Intro to SCM Flashcards
(45 cards)
Supply Chain
Global network used to deliver products and services from raw materials to end customers through a flow of info, physical distribution, and cash
Service Industry
An organization that provides an intangible product
Supply Chain Management (SCM)
The design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, competitiveness, leveraging logistics, balancing supply and demand, and measuring global performance.
Upstream
Movement in the direction of the raw material supplier
Downstream
Movement in the direction of the end customer
3 Primary Flows in SC
- Flow of info
- Flow of cash
- Flow of materials/services
Value Chain Analysis
Examination of all links companies use to produce and deliver its products and services (End to End process)
Logistics
Subset of SC that controls the forwards and reverse movement, handling, and storage of goods between origin and distribution points
Risk Management
Identification, assessment, and prioritization of risks followed by application of resources to minimize, monitor, and control probability/impact of events
Bullwhip Effect
An extreme change in the supply position upstream generated by a small change in demand downstream
What causes the bullwhip effect?
Nature of communicating orders up the chain with the inherent transportation delays of moving product down the chain
Value
Something which customers are willing to pay for
Operations Management
Planning, scheduling, and control of activities that transform inputs into finished goods/services
Materials Management
Supports the complete cycle of material flow, from the purchase and internal control of materials to warehousing, shipping, and distribution
Customer Service
The ability of a company to address the needs, inquiries, and requests of customers
Demand Lead Time
The amount of time potential customers are willing to wait for the delivery of a good or service
Manufacturing Planning and Control (MPC)
Encompasses high-level planning, master scheduling, MRP, and execution control along with checks on available capacity.
Logistics
Responsible for incoming physical supply and outgoing physical distribution
Order Qualifiers
Competitive characteristics that a firm must exhibit to be a viable competitor in the marketplace
Order Winner
Competitive characteristics that cause a firm’s customers to choose that firm’s goods and services over those of its competitors
Corporate Social Responsibility
Voluntary efforts by a firm to balance the needs of the organization against those of society
Reason why product life cycles are shrinking
Order winners quickly become order qualifiers as competitors adopt them
Sustainability
Organizational focus on activities that provide present benefit without compromising the needs of future generations
UN Global Impact
Voluntary initiative whereby companies embrace, support, and enact a set core of values in the areas of human rights, labor standards, the environment, and anticorruption
