exam 1 re Flashcards
(25 cards)
Definition of supply chain
-Sequence of activities and organizations involved in producing goods/ services
-suppliers->manufacturer->distributor->customers
Definition of supply chain management
Coordination of supply chain to integrate supply and demand management
Trade offs
-Shipping directly vs indirectly
Directly -> more complex but
more control
Indirectly -> more focus on core
operation but less control
large vs small lot sizes(inventory).
Large ->quantity discount, lower
stock out risk but larger holding
costs
Small ->lower holding cost but
higher risk of stock out
Cross-docking vs warehousing
Cross-docking ->small cost and
time
Warehousing -> Increase holding
cost
Issues effecting supply chain
Societal
GDP, Globalization,sustainablity, infratructure, regulatory issues, security and risk
Business
Customer servis, human resources, organizational issues, thenology
Definition of logistics
Forward and reverse flow of goods, services, cash and information
Definition logistics management
Managing movement of goods, services, cash and information in a supply chain
Balanced score
revolves around strategy
financial performance->internal business process -> education and learning->customer service
Perrito law
Relatively few customers contribute to the most sales and profits
KPI
key performance indicators
Demand forecast accuracy
Perfect order fulfillment
Supply chain management cost
Gap analysis
Level of service compared to level of service expected by customers
Product life cycle
Introduction -> growth -> maturity -> decline
Y = demand, x = time
After sale support
calims,installation,warranty
Perfect order concept
Optimization of customer satisfaction through supply chain management
5 rights of customers
Right product, right place, right time, right condition and right cost
Omichanel considerations
combining online and instore wearhouse and fufilment. merging sales and operations
stouckouts
selling out of all stock
Purchasing duties
Find suppliers, make contracts, maintain database of suppliers,get good
purschasing Cycle
Requisition, select supplier , place order, monitor, receive
Centeralized vs decentalized purchasing
enteralized = one department does all
Decentalized = individual departments
Vender analysis vs supplier aduit
vendor= evaluate vendors in terms of price, quality, reputation and service
Supplier audit = means of keeping current on suppliers production
Supplier partnership
Fewer suppliers, long-term relationship, sharing information, cooperation in planning
Strategic partnering
Organizations that has complementary products or servies join for a strategic benefit
Metric vs non metric data
Numerical vs categorical
Orderfufillment subscriptions
ETO: engineer to order
MTO: make to order
ATO: assemble to order
MTS: make to stock
