a customer order that cannot be filled from existing inventory but will be filled when inventory is replenished
backward pass
a means of determining the latest event times in a CPM/PERT network
balanced transportation model
a model in which supply equals demand
basic feasible solution
any solution in linear programming that satisfies the model constraints
basic variables
in a linear programming problem, variables that have values (other than zero) at a basic feasible solution point
Bayesian analysis
a method for altering marginal probabilities, given additional information; the altered probabilities are referred to as revised or posterior probabilities
Bernoulli process
a probability experiment that has the following properties: (1) each trial has two outcomes, (2) the probabilities remain constant, (3) the outcomes are independent, and (4) the number of trials is discrete
beta distribution
a probability distribution used in network analysis for determining activity times
binomial distribution
a probability distribution for experiments for which the Bernoulli properties hold
branch
in a network diagram, a line that represents the flow of items from one point (i.e., node) to another
branch and bound method
a solution approach whereby a total set of feasible solutions is partitioned into smaller subsets , which are then evaluated systematically; this technique is used extensively to solve integer programming problems
break-even analysis
the determination of the number of units that must be produced and sold to equate total revenue with total cost
break-even point
the volume of units that equates total revenue with total cost