theory of constraints
The management philosophy that addresses the constraints faced by profit and non-profit organisations when achieving their goals, and its implications in terms of maximum efficiency of equipment, output of the supply chain and company profit.
Also called: principles of TOC, fundamentals of theory of constraints, fundamentals of TOC, TOC, principles of theory of constraints, theory of constraints paradigm, Theory of Constraints
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1Definition from ESCO, published by the European Commission. Source concept
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