Supply Chain Management (SCM) – Flashcards

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supply chain
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integrated network consisting of an organization, its suppliers, transportation companies, and brokers used to deliver goods and services to customers
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supply chain management
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process of working with suppliers and other partners in the supply chain; helps with managing the communication by improving procedures for delivery products and services
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3 Areas in a SCM System where Communication takes place
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product flow, information flow, and finances flow
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product flow
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managing the movement of goods all the way from suppliers to customers (including customer service and customer support)
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information flow
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overseeing order transmissions and delivery status updates throughout the order processing cycle
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finances flow
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handling credit terms, payment schedules, and consignment and title ownership agreements
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2 Main Technologies that play a Major ROle in a Modern SCM System
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internet and information technologies
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point-of-sale
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technology/ system companies use to scan what is being sold in order to collect data in real time
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