Module 1 Flashcards
(29 cards)
Supply Chain Management
“The effective and efficient integration of the suppliers, manufacturers and transportation organizations, as well as the other parties responsible for collectively bringing products and services to market.
Procurement
“The branch of the supply chain responsible for acquiring materials, equipment, products and services”
Operation
“The branch of the supply chain responsible for making business processes effective and efficient”
Logistics.
“The branch of the supply chain responsible for developing the transportation itinerary and finding the appropriate transportation and storage partners to successfully navigate the flow of materials from the point of origin to the final destination”
Reverse Logistics.
“The branch of the supply chain responsible for the movement of products and packaging that flow backward in the supply chain”
Global Supply Chain Management.
“When suppliers, manufacturers, transportation companies, warehouse and distribution centers, retailers and other supply chain partners span across multiple countries and/or continents, those are considered global supply chains”
1st-Tier Suppliers
“A company’s direct suppliers; typically, a firm that directly provides goods and/or services to a company.
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2nd-Tier Suppliers
“A firm that provides goods and/or services to a company’s first-tier supplier.
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Downstream Supply Chain
“In a supply chain, the direction that points toward the end consumer.
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Upstream Supply chain
“In a supply chain, the direction that points toward the suppliers.
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SCM Flows
In order for supply chains to function and develop, three things must continuously flow:materials, money and information
Business Model
A company’s plan for how it will purchase items, transform the, deliver them and sell them in an effort to produce a profit.
Business Model- Basic Types
purchase and delivery.
inventory Visibility (Supply Chain Visibility)
The ability to see what is happening with inventory upstream and downstream in supply chain.
Profit
profit= Revenue- Cost
ROI (Return on Investment)
An economic measure that helps evaluate the return of an investment. In its most simple form, an ROI is a ratio of total profit to total investment.
Competitive
“Companies, and supply chains more specifically, are very often competing in four areas stated above. As a result, tracking performance in cost, quality, speed and flexibility is vital to knowing whether the company is meeting its goals in the present and working toward better performance in the future.
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Core Competencies .
The primary advantage a company has over its competitors. A core competency would be difficult, if not impossible, to replicate.
Value
Value is the ratio of “output purchased “ divided by “inputs used to purchase’ the product or service. Customers seek value .Value can be increased by giving the customer more for the same price or by giving them the same amount at a lower price.
productivity
The ratio of outputs to input. From a manufacturing perspective, companies seek to maximize the amount of outputs that can be produced and delivered to market, while minimizing the required inputs.
Primary Supply Chain Goals
“Effectiveness, efficiency and adaptability – The ultimate goal of supply chain management is to make high quality products and services in a timely fashion that meet the changing needs of the customer and do so in a way that utilizes as few resources as possible.
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even Types of Waste.
seven types of waste that threaten supply chain performance are: defects, overproduction,transportatio, motion, waiting inventory and over-processing.
Keys to Being a Successful Supply Chain Manager.
A) Satisfy needs of the customer.
B) Satisfy the needs of the company.
C) Be prepared for the future.
Supply Chain Strategy.
A) Understanding the product/service and the market’s desires.
B) Develop a business model.
C) Organizing the right group of supply chain partners.
