Chapter 13: supply chains and supply chain management – Flashcards
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the connected chain fo all the business entities, both internal and external to the company, that perform or support the logistics
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supply chain
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a management sysem that coordintaes and integrates all of the activities performed by supply chain members into a seamless provvess, from the source to the point of consumption, resulting in enganced customer and economic value
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supply chain management
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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 agility
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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 an effort to satisfy the customer
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supply chain integration
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a supply chain operational phillosophy focused on integrating the supply management and demand generating functions of an organization
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demand supply integration (DSI)
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bundles of interconnected activities that stretch across firms in the supply chain
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business process
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allows companies to prioritize their marketing focus on different customer groups according to each groups long term value to the company or supply chain
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customer relationship management (CRM) 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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customer service 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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demand management process
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a highly integrrated process, often requiring person 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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order fulfillment process
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concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process
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manufacturing flow management process
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supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers
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supplier relationship management process
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included the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms
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product development and commercialization process
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enables firms to manage volumes of returned product efficiently while minimizing returns related costs and maximizing the value of the returned assets to the firms in the supply chain
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return management process
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an entire group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer
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supply chain team
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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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inventory control sytem
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a situation where a customer demand for an inventory item goes unfulfilled because the requested item is unavailable at the needed time and place
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stockout
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inventory held temporarily for the purpose of fulfilling predicted demand in a period
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cycle stock
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extra inventory held in addition to cycle stock as insurance against unexpected demand increases
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safety (buffer) stock
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invenory that is currently moving within a transportiaion network to or from the companys facilities
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in-transit inventory
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materials inventory that is currently in the process of being converted into finished goods
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work-in-process inventoy
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an extra invenroey buffer that is held in response to predictable demand increases that occur annually
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seasonal inventory
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an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer
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materials requirement planing (MRP or materials management)
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an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer
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distribution resource planning (DRP)
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a real time inventory sysem that triggers shipments only when a good is sold to the end user
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automatic replenishment program
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a system whereby orders are entered into the supply chain and filled
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order processing system
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information technology that replaces the paper documents that usually accompany business trasactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduct inventory levels, improve cash flow, streamline operations, and increase the speed and accuracy of information transmission
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electronic data interchange
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an inventory handling and tracking ststem that employs radio frequency electromagnetic fields to transfer and read product data via an electronic tag
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smart RFID (radio frequency identification)
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a production method whereby products are made in advance of demand based on forecasts and are stored until customer orders arrive
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build to stock
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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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mass customization (build to order)
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a hybrid production method whereby basic units of a finished good are manufactured in advance of actual demand and held in strategic form or location until demand occurs, when final customization takes place
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postponement
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a method of moving inventory into, within, and out of a warehouse
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materials handling system
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the link that connects all the logistics functions of the supply chain
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logistics information system
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a supply chain management philosophy that embraces the need to optimizing social and environmental costs in addition to financial costs
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sustainable supply chain management
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efforts made by companies to protect their in transit inventory or value transforming assets from external or internal threats
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supply chain security
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the ability of a supply chain to return to its ideal operational state after being disrupted
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supply chain resiliency
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a distribution technique that includes any kind of product or servie that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals
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electronic distribution
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the creation the three dimensional objects via and additive manufacuring technology that layers raw matierials into desired shapes
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three dimensional printing
