Industry Terminology

Num A B C D E F G H I J K L M N O P Q R S T U V W




Wagner-Whitin Algorithm: A lot-sizing technique that dynamically evaluates ways of ordering to cover net requirements to optimize ordering strategy.


WAN: Wide Area Network: network with a geographical spread of more than a mile - often comprising connected LANs (q.v.).


Warehouse: Storage place for products. Principal warehouse activities include receipt of product, storage, shipment, and order picking.


Warehouse Management System (WMS): The systems used in effectively managing warehouse business processes and direct warehouse activities, including receiving, putaway, picking, shipping, and inventory cycle counts. Also includes support of radio-frequency communications, allowing real-time data transfer between the system and warehouse personnel. They also maximize space and minimize material handling by automating putaway processes.


Warranty Costs: Includes materials, labor, and problem diagnosis for products returned for repair or refurbishment.


Waste: 1) In Just- in-Time, any activity that does not add value to the good or service in the eyes of the consumer. 2) A by-product of a process or task with unique characteristics requiring special management control. Waste production can usually be planned and controlled. Scrap is typically not planned and may result from the same production run as waste.


Wave Picking: A method of selecting and sequencing picking lists to minimize the waiting time of the delivered material. Shipping orders may be picked in waves combined by a common product, common carrier or destination, and manufacturing orders in waves related to work centres.


Waybill: Document containing description of goods that are part of common carrier freight shipment. Show origin, destination, consignee/consignor, and amount charged. Copies travel with goods and are retained by originating/delivering agents. Used by carrier for internal record and control, especially during transit. Not a transportation contract.


Web Browser: A client application that fetches and displays web pages and other World Wide Web resources to the user.


Web-enabled: Applications that can be accessed by users over the Internet or an intranet with a standard Web browser.


Wedge: Interface for connecting scanning devices, mag- stripe readers, etc. to a computer terminal, PC, or POs terminal.


What-If Analysis: Evaluating alternatives by changing select variables in forecasts, plans, inventory levels, or other models and comparing results.


Wide Area Network (WAN): A data communications approach for linking computers distributed over a large geographic area.


WINS: Warehouse Information Network Standard, the EDI standard used in the warehouse industry and compatible with UCS.


WIP: Work In Progress


WIP Terminals: Work-in-process network terminals.


WMS: Warehouse Management System: software to manage inventories.


Workbench: A suite of integrated applications specifically designed for a particular role or function (e.g., a buyer's workbench, a store manager's workbench).


Workflow: The use of technology to connect business processes so that one event automatically leads to another; actions automatically trigger the sending of pre-determined messages to pre-determined individuals.


WTO: World Trade Organization: the only global international organization dealing with the rules of trade between nations.

Back to top

© Copyright 2005. Media Services, Calgary Board of Education. All rights reserved