Sprint is one timeboxed iteration of a continuous development cycle. Within a Sprint, the planned amount of work has to be completed by the team and made ready for review. The term is mainly used in Scrum Agile methodology but the somewhat basic idea of Kanban continuous delivery is also the essence of Sprint Scrum. -Yodiz

Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real-world are enhanced by computer-generated perceptual information, sometimes across multiple sensory modalities, including visual, auditory, haptic, somatosensory and olfactory. -Wikipedia

An autonomous robot is a robot that is designed and engineered to deal with its environment on its own, and work for extended periods of time without human intervention. Autonomous robots often have sophisticated features that can help them to understand their physical environment and automate parts of their maintenance and direction that used to be done by humans. -Techopedia

The full set of bidding documents a supplier is required to submit for a bid to be considered. This package may include drawings, models, timelines, charts, exceptions and pricing. -The Law Dictionary

Big data analytics is the use of advanced analytic techniques against very large, diverse data sets that include structured, semi-structured and unstructured data, from different sources, and in different sizes from terabytes to zettabytes. -IBM

A bill of materials (BOM) is an extensive list of raw materials, components, and assemblies required to construct, manufacture or repair a product or service. A bill of materials usually appears in a hierarchical format, with the highest level displaying the finished product and the bottom level showing individual components and materials. -Investopedia

Responsible for overseeing and managing the purchasing process of goods and services for industrial or manufacturing operations. An “engineering buyer,” often has detailed knowledge of industry tools, equipment, and supplies. -Randstad

CAD data exchange is a modality of technical data exchange used to translate data between different Computer-aided design (CAD) authoring systems or between CAD and other downstream CAx systems. Many companies use different CAD systems internally and exchange CAD data with suppliers, customers, and subcontractors. Transfer of data is necessary so that, for example, one organization can be developing a CAD model, while another performs analysis work on the same model; at the same time a third organization is responsible for manufacturing the product -Wikipedia

Software that identifies model-based design (MBD) data quality issues that impact downstream reuse for manufacturing, simulation, data exchange, and collaboration. CADIQ enables you to validate critical engineering processes including engineering change, revision control, and manufacturability. -ITI

A centralized database is a database that is located, stored, and maintained in a single location. This location is most often a central computer or database system, for example, a desktop or server CPU, or a mainframe computer. -Wikipedia

CNC is the automated control of machining tools and 3D printers by means of a computer. A CNC machine processes a piece of material to meet specifications by following a coded programmed instruction and without a manual operator -Wikipedia

Computer-aided design (CAD) is the use of computers (or workstations) to aid in the creation, modification, analysis, or optimization of a design. The CAD software is used to increase the productivity of the designer, improve the quality of design, improve communications through documentation, and to create a database for manufacturing. -Wikipedia

Computer-aided engineering (CAE) is the use of computer software to simulate performance in order to improve product designs or assist in the resolution of engineering problems for a wide range of industries. This includes simulation, validation and optimization of products, processes, and manufacturing tools. -Siemens

The use of software to control machine tools and related ones in the manufacturing of workpieces. CAM may also refer to the use of a computer to assist in all operations of a manufacturing plant, including planning, management, transportation and storage. CAM often refers to software that takes the geometric design authored with CAD software as input and outputs manufacturing instructions that are downloaded to automated equipment such as a computer numerically controlled (CNC) machine tool. -Wikipedia

Concept extraction is the technique of mining the most important topic of a document. In the e-commerce context, concept extraction can be used to identify what a shopping-related Web page is talking about. This is practically useful in applications like search relevance and product matching. -ScienceDirect

An Internet of Things connectivity management platform that enables enterprises to effectively manage connectivity on a global scale throughout the full device lifecycle. -Sdx central

A coordinate measuring machine is a device that measures the geometry of physical objects by sensing discrete points on the surface of the object with a probe. Various types of probes are used in CMMs, including mechanical, optical, laser, and white light -Wikipedia

The procedure used in response to a detected non-conformance and have determined the root cause to correct this from reoccurring. -Isixsigma

Customer relationship management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth. -Wikipedia

Cybersecurity refers to the body of technologies, processes, and practices designed to protect networks, devices, programs, and data from attack, damage, or unauthorized access. Cybersecurity may also be referred to as information technology security. -Digital Guardian

Data analytics (DA) is the process of examining data sets in order to draw conclusions about the information they contain utilizing qualitative and quantitative techniques and processes. Data is extracted and categorized to identify and analyze behavioral data and patterns. -SearchDataManagement

It establishes a framework for transfer and any changes to the design that the manufacturer must use when developing and then implementing this relationship between, for example, design engineers and manufacturing engineers. -Orthapaedic Specialty Metal Solutions

In a device to cloud communication model, the IoT device connects directly to an Internet cloud service like an application service provider to exchange data and control message traffic. This approach frequently takes advantage of existing communications mechanisms like traditional wired Ethernet or Wi-Fi connections to establish a connection between the device and the IP network, which ultimately connects to the cloud service. -Isecurion

Digital Manufacturing is the application of digital technologies as the means to plan, assess and operate a manufacturing system. Digital Manufacturing requires that the right information, is in the right place, at the right time, in the right format for the optimization of decisions and the efficient manufacture of a product. -Digital Manufacturing

Disruptive technology refers to any enhanced or completely new technology that replaces and disrupts an existing technology, rendering it obsolete. It is designed to succeed in a similar technology that is already in use. Disruptive technology applies to hardware, software, networks, and combined technologies. -Techopedia

Dynamic visualization simply refers to those representations that go beyond traditional static forms, such as printed media. The defining characteristics of dynamic visualization are animation, interaction, and real­time. A dynamic visualization is a mundane tool in several fields, such as geology, medical science, statistics and economics (especially in the form of visual data mining). -Markku Reunanen

E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning. -Wikipedia

Product data management (PDM) is the use of software to manage product data and process-related information in a single, central system to ensure data integrity, to streamline process workflows, and to facilitate configuration management. This information includes computer-aided design (CAD) data, models, parts information, manufacturing instructions, requirements, notes, and documents. The ideal PDM system is accessible by multiple applications and multiple teams across an organization and supports business-specific needs. -Siemens

Engineering changes management refer to the documentation of changes from the identification of the required change, through the planning and implementation of the change, and culminating with the closure of the issue. -Aligni

Engineering change order (ECO) is a documentation packet that outlines the proposed change, lists the product or part(s) that would be affected and requests review and approval from the individuals who would be impacted or charged with implementing the change. ECOs are used to make modifications to components, assemblies, associated documentation and other types of product information. -Arena

An engineering change request (ECR) describes an identified problem or suggested enhancement with a product. The ECR is used to record the discussion surrounding the issue, determine the affected parts, and evaluate the impact of the required changes. Once closed, the ECR persists as a permanent record to help tell the story of the development and evolution of a product. -Aligni

Enterprise asset management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset's lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information.[1] This covers the design, construction, commissioning, operations, maintenance and decommissioning or replacement of plant, equipment, and facilities. -Wikipedia

The enterprise information portal (EIP), also known as a business portal, is a concept for a Web site that serves as a single gateway to a company's information and knowledge base for employees and possibly for customers, business partners, and the general public as well. Access to enterprise portals is controlled through passwords and the data is protected behind a firewall. -SearchSAP

Enterprise resource planning (ERP) is the integrated management of main business processes, often in real-time and mediated by software and technology. ERP is usually referred to as a category of business management software — typically a suite of integrated applications—that an organization can use to collect, store, manage and interpret data from these many business activities. ERP provides an integrated and continuously updated view of core business processes using common databases maintained by a database management system. ERP systems track business resources—cash, raw materials, production capacity—and the status of business commitments: orders, purchase orders, and payroll. The applications that make up the system share data across various departments (manufacturing, purchasing, sales, accounting, etc.) that provide the data.ERP facilitates information flow between all business functions and manages connections to outside stakeholders. -Wikipedia

When a product of any kind is in the development stages – regardless of whether it is being designed for civilian or government (military or aerospace) use – it goes through several design iterations. When the design has been finalized and specifications for its manufacture finalized, the product must be manufactured for the first time using component parts designed for the purpose. The very first part (or assemblage of parts) to be manufactured is a “first article”. -Nel PreTech

A first article inspection (FAI) is a formal method of providing a reported measurement for a given manufacturing process. Both the supplier and purchaser perform the First Article on the ordered product. The evaluation method consists of comparing supplier and purchasers results from measuring the properties and geometry of an initial sample item against given specifications. -Wikipedia

Gage Repeatability and Reproducibility (Gage R & R) is a methodology used to define the amount of variation in the measurement data due to the measurement system. It then compares measurement variation to the total variability observed, consequently defining the capability of the measurement system. Measurement variation consists of two important factors, repeatability, and reproducibility. Repeatability is due to equipment variation and reproducibility is due to the inspector or operator variation. -Quality One

A government contractor is a company (privately owned or publicly traded but not a state-owned enterprise) – either for-profit or non-profit – that produces goods or services under contract for the government. -Wikipedia

Horizontal integration means networking between individual machines, items of equipment or production units. Vertical integration networks beyond traditional production hierarchy levels – from the sensor to the business level of the company. -Copadata

The industrial internet of things (IIoT) refers to the extension and use of the internet of things (IoT) in industrial sectors and applications. The industrial internet of things (IIoT) refers to interconnected sensors, instruments, and other devices networked together with computers' industrial applications, including manufacturing and energy management. This connectivity allows for data collection, exchange, and analysis, potentially facilitating improvements in productivity and efficiency as well as other economic benefits. The IIoT is an evolution of a distributed control system (DCS) that allows for a higher degree of automation by using cloud computing to refine and optimize the process controls. -Wikipedia

The use of any computers, storage, networking, and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data. Typically, IT is used in the context of enterprise operations as opposed to personal or entertainment technologies. -SearchDataCenter

An organized examination or formal evaluation exercise. In engineering activities inspection involves the measurements, tests, and gauges applied to certain characteristics in regard to an object or activity. The results are usually compared to specified requirements and standards for determining whether the item or activity is in line with these targets, often with a Standard Inspection Procedure in place to ensure consistent checking. Inspections are usually non-destructive. -Wikipedia

Provides instructions on how an inspection of a product is to take place. Inspection plans provide details about what characteristics must be tested to ensure the product meets specifications. An inspection plan contains inspection elements that represent the specific data that you want to collect and report on. It also contains information about when and how often you collect that data. -Business Dictionary & Oracle

A document that provides instructions on how an inspection of a product is to take place. Inspection plans provide details about what characteristics must be tested in order to ensure the quality of the product, as well as specific metrics and measurements that must be achieved in order for the product to be judged in compliance with standards. -Business Dictionary

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. Intellectual property encompasses two types of rights: industrial property rights (trademarks, patents, designations of origin, industrial designs and models) and copyright. -Wikipedia

Intelligent manufacturing (IM) means using the combined intelligence of people, processes, and machines, to impact the overall economics of manufacturing. Its purpose is to optimize manufacturing resources, improve business value and safety, and reduce waste – both on the floor and in back-office operations, all while meeting customer demands for delivery and quality. -Pyramid Solutions

The Internet of things (IoT) is the extension of Internet connectivity into physical devices and everyday objects. Embedded with electronics, Internet connectivity, and other forms of hardware (such as sensors), these devices can communicate and interact with others over the Internet, and they can be remotely monitored and controlled. -Wikipedia

A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves a warehouse or point of sale. -SearchERP

An internet of things gateway (IoT gateway) is a device that lets legacy industrial devices report data using the internet, participating in the internet of things concept, as well as enabling technologies or systems with disparate protocols interact with one another. An internet of things gateway allows a device to report data using its sensors to a remote location. -Techopedia

Just in time (JIT) inventory is a strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs. In other words, JIT inventory refers to an inventory management system with objectives of having inventory readily available to meet demand, but not to a point of excess where you must stockpile extra products. -Study.com

A manufacturing bill of materials (MBOM), also referred to as the manufacturing BOM, contains all the parts and assemblies required to build a complete and shippable product. MBOM is focused on the parts that are needed to manufacture a product. In addition to the parts list in an EBOM (engineering Bill of materials), the MBOM also includes information about how the parts relate to each other. -Wikipedia

Manufacturing Engineering is a branch of professional engineering that shares many common concepts and ideas with other fields of engineering such as mechanical, electrical and industrial engineering. Manufacturing engineering requires the ability to plan the practices of manufacturing; to research and to develop tools, processes, machines, and equipment; and to integrate the facilities and systems for producing quality products with the optimum expenditure of capital. -Wikipedia

Manufacturing execution systems (MES) are computerized systems used in manufacturing, to track and document the transformation of raw materials to finished goods. MES provides information that helps manufacturing decision-makers understand how current conditions on the plant floor can be optimized to improve production output. MES works in real-time to enable the control of multiple elements of the production process (e.g. inputs, personnel, machines, and support services). -Wikipedia

The systematic determination of the detailed methods by which workpieces or parts can be manufactured economically and competitively from initial stages (raw material form) to finished stages (desired form) -Hong-Chao Zhang Texas Tech University

The United States Defense Standards, often called Military Standard, (MIL-STD), or Military Specification (MIL-SPEC), are used to help achieve standardization objectives by the U.S. Department of Defense. Defense Standards are also used by other non-Defense government organizations, technical organizations, and industry. -Wing Government Contracts

The United States Defense Standards, often called Military Standard, (MIL-STD), or Military Specification (MIL-SPEC), are used to help achieve standardization objectives by the U.S. Department of Defense. Defense Standards are also used by other non-Defense government organizations, technical organizations, and industry. -Wing Government Contracts

An approach which is based upon the usage of software models in order to develop or specify an application or platform. -IGI Global

The production of a complete digital definition of a product within a 3D model. A product’s MBD includes a dataset comprising the model’s 3D geometry and annotations. -Quintana, Rivest, Pellerin, Venne, & Kheddouci, 2010 (with modification)

Model-based enterprise (MBE) is a term used in manufacturing, to describe a strategy where an annotated digital three-dimensional (3D) model of a product serves as the authoritative information source for all activities in that product's lifecycle. -Wikipedia

Model-Based Manufacturing (MBM): a production environment that uses the model created in the design process, eliminating the need to recreate the model and data to plan, produce, fabricate, assemble, inspect and certify products. -NIST MBx Workshop

Model-Based Quality (MBQ): the conformance of the physical product and process to the requirements of digital product definitions and process specifications using measurement planning, execution, and evaluation in combination with three-dimensional (3D) annotated models and associated data. -Workshop Report on MBx: Towards Defining the Components of the Model-Based Enterprise -NIST

Model-Based “x” or “MBx” is a designation used to represent the constituent components and disciplines of the model-based enterprise (MBE). -NIST MBx Workshop

The representation, often mathematical, of a process, concept, or operation of a system, often implemented by a computer program. -Dictionary.com

Numerical control, popularly known as the NC is very commonly used in the machine tools. Numerical control is defined as the form of programmable automation, in which the process is controlled by the number, letters, and symbols. In the case of the machine tools, this programmable automation is used for the operation of the machines. -Bright Hub Engineering

The hardware and software dedicated to detecting or causing changes in physical processes through direct monitoring and/or control of physical devices such as valves, pumps, etc. -Wikipedia

An original equipment manufacturer (OEM) makes equipment or components that are then marketed by its client, another manufacturer or a reseller, usually under that reseller's own name. An OEM may make complete devices or just certain components, either of which can then be configured by the reseller. -Inc.

Data on the manner in which a given substance or piece of equipment performs during actual use. -The free dictionary

Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. -Wikipedia

A collection of methods of uncertainty propagation for making qualitative and quantitative calculations in the face of uncertainties of various kinds. It is used to project partial information about random variables and other quantities through mathematical expressions. -Wikipedia

The systematic determination of methods and means to manufacture a part. It is a description of the production process and how the product will be produced. Process planning converts design information into the process steps and instructions to powerfully and effectively manufacture products. -Civil Service India & Science Direct

Drawings that detail the manufacturing and assembly of products. -Wikipedia

In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products. PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise. -Wikipedia

Product models are containers of the nominal geometry and any additional information needed for production and support. The additional data is defined as Product Manufacturing Information (PMI) and can include geometric dimensions and tolerances (GD&T), material specifications, component lists, process specifications, and inspection requirements. -Lubell, J., Chen, K., Frechette, S., Horst, J, & Huang, P., 2012

Product requirements are established in a product requirements document (PRD) and defines the value and purpose of a product or feature. It is written by the product manager to communicate what is being made, who it is for, and how it benefits the end-user. It is often confused with a market requirements document (MRD), but they are different. An MRD should be created before a PRD so you can document what the customer needs and wants from your product or service before you define the requirements. -Aha!

Product and manufacturing information, also abbreviated PMI, conveys non-geometric attributes in 3D computer-aided design (CAD) and Collaborative Product Development systems necessary for manufacturing product components and assemblies. PMI may include geometric dimensions and tolerances, 3D annotation (text) and dimensions, surface finish, and material specifications. PMI is used in conjunction with the 3D model within the model-based definition to allow for the elimination of 2D drawings for data set utilization. -Wikipedia

A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a contract binding on both parties. A purchase order sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. -Business dictionary

Quality assurance (QA) is any systematic process of determining whether a product or service meets specified requirements. QA establishes and maintains set requirements for developing or manufacturing reliable products. A quality assurance system is meant to increase customer confidence and a company's credibility, while also improving work processes and efficiency, and it enables a company to better compete with others. -Search Software Quality

A formal statement of promise (submitted usually in response to a request for quotation) by the potential supplier to supply the goods or services required by a buyer, at specified prices, and within a specified period. A quotation may also contain terms of sale and payment and warranties. Acceptance of quotation by the buyer constitutes an agreement binding on both parties. -Business dictionary

A Request for Quote (RFQ) typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process. RFQs include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service. Logically, the more detailed the specifications, the more accurate the quote will be and comparable to the other suppliers. -Wikipedia

Radio Frequency Identification (RFID) technology uses radio waves to identify people or objects. There is a device that reads the information contained in a wireless device or “tag” from a distance without making any physical contact or requiring a line of sight. -Homeland Security

Real-time data refers to data that is presented as it is acquired. -techopedia

An ongoing, systematic series of mechanical or chemical operations that produce or manufacture something. This is describing a current and active customer-supplier relationship. -Auburn University

A relational database is a type of database that stores and provides access to data points that are related to one another. Relational databases are based on the relational model, an intuitive, straightforward way of representing data in tables. In a relational database, each row in the table is a record with a unique ID called the key. The columns of the table hold attributes of the data, and each record usually has a value for each attribute, making it easy to establish the relationships among data points. -Oracle

A request for quote is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services. RFQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). An RFQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process. -Wikipedia (with modification)

Secure file transfer is data sharing via a secure, reliable delivery method. It is used to safeguard proprietary and personal data in transit and at rest. -Globalscape

The computer-based modeling of a real production system. Simulation allows organizations in the manufacturing industry to analyze and experiment with their processes in a virtual setting, reducing the time and cost requirements associated with physical testing. Inventory, assembly, transportation, and production can be assessed within a simulation model, resulting in information that can preserve or improve value at the lowest possible cost. -FlexSim

Small and medium-sized enterprises (SMEs) are non-subsidiary, independent firms which employ fewer than a given number of employees. This number varies across countries. The most frequent upper limit designating an SME is 250 employees, as in the European Union. However, some countries set the limit at 200 employees, while the United States considers SMEs to include firms with fewer than 500 employees. -Organization for Economic Co-operation and Development

Small and medium-sized manufacturers (SMMs) are non-subsidiary, independent firms which employ fewer than a given number of employees. This number varies across countries. The most frequent upper limit designating an SMM is 250 employees, as in the European Union. However, some countries set the limit at 200 employees, while the United States considers SMMs to include firms with fewer than 500 employees. -Organization for Economic Co-operation and Development (with modification)

STEP-File is the most widely used data exchange form of STEP. ISO 10303 can represent 3D objects in Computer-aided design and related information. Due to its ASCII structure, a STEP-file is easy to read, with typically one instance per line. -NPD Solutions

A supplier who provides goods, products or services to another supplier. -Definitions.net

A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor. -Business Dictionary

The term "supplier relationship management (SRM)" refers to the practice and process of interacting with suppliers. Most supply professionals view SRM as an organized approach to defining what they need and want from a supplier and establishing and managing the company-to-company (or procurement-to-sales) link to obtain these needs. Even when there is no conscious procurement-to-supplier's sales link, there still are practices and processes in play — informal as they might be. Formal or not, academic and consulting company research shows that organized approaches to supply and suppliers produce positive sourcing results. -Institute for Supply Management

Supply chain management is a total system approach to managing the entire flow of information, materials, and services from raw-material suppliers through factories and warehouses to the end customer. -Operations and Supply Chain Management Textbook

A technical description of an item adequate for supporting an acquisition strategy, production, engineering, and logistics support. The description defines the required design configuration and procedures to ensure the adequacy of item performance. It consists of all applicable technical data such as drawings, associated lists, specifications, standards, performance requirements, quality assurance provisions, and packaging details. -as defined in Ballistic Missile Defense by U.S. Department of Defense

A three-dimensional shape is a figure or an object or that has three dimensions – length, width and height. Unlike two-dimensional shapes, three-dimensional shapes have thickness or depth. -Splash math

Portable Document Format (PDF) is a file format used to present and exchange documents reliably, independent of software, hardware, or operating system. Invented by Adobe, PDF is now an open standard maintained by the International Organization for Standardization (ISO). PDFs can contain links and buttons, form fields, audio, video, and business logic. PDF allows for the embedding of three-dimensional (3D) objects. They can also be signed electronically and are easily viewed using free software. -Adobe (with modification)

Tooling, also known as machine tooling, is the process of acquiring the manufacturing components and machines needed for production. The common categories of machine tooling include fixtures, jigs, gauges, molds, dies, cutting equipment and patterns. -SearchERP

A transportation management system (TMS) is a subset of supply chain management (SCM) that deals with the planning, execution, and optimization of the physical movements of goods. In simpler terms, it's a logistics platform that enables users to manage and optimize the daily operations of their transportation fleets. -SearchERP

A two-dimensional object or figure is flat rather than solid so that only its length and width can be measured. -Collins dictionary

A user interface (UI) is a conduit between human and computer interaction – the space where a user will interact with a computer or machine to complete tasks. The purpose of a UI is to enable a user to effectively control a computer or machine they are interacting with, and for feedback to be received in order to communicate effective completion of tasks. -Every Interaction

The practice of developing and prototyping products in a completely digital 2D/3D environment. VPD typically takes place in a collaborative, web-based environment that brings together designers, customers/consumers, and value chain partners around a single source of real-time product "truth". VPD enables practitioners to arrive at the right idea more quickly and to accurately predict its performance in both manufacturing and retail settings, ultimately minimizing time to value market failure potential, and product development costs. -Wikipedia

Wearable technology is a category of electronic devices that can be worn as accessories, embedded in clothing, implanted in the user's body, or even tattooed on the skin. The devices are hands-free gadgets with practical uses, powered by microprocessors and enhanced with the ability to send and receive data via the Internet. -Investopedia

Work in progress (WIP) is a form of inventory, usually unfinished goods which still require further work, processing, assembly and or inspection. This type of inventory is usually found within steps or sub-processes of a production process. Only raw materials which have commenced to move through their value-adding processes can be classified as WIP. Raw materials which have still not been worked with are still classified as raw materials. -Lean Manufacture