MIDTERM EXAM II Flashcards
(115 cards)
1
Q
vendor
A
a supplier
2
Q
wholesaler
A
purchase goods in large amounts and at discounted prices
3
Q
dropshipper
A
a company that takes customer orders
4
Q
franchise
A
owns the rights to a company and the name
5
Q
last mile
A
between final inventory holding facility and end consumer
6
Q
planogram
A
a map of where every product goes on a retail store shelf
7
Q
vendor managed inventory (VMI)
A
vendors monitor inventory
8
Q
scan-based trading
A
inventory on retail store shelf is owned by supplier
9
Q
omni-channel retailing
A
unified shopping experience across platforms
10
Q
chargebacks
A
retailer fees for supplier failures
11
Q
the goal of waiting line management
A
balancing customer time and company costs
12
Q
3 parts of a waiting line system
A
input source, waiting line, service facility
13
Q
input source
A
might want service
14
Q
waiting line
A
wait for service
15
Q
service facility
A
receive service
16
Q
managerial considerations in a waiting line system
A
customers, waiting lines, employees, service facilities
17
Q
queue
A
line
18
Q
channel
A
line availability at each step
19
Q
phase
A
a single step in a process
20
Q
infinite population of customers
A
high or unlimited customer potential
21
Q
finite population of customers
A
limited customer capacity
22
Q
balking
A
customers discouraged by long lines
23
Q
reneging
A
customers frustration leads to line abandonment
24
Q
jockeying (line jumping)
A
customers switch lines for efficiency
25
arrival rate
lambda; number of customers arriving per unit of time
26
service rate
mu; number of customers that will be served per unit of time
27
percentage of time server is busy
rho; service utilization factor
28
average number of customers in line
n(l)
29
average amount of time a customer waits in line
t(l)
30
average number of customers in the system
n(s)
31
average amount of time a customer spends in the system
t(s)
32
probability there are "N" customers in the system
P(N)
33
probability the system is empty
P(0)
34
**multiple server queuing models**
35
supply chain integration
supply chain partners collaboration and coordinated
36
obstacles to integration
poor communication, unwillingness to share, and lack of trust
37
push system
inventory is "pushed" toward the consumer in anticipation of consumer demand
38
push system characteristics
- effective in stable high-demand scenarios
- customers expect immediate availability
- companies leverage quantity discount opportunities
- ideal for standardized, non-customized items
- susceptible to inventory obsolescence
- slow-selling items to high holding costs
- inaccurate forecasts lead to stockout or overstock
39
pull system
a system that is activated by consumer demand
40
pull system characteristics
- requires ready access to high raw materials inventory
- capable of producing customizable items
- vulnerable to sudden increases in demand
- inaccurate forecasts can disrupt production planning
41
costs of miscalculations
42
postponement
hybrid system blending push-pull elements
43
bullwhip effect
inventory grows upstream with stability
44
supply chain goal trade-offs
cost, quality, speed, and flexibility
45
causes of the bullwhip effect
order batching, forward buying, rationing, short gaming
46
order batching
infrequent large orders from suppliers
47
forward buying
customer purchases exceed immediate need; result of sales
48
rationing
partial inventory sent to customers
49
short gaming
customers order more than needed
50
lead time gaming example from lecture
padding the time for lateness; medical team example
51
5 methods for controlling the bullwhip effect
everyday low pricing (EDLP), VMI, information sharing, improve buyer-supplier relationships, practice lean manufacturing
52
everyday low pricing (EDLP)
steady low prices discourage bulk-buying
53
VMI
buyer-supplier inventory information sharing
54
information sharing
real-time supply chain visibility enables comprehensive track
55
improve buyer-supplier relationships
partnerships share supply chain duties
56
rocks and water analogy
rock represents supply chain weakness; water represents inventory
57
lean manufacturing
efficient, waste-minimizing production philosophy
58
quality at the source
employee-driven quality management culture
59
poka-yoke
error-prevention techniques in manufacturing
60
profit motivations
both revenue and cost opportunities
61
global brand strategy
global supply variation adaptation
62
outside operations and manufacturing partners (benefits)
speed, expertise, resource utilization, focus on core competencies
63
outside operations and manufacturing partners (risks)
quality control, intellectual property, business practices, loss of strategic flexibility
64
insourcing
local and same company
65
outsourcing
local and outside company
66
offshoring
abroad and same company
67
offshoring and outsourcing
abroad and outside company
68
near-sourcing
closer production to consumer location
69
contract manufacturers
outsourced production for another organization
70
electrical manufacturing services (EMS)
outsourced electronic good production industry
71
infrastructure
equipment and structures for logistics
72
longshoreman
a person that works at an ocean port
73
shipping ports
Long Beach and LA; Shanghai and Singapore
74
cargo shipping ports
Memphis, Alaska; Louisville (UPS)
75
port strategies
shipping alternatives: mexican ports
76
port operations
problems: US port to US port; jones act
77
jones act
regulates maritime commerce in the US; transported by US citizens only
78
customs and regulations considerations
customs agencies oversee trade compliance
79
customs-trade partnership against terrorism
US customs' import security initative
80
third-party logistics company
logistics service provider aiding efficiency; intermediary in item movement
81
freight forward
logistics coordinator arranges shipments effectively
82
custom house broker
customs clearance agents for efforts
83
free trade zone (FTZ)
logistics coordinator arranges shipments effectively
84
duty drawbacks
utilized when an item is imported and then re-exported
85
bonded warehouse
tariff-liable goods storage facility; up to 5 years
86
purpose of logistics documentation
transportation, financial, international shipments
87
transportation documentation
profit that cargo was received
88
financial documentation
goods received as per agreement, funds released
89
international shipment documentation
legal compliance verification, duty assessment
90
common logistics shipping documentation
bill of lading, packing list, commercial invoice, certificate of origin
91
bill of lading
shipper-carrier contract, receipt, ownership certificate
92
packing list
comprehensive shipment description document
93
commercial invoice
detailing shipment contents, parties, values
94
certificate of origin
confirming manufacturing country
95
performance metric
single measurement to evaluate performance
96
system of metrics
composite metrics for comprehensive evaluation
97
value of performance metrics
- good and bad
- unbiased system
- motivated good behavior
- manage from afar
- managing resources
- points to corrective action
- identify trends
98
common measurement pitfalls
- managers fail to use the data
- blind belief in institutional metrics
- measuring selectively
- utilizing too many metrics
99
managerial paralysis (analysis paralysis)
inundated with the overflow of data
100
key performance indicators (KPIs)
essential individual metrics for organization goals
101
KPI drill down
analyzing specific KPI details deeply
102
attributes of good metric
- measurable
- easily understood
- attainable
- strategically oriented
- easy to measure
- corrective actions
- cheater proof
103
consequences of poor metrics
- supply chain goals are not met
- poor output and bad decisions
- waste
- undesirable employee behaviors
- employee victimization
- decay in corporate culture
104
measurement system: three key attributes
effective, efficiency, and adaptability
105
supply chain operations reference (SCOR) model
a measurement tool; plan, source, make, deliver, return
106
supply chain analytics
- descriptive, diagnostic, predictive, prescriptive
- internet of things (IoT), supply chain optimization, cognitive analytics, supply chain modeling
107
supply chain mapping
comprehensive supply chain partner documentation
108
descriptive analytics
report past and/or present results of supply chain
109
diagnostic analytics
an attempt to explain why recent results may have occured
110
predictive analytics
forecasts probabilities for different supply chain outcomes
111
prescriptive analytics
provides recommendations for supply chain frameworks
112
internet of things (IoT)
interconnected network of physical objects
113
supply chain optimization
advanced analytics for inventory management
114
cognitive supply chain
high-speed, integrated supply chain management
115
supply chain modeling
supply chain process simulations for strategy testing
