MAR3203 – Flashcards
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Supply Chain Sequence
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Suppliers Suppliers'> Direct Suppliers>Producer>Distro>Consmer
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Supply Chain Management
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Management of materials, info., and finances.
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Inventory/Forecasting
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meeting demand requirements while managing costs
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Purchasing
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evaluating potential suppliers, supporting the needs of operations on purchased goods and services
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Suppliers
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monitoring supplier quality, on-time delivery, and flexibility; maintaining supplier relations
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Logistics/Transportation `
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deciding how to best move information and materials
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Council of Supply Chain Management Professionals
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The planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities ... also includes coordination with channel partners, which can be suppliers, intermediaries, third party service providers, and customers.
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Institute for Supply Management
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The design and management of seamless, value-added processes across organizational boundaries to meet the real needs of the end customer.
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Logistics and Supply Chain Management Society
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The coordinated set of techniques to plan and execute all steps in the global network used to acquire raw materials from vendors, transform them into finished goods, and deliver both goods and services to customers.
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Goal of Managing the Chain of Supplies
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Bring the product or service to the customer at the right time, in the right amount, at the right price.
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Order qualifiers
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Characteristics that customers perceive as minimum standards of acceptability to be considered as a potential purchase
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Order winners
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Characteristics of an organization's goods or services that cause it to be perceived as better than the competition
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Quality-based strategy
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Strategy that focuses on quality in all phases of an organization
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Time-based strategies
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Strategies that focus on the reduction of time needed to accomplish tasks
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Bullwhip Effect
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occurs when distorted product demand information passes from one entity to the next throughout the supply chain1
