SMART is an acronym that you can use to guide your goal setting.

To make sure your goals are clear and reachable, each one should be:

• Specific (simple, sensible, significant).
  
• Measurable (meaningful, motivating).
  
• Achievable (agreed, attainable).
  
• Relevant (reasonable, realistic and resourced, results-based).
  
• Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).

Its criteria are commonly attributed to Peter Drucker's Management by Objectives   concept. The first known use of the term occurs in the November 1981 issue of Management Review by George T. Doran. Since then, Professor Robert S. Rubin (Saint Louis University) wrote about SMART in an article for The Society for Industrial and Organizational Psychology.

SWOT analysis is a tool that identifies the strengths, weaknesses, opportunities and threats of an organization.

Specifically, SWOT is a basic, straightforward model that assesses what an organization can and cannot do, as well as its potential opportunities and threats.

The method of SWOT analysis is to take the information from an environmental analysis and separate it into internal (strengths and weaknesses) and external issues (opportunities and threats).

A safety note is a list of important safety measures, rules or regulations to follow in order to operate equipment safely.

A seller-generated document that authorizes sale of the specified item(s), issued after receipt of a customer's purchase order. A sales order usually implies that there will be no additional labour or material cost incurred for the sale, except where it is used to initiate a production process.

An order processing system captures order data from customer service employees or from customers directly, stores the data in a central database and sends order information to the accounting and shipping departments, if applicable. Order processing systems provide tracking data on orders and inventory for every step of the way.

When a company seeks a level of unit sales without referring to profit in order to boost volume or market share.

Scenario planning is identifying a specific set of uncertainties to make assumptions on what the future might be for a business, department or function. This is done by considering specific sets of uncertainties, different “realities” and scenarios of what potentially might happen.

Scope control means avoiding too many changes during a project. Without exercising scope control, the project will run off track and lose focus.

Term used to define the full scope of work that is expected in a project environment. The scope of work will be defined before a supplier is identified and a contract is issued. The scope of work document is used to measure the progress of the project. 

a methodology for managing software delivery that comes under the broader umbrella of agile project management. It provides a lightweight process framework that embraces iterative and incremental practices, helping organizations deliver working software more frequently.

Seasonality is another cyclic phenomenon that needs considera-tion. This is typically the case when the observations are daily, weekly, month-ly or quarterly, but within an annual cycle.

Sector of the economy that converts natural resources into goods

Also referred to as what-if, or simulation analysis. This is a technique in which key underlying calculation based assumptions are systematically applied to a set of data in order to determine how different values can affect the outcome and provide a set a comparable results.

Are contracts between service providers and customers that define the services provided, the metrics associated with these services, acceptable and unacceptable service levels, liabilities on the part of the service provider and the customer, and actions to be taken in specific circumstances.

A customer service standard is the specified level that is required in any interaction between any organisation and its customers. Customer service standards are based on expected levels of excellence, response time, accessibility, delivery time and commitment. All trade, commerce and business lead back to the customer, so it is essential that the company continuously strives to improve the level of service that they deliver

Set up in basic terms means the assembly of tools, work centres or whole production sites.

Teardown is used to refer to the process of disassembly – this can be for manufacturing plants, or work centres

A shareholder, commonly referred to as a stockholder, is any person, company, or institution that owns at least one share of a company’s stock. Because shareholders are a company's owners, they reap the benefits of the company's successes in the form of increased stock valuation. If the company does poorly and the price of its stock declines, however, shareholders can lose money.

The sharing of human and physical resources that would otherwise not be used to their fullest extent.

The length of time for which an item remains usable, fit for consumption, or saleable.

Shop Floor Control (SFC) is a method that can be use to schedule,report and track the progress on shop floor.

The area in a manufacturing facility where production is carried out, either by an automated system or by workers or a combination of both. The shop floor may include equipment, inventory and storage space.

Financing obtained for a short period, one month to 12 months.

Short-sea shipping is the movement of passengers and cargo, mostly along a coastline, but can also include inland rivers and lakes, without crossing an ocean.

It occurs when a retailer has fewer items in stock than in the inventory list due to clerical error, goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale.

Will assist in planning the warehouse space, the type of racking needed and the layout and ultimate dimensions of the warehouse.

Refers to the situation where a has clear intent buys from just one supplier, although there may be more than one supplier who is able to supply.

Is a business that maintains revenues, assets or a number of employees below a certain threshold.

Is a type of warehouse where the storage, fulfilment process and management are automated with AI.

The responsibility of an organization for the impacts of its decisions and activities (products, services and processes) on society and the environment, through transparent and ethical behaviour that:

• contributes to sustainable development, including health and welfare of society;
• takes account of the stakeholders’ expectations;
• is in compliance with the applicable law and consistent with international norms of behaviour; and
• is integrated throughout the organization and practiced in its relationships.

The ability of a social system function at a defined level of social wellbeing and harmony indefinitely.

A branch of economics that studies the relationship between the economy and social behavior.

Is a form of transport where space for goods is purchased on an ‘as required’ basis. This type of work exists in all modes with ships and aircraft vying for work to increase resource utilisation and train operating companies and road operators doing similarly.

Spot rate is the exchange rate that is being offered now, for an immediate transaction

Staging refers to a process of storing or holding inventory. Setting inventory aside and ‘holding it for another purpose such as put away or dispatch, means it has been ‘staged’ in a designated ‘staging area’. Hence, staging area is the space used for interim storage.

Stakeholders are parties who are impacted on by the activities of the company. Stakeholders can include shareholders, employees, suppliers, customers and external bodies who have an interest in the success of the company. Shareholders are required to manage the business effectively and look after the investment made by shareholders.

In a standard purchase order, the purchaser will, at a minimum, specify what products are being ordered, the quantity, the agreed price and delivery and payment terms. A purchase order may arise out of a past order, an advertisement or offer by the vendor, or the parties' negotiation as to the price and quantity.

Are such examples of existing contracts. 

When the data series have a constant mean (or average) and variance over time, this is known a stationarity. Stationarity exists if the data series were divided into several parts and the independent averages of the means and variances of each part were about equal.

a methodology used for measuring and controlling quality in manufacturing which has become the standard used by industry. Product and/or process measurements are collected in real-time during the manufacturing process. This data is plotted on a graph with predetermined control limits. Capacity of the process will determine the control limits whereas customers’ needs will determine the specification limits.

When a company maintains a stable pricing strategy.

Stereotyping is a way of thinking or a belief about a group of people that takes no notice of the individuality of each person.

a situation in which an item is out of stock.

An instance of movement, activity, or supply stopping or being stopped.

Strategic planning is the stated direction and scope of an organization over the long term, which matches its resources to its changing environment as to meet stakeholders’ expectations.