQM)\ Research and development, and product design\ Service industries\ \ Service industries\ .\ Descriptions\ Inventory system in which goods are manufactured or purchased just as they are needed for use.\ A method of allocating overhead based on each product's use of activities in making the product.\ Systems that are especially important to firms adoptingjust-in-time inventory methods.\ One part of the value chain for a manufacturing company.\ The North American economy is trending toward this.\ A performance-measurement approach that uses both financial and non-financial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion.

Terms 1. Just-in-time (JIT) inventory 2. Activity-based costing (ABC) 3. Total quality management (TQM) 4. Research and development, and product design 5. Service industries 6. Balancedscorecard Descriptions Inventory system in which goods are manufactured or purchased just as they are needed for use. A method of allocating overhead based on each product's use of activities in making the product. Systems that are especially important to firms adoptingjust-in-time inventory methods. One part of the value chain for a manufacturing company. The North American economy is trending toward this. A performance-measurement approach that uses both financial and non-financial measures, tied to company objectives, to evaluate a company's operations in an integrated fashion