Marketing Final, Ch. 13 Supply Chain Management – Flashcards
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supply chain agility
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an operational strategy focused on inducing inventory velocity and operational flexibility simultaneously in the supply chain
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supply chain integration
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when multiple firms or business functions in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in effort to satisfy the customer.
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benefits of supply chain management
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- lower inv costs - lower transportation costs - warehousing costs - packaging costs
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supply chain flexibility
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- improved customer service - higher revenues
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demand supply integration (DSI)
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a supply chain operational philosophy focused on integrating the supply management and demand generating functions of an organization. Such as marketing, sales, or R/D synchrionized with the part of the business charged with fulfilling demand (purchasing, manufacturing, and logistics)
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main goal for supply chain companies
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the overall performance of the supply chain will be greater than the sum of it's parts
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what does DSI do?
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it enhances customer satisfaction by ensuring that, for example, salespeople make promises to customers that can actually be delivered on or that raw materials being purchased actually meet customer specifications before they are placed into the process
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relationship integration
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is the ability of two or more companies to develop social connections that serve to guide their interactions when working together. More specifically, relationship integration is the capability to develop and maintain a shared mental framework across companies that describes how they will collab on activities or projects so that the customer gains the maximum amount of total value possible from the supply chain
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measurement integration
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refelects the ide that performance assessments should be transparent and measurable across the borders of different firms and should also assess the performance of the supply chain as a whole while holding each individual firm or business unit accountable for meeting it's own goals
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tech and planning integration
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the creation and maintenance of IT systems that connect managers across the firms in the supply chain; it requires info hardware and software systems that can exchange info when needed between customers, suppliers, and internal operational areas of each supply chain partners
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material and service supplier integration
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competency that enables firms to offer long lasting, distinctive, value added offerings to those customers who represent the greatest value to the the firm or supply chain. Higher customer-integrated firms asses their own capabilities and then match them to customers whose desires they can meet and who offer large enough sales potential for the linkage to be profitable over the long-term
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business processes
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bundles of interconnected activities that stretch across firms in the supply chain
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CRM
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allows companies to prioritize their marketing focus on different customer groups according to each groups l/t value to the company supply chain
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customer service management process
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presents a multi-company, unified response system to the customer whenever complaints, concerns questions, or comments are voiced
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demand management process
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seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand related plans of action prior to actual customer purchasing behavior
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8 critical business processes within the supply chain:
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1. Customer Relationship management 2. Customer service management 3. demand management 4. order fulfillment 5. manufacturing flow management 6. Supplier relationship management 7. product development and commercialization 8. returns management
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order fulfillment process
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generating, filing, delivering, and providing on the spot service for customer orders. A highly integrated process often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time
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manufacturing flow management process
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leveraging capabilities to improve overall manufacturing output in terms of quality, delivery speed, and flexibility which all tie to profitability. concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products tjrough a multi-stage production process
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supplier relationship management process
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supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers
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product development and commercialization
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includes the group that facilitates the joint development and marketing of new offerings among a group of supply chin partner firms
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returns management process
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enables firms to manage volumes of returned product efficiency while minimizing returns-related costs and maximizing the value of returned assets to the firms in the supply chain
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logistics
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the process of strategically managing the efficient flow and storage of raw materials; in-process inv. and finished goods. from point of origin tom point of consumption
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supply chain team
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an entire group of individuals who orchestrate the movement of goods, services, and info from the source to the consumer
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inv control system
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a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturers or a customers demand
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materials required planning
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an inv control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer
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distribution resource planning
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an inv control system that manages the replenishment of goods from the manufactuers to the final consumer
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auto replenishment program
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a real time inv control system that triggers shipments only when a good is ordered from the final consumer
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order processing system
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a system where the orders are entered into the supply chain and filled
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electronic data inter-change
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IT that replaces the paper documents that usually accompany business transactions, such as purchase orders, and invoices, with electronic transmission of the needed info to reduce inv levels, improve cash flow, streamline ops, and increase speed and accuracy of info transmission
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build-to-stock
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production method whereby products are made in advance of demand based on forecasts and are stored until customer orders arrive
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mass-customization build to order
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a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications
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postponement
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a hybrid production method wherby basic units of a finished good are manufactured in advance of actual demand and are held in strategic form or location until demand occurs, when final customization takes place
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materials handling system
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a method of moving inv into, within, and out of the warehouse
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transportation
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- cost - transit time - reliability - capability - accessability - traceability
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transit time
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The total time a carrier has possession of goods, including the time required for pickup and delivery, handling, and movement between the point of origin and destination
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reliability
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the consistency with which the carrier delivers goods on time and in acceptable condition
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capability
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the ability of the carrier to provide the appropriate equipment and conditions for moving specific kinds of goods, such as those that must be transported in a controlled environment (under refrigeration)
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accessability
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a carrier's ability to move goods over a specific route or network
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traceability
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the relative ease with which a shipment can be located and transferred
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logistics info system
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the link that connects all major logistics functions of the supply chain; software for materials acquisition and handling, warehouse management and enterprise-wide solutions, data storage and integration in data warehouses, mobile communications, electronic data interchange, radio frequency identification chips,
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smart RFID
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an inv handling and tracking system that employs radio frequency electromagnetic fields to transfer and read product data via electronic tag
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outsourcing
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a manufactuers suppliers use of an independent third party to manage an entire function of the logistics system, such as transportation , warehousing, or order processing
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3rd part logistics
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a firm that provides functional logistic services to others
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4th party logistic companies
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a consulting org that assess anothers entire logistical service needs and provides integrated solutions often on drawing on multiple 3PL's for actual service
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offshoring
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the outsourcing biz process from one country to another for the purpose of gaining economic advantage
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nearshoring
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the transfer of an offshore activity from a distant or nearby country with lower labor costs like China or India
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supply chain risk
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any potential disruption that threatens the supply chain effiecient and effective ops such as Mexico or the Caribbean nations ensures low costs while reducing supply chain risk
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supply chain security
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seek to protect key inv and assets from damage, theft, and destruction
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supply chain resilience
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measures ensure that the supply chain is backed up and running as soon as possible in the event that disruption occurs
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electronic distribution
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any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber optic cables or through satalite transmissions of electronic signals. Companies like ETrade or Apple iTunes
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3D printing
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...
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sustainability supply chain management
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involves the integration of environmentally conscious thinking into all phases of the supply chain management processes. Such activities include green supply chain initiatives like env friendly materials sourcing; the design of products with consideration given to their env impact based on packaging, shipment and use; and end-life management for products including easy recycling and or clean disposal.
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Supply chain management is completely ________ driven.
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consumer
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The benefits of supply chain management include all of the following EXCEPT:
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more inv
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The key principle of supply chain management can be best summed up as ________ between multiple firms.
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collaboration
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________ integration involves an evaluation of the performance of the entire supply chain and the individual firms.
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measurement
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________ integration refers to the ability of companies to develop the social connections that will guide their interactions.
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relationship
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According to the customer relationship management process, firms should focus on ________ customers.
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higher-value
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The supply chain can respond to customer's questions or complaints through:
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customer service management
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The ________ process ensures that each part of the supply chain has enough resources to do its part.
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manufacturing flow management
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The demand management process seeks to align ________ and demand.
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supply
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The ________ process involves a reversed flow of goods, from customer to producer, within the supply chain.
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returns management
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Which of the following is NOT a logistical component of the supply chain?
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offering rebates
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The key goal of sourcing and procurement is to:
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reduce costs
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A motorcycle shop builds each motorcycle after a customer orders it. This is an example of:
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mass customization
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Which of the following is an example of electronic distribution?
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website that sells digital books
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A transportation firm decides to switch their fleet to hybrid engines and use recyclable materials for packing supplies. This is an example of:
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sustainable supply chain management
