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Flashcards in MGT Deck (46)
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1
Q

First tier supplier

A

a firms direct customer, is the supplies to the manufactures

2
Q

Second Tier Supplier

A

a supplier’s suppliers and customer’s to customer, sent stuff to other suppliers

3
Q

3PLS

A

A company is pursuing a strategy when it hires an outside firm to handle most or all of its logistics. Doing so allows the company to focus on its core business without having to, say, maintain a fleet of trucks or keep abreast of ever-changing export regulations.

4
Q

4PLS

A

company fills a broader and often more managerial role than a 3PL provider. Rather than simply perform logistic services for a client, it —– company lines up multiple logistics providers to meet specific needs.

5
Q

Bullship

A

incurred an extra production. It is a chain affect. Creates a higher demand that can cost a lost of to money to the supply chain.

6
Q

Ethical and sustainable sourcing

A

Management discipline has come to include closer emphasis on ethical and sustainable sourcing, or purchasing from suppliers that are governed by environmental sustainability and social ethical practices.

7
Q

CRM customer Relationship manager

A

strategies regarding how to meet delivery due dates, how to successfully resolve customer complaints, hoe to communicate with customers and how to determine the logistics services required. From a supply chain management perspective, there customer activities take on added importance, since second-tier, third-tier, and end-product consumers are untimely dependent on the logistics outcomes at each stage within the supply chain

8
Q

Outsourcing

A

the process that occurs when a firm purchases materials or products instead of producing them in house

9
Q

offshoring

A

is the relocation, by a company, of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting.

10
Q

Right Shoring

A

the combining of on-shore, near-shore and far-shore operations into a single, flexible, low-cost approach to supply chain management.

11
Q

Benchmarking

A

copy other companies what are they doing well. They do this to reduce costs. They access to the information through suppliers external metrics.

12
Q

Theory of Constraints

A

: is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. There is always at least one constraint, and TOC uses a focusing process to identify the constraint and restructure the rest of the organization around it

13
Q

Buffer

A

is the level of inventory needed to maintain consistent production. It ensures that brief interruptions and fluctuations in non-constraints do not affect the constraint

14
Q

Make to Stock

A

firms that typically emphasize immediate delivery of off-the-shelf, standard goods at relatively low prices compared to the chase strategy. Lean time is short, you are forecasting to finish the product. Lean time is longer

15
Q

Make to Order

A

firms that make custom products based on orders from customers, resulting in long lead times and higher unit costs.

16
Q

Set Up

A

The activity required to change products on an assembly-line

17
Q

Set Up costs

A

the costs associated with setting up machines and equipment to produce batch of product.

18
Q

Promotional Pricing

A

The act of offering a lower price temporarily in order to enhance the effectiveness of product sales efforts to cost sensitive consumers

19
Q

Total Production System Toyota

A

The idea is to make the best use of an organization’s time, assets and people in all processes in order to optimize productivity. Also knows as JIT and lean production

20
Q

The seven Wastes (TIM WOOD)

A

Transportation, Inventory, Excess motion, waiting, overproduction, overprocessing and Defects (Errors)

21
Q

Lean

A

is a team based for of continues improvement that focuses on identifying and eliminate waste. Waste can be thought of as non value added activity from the viewpoint of the customer

22
Q

Six Sigma

A

a system that stresses a commitment by top management to enable a firm to identify customer expectations and excel in meeting and exceeding those expectations. A type of TQM method devise by Motorola

23
Q

CPFR Collaborative Planning, Forecasting and Replenishment

A

is a “business practice that combines the intelligence of multiple trading partners in the planning and fulfillment of customer demand

24
Q

Kaizen

A

: a Japanese word of continues improvement

25
Q

Continues Improvements

A

constantly seeking improvements in all processes. The cornerstone of TQM and six quality sigma

26
Q

ISO 9000

A

is a series of quality assurance standards established by the Int’l Standards Organization. Firms establish quality processes and policies. ISO Auditor verifies standards are met. Company processes–not output–is certified. Different series certify different quality aspects

27
Q

ISO 14000

A

a family of international standard for environmental management developed by the International Organization for Standardization (ISO)

28
Q

VMI Vendor Management Inventory

A

a progressive partner-based approach to controlling inventory and reducing supply chain costs. Customers provide information to the key suppliers, including historical usage, current inventory, levels, minimum and maximum stock levels, sales forecasting and upcoming partners, who then takes on responsibility and risk for planning, managing, and monitoring the replenishment of inventory. The supplier may even own the inventory until the product is sold.

29
Q

SKU (stock Keeping Units)

A

it is the smallest unit that can be offered for sale or counted as inventory

30
Q

SKU-l (Stock Keeping Units Location)

A

The number that said were the product is located

31
Q

D.C. Distribution Center

A

a warehouse that performs break-bulk activities and then forms outbound specific product assortments that are shipped to the customer.

32
Q

Capacity Planning

A

a hierarchical planning process that is used to determine the capacity needed for a specific production level

33
Q

MPS Master Production System

A

you keep adjusting it with time. What are we going to produce?

34
Q

MRP Material Requirements Planning

A

software system for managing their inventory. What materials do you need to complete MPS

35
Q

DRP Distribution Requirement Process

A

a time-phased finished goods inventory replenishment plan in a distribution network.

36
Q

Order Cycle Time

A

Short times and consistent is what the customer wants. All of the activities in the order cycle—order taking, inventory, warehouse picking, transportation will also be measured as internal metrics, But the customer is most concerned about the total time.

37
Q

Fill Rate

A

When a customer places an order, they would like the product to be available. When a product is not available, it is known as a “stock-out” –> Leads to a “back-order” or lost sale–both costly

38
Q

on time

A

When an order is received, the customer has an expectation (usually specific) about when the order will arrive.

39
Q

Procurement

A

is the acquisition of goods, services or works from an outside external source. It is favorable that the goods, services or works are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location

40
Q

The Perfect order Percentage

A
  • Everything is in stock
  • The order is picked accurately
  • The order arrives on time
  • There is no damage
41
Q

P.O.

A

A contract between a buyer and seller that specifies the items to be purchased, the price that will be paid for those items, and the date the items are to be delivered.” Is a legal contract. From buyer, is a control document that needs to be “signed and authorized” Typically done in triplicate

42
Q

RFQ Request for Quotations

A

a formal request for pricing from a supplier; commonly used when the purchasing requirements are clear.

43
Q

RFP Request for proposal

A

a formal request for a project or product proposal issued by the buyers to qualified suppliers

44
Q

International INCO Terms

A

a uniform set of rules created by the international chamber of commerce to simplify international transactions of goods with respect to shipping costs, risk and responsibilities of the buyer; seller and shipper

45
Q

SCOR Model

A

plan, source, make, delivery return

46
Q

Reverse Logistics

A

a unique form of inbound logistics where returned goods are properly disposed with an attempt to recover some of their original value.