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Work Order
A document setting out all terms and
conditions of a repair or alteration transaction.
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Work-In-Process
A term describing a partially
finished good awaiting completion.
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Workaround
A bypass of a recognized problem in
a system. A temporary fix that implies that a
genuine solution to the problem is needed.
Frequently, they are as creative as true
solutions, involving out-of-the-box thinking in
their creation. A workaround is not a
permanent solution and may eventually result
in system failure.
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World Trade Organization (WTO)
A global
international organization created in 1995 by
the General Agreement on Tariffs and Trade
(GATT) that deals with rules regarding trade
among countries.
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World Trade Organization-Agreement on Government Procurement (WTO-AGP)
A World
Trade Organization agreement that replaced
the General Agreement on Tariffs and Trade
(GATT) in 1996. It regulates the procurement
of goods and services by public bodies and
reduces trade barriers among member
nations.
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World-Class Manufacturing
The philosophy that
the achievement of excellence in all aspects
of market competition—such as the lowest
cost or fastest and best production of a good
or service—encompasses the practices of
international benchmarking, quality
management, continuous improvement, and
flexible work schedules.
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Write-off
The deletion from records of material
due to shortage or loss by any cause.
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WTO
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Yield
The earnings generated and realized on an
investment during a particular period of time.
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Zero Defects Standard
A quality management
philosophy that promotes an environment in
which perfection is strived for in all actions,
while conducting process improvement
actions to eliminate any and all gaps in
conformance to requirements.
