Chapter 8 Flashcards
Study Chapter 8
Supply chain
The collection of companies and processes involved in moving a product from the suppliers of raw materials, to the suppliers of intermediate components, to final production, and ultimately, to the customers.
Vendor managed inventory
A business model in which the suppliers to a manufacture, (or retailer) manage the manufactures or retailers inventory levels based on preestablished service levels
Bullwhip effect
Large fluctuations in suppliers forecast caused by small fluctuations in demand for the end product and the need to create safety buffers
Supply chain analytics
The use of key performance indicators to monitor performance of the entire supply chain, including sourcing, planning, production, and distribution.
XML
A command that is inserted in a document in order to specify how information should be interpreted and used.
CRM
A corporate – level strategy designed to create and maintain lasting relationships with customers by concentrating on the downstream information flows through the introduction of reliable systems, processes, and procedures
Demand planning and forecasting
Forecast and plan anticipated demand for products
Safety stock planning
Assign optimal safety stock and target stock levels in all inventories in the supply network
Distribution planning
Optimize the allocation of available supply to meet demand
Supply network collaboration
Work with partners across the supply network to improve accuracy of demand forecast, reduce inventory buffers, increase the velocity of materials, and improve customer service
Materials management
Ensure that the materials required for production are available where needed when needed
Manufacturing execution
Support production processes taking into account capacity and material constraints
Order promising
Provide answers to customer relationship management queries regarding product availability, costs, and delivery times
Transportation execution
Manage logistics between company locations or from company to customers, taking into account transportation modes and constraints
Warehouse management
Support receiving, storing, and picking of goods and warehouse
