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A process to improve system throughput by identifying and optimizing the system constraint (bottleneck). Steps are: 1) Identify the constraint, 2) Exploit the constraint, 3) Subordinate everything else, 4) Elevate the constraint, 5) Repeat the process.

Scheduling system for production control in TOC. The Drum sets the pace at the constraint, the Buffer protects the constraint from disruption, and the Rope synchronizes the release of material to the system.

In the context of the Theory of Constraints, inventory refers to all the money that the system has invested in purchasing things it intends to sell. Lowering inventory directly increases Return on Investment (ROI) by decreasing Investment.

A set of tools within TOC used to systematically understand cause-and-effect relationships, solve system problems, and implement solutions. Example tools include the Current Reality Tree and the Future Reality Tree.

Throughput is the rate at which the system generates money through sales. It's an important measure in the Theory of Constraints used to evaluate the system's performance.

Operational Expense is all the money the system spends turning inventory into throughput. The Theory of Constraints focuses on increasing throughput whilie minimizing operational expenses.