Ch 13 Vocab Flashcards
(61 cards)
Connected chain of all of the business entities both internal and external to the company that perform or support the logistics function
Supply Chain
Management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value
Supply Chain Management (SCM)
An operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain
Supply Chain Agility
Manufacturer’s or supplier’s use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing
Outsourcing (Contract Logistics)
a firm that provides functional logistics services to others
Third Party Logistics Company (3PL)
reinstitutionalization of a business process from an outsource location/country back to the original location to gain economic advantage
Reshoring
transfer of an outsourced activity from a distant to a nearby country
Nearshoring
radio-frequency identification; a device that uses radio waves as a means of locating a piece of inventory within a confined geographic space
RFID
a system of management practices that are consistent with a “systems thinking” approachc
Supply Chain Orientation
Multiple firms or business functions in a supply chain coordinate, their activities and processes so that they are seamlessly linked to one another to satisfy the customer
Supply Chain Integration
Supply chain operational philosophy focused on integrating the supply-management and demand-generating functions of an organization
Demand Supply Integration (DSI)
Bundles of interconnected activities that stretch across firms in the supply chain
Business Processes
Allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain
Customer Relationship Management Process (CRM)
Presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced
Customer Service Management Process
Seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action before actual customer purchases
Demand Management Process
Method companies use to align production with demand by merging tactical and strategic planning methods across functional areas of the business
Sales and Operational Planning (S&OP)
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
Order Fulfillment Process
Time delay between the placement of a customer’s order and the customer’s receipt of that order
Order Cycle Time
Process concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multistage production process
Manufacturing Flow Management Process
Standardized form of component parts manufacturing designed so the parts are easily replaced or interchanged
Modular
Supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers
Supplier Relationship Management Process
Includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms
Product development and commercialization process
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
Returns management process
Supply chain management philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs
Sustainable supply chain management
