Supply Chain Management Flashcards by Kchianna Coronel

Q

Refers to a subset of supply chain management

A

Material Management

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Q

The sequence of events (linkages) that help a commodity move from manufacturing to market (e.g. people, equipment, transportation modes, and technology)

A

Supply Chain Management

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Q

T or F: Clinical laboratory test orders depend on the volume of patients, the types, and frequencies of requested lab tests

A

True

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Q

A category of supply chain management that’s all about speed and cost-cutting

A

Efficiency Category

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Q

A category of supply chain management where manufacturers produce various products for many industries

A

Responsive Category

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Q

Model of the Supply Chain Management:

→ offers stability in high-demand situations (product variation is very little)
→ the market doesn’t change very often—production is predictable
→ one of the most traditional models
→ e.g. Pepsi Corporation

A

Continuous Flow Model

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Q

Model of the Supply Chain Management:

→ manufacturing products that are trendy with short life cycles
→ products change quickly before the trends end (e.g. seasonal offers)
→ e.g. Nike

A

Fast Chain Model

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Q

Model of the Supply Chain Management:

→ best for businesses that are very competitive in markets
→ develops products relatively similar to its competitors and sells it to the same market as their rivals
→ e.g. General Mills (cereal brand)

A

Efficient Chain Model

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Q

Model of the Supply Chain Management:

→ produces specific products that cater to the various needs of the client
→ should have specific instructions from the clients before placing the order
→ combination of the agile and continuous flow model (hybrid model)
→ deals with downstream processes (distribution of goods)
→ e.g. LL Bean (backpacks)

A

Custom Configured Model

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Q

Model of the Supply Chain Management:

→ ideal for specialty-order items
→ the process is continuous and quick no matter if production processes and trends are good or bad
→ components include: virtual integration, process alignment, a network base, and market sensitivity
→ e.g. Zara

A

Agile Model

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Q

Model of the Supply Chain Management:

→ gives the business the ability to meet the demands during high peaks for prolonged periods of time
→ able to cope up with the variability in client preferences
→ components include: part segmentation, accurate stocking algorithms, and flexible planning
→ e.g. staplers, paper, writing materials, etc.

A

Flexible Model

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Q

The three models under the Efficiency Category

A

Continuous Model
Fast Chain Model
Efficient Chain Model

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Q

The three models under the Responsive Category

A

Custom Configured Model
Agile Model
Flexible Model

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Q

Refers to getting the finished product from the manufacturer to the consumer

A

Distribution Channels

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Q

HMO stands for?

A

Health Maintenance Organization

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Q

IDN stands for?

A

Integrated Delivery Network

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Q

T or F: It is cost-efficient to invest in information systems

A

True

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Q

T or F: More humans involved in the system means less potential errors

A

False (more humans = more room for error)

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Q

Refers to the movement, storage, flow of goods, services, and information within the supply chain

A

Logistics Supply Chain

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Q

A concept describing the full chain of business activities in the creation of a product or service—from production to the market and everything in between

A

Value Chain

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Q

Refers to the actual physical amount of an item in stock

A

Quantity on Hand (QoH)

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Q

Refers to “QoH - reservations to the stock + any stock of orders on the way”

A

Available Stock

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Q

Is determined by reviewing the previous purchase history of each supply material coupled with an understanding of the time needed for new desired material to arrive on the correct time on a regular basis

A

Desired Quantity on Hand (DQoH)

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Q

Is determined by taking into account the usage and consumption rate of each supplied material

A

Reorder Point (ROP)

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Formula of Quantity to Order:

DQoH - QoH

LMIS stands for?

Logistics Management Information System

A system of records and reports (may be paper-based or electronics) used to aggregate, analyze, validate, and display data that can be used to make logistic decisions and manage the supply chains

Logistics Management Information System (LMIS)

LMIS digital tool that tracks product consumption

Dispensing or Point of Service (POS) Systems

LMIS digital tool that is used for reporting and visualizing data

Electronic LMIS

LMIS digital tool for inventory control

Warehouse Management Systems (WMS)

LMIS digital tool for product transportation

Fleeting Management Systems

LMIS digital tool for load and route planning

Distribution Planning Systems

LMIS digital tool that mainly manages core functions including finances, human resources, procurement, sales, and others

Enterprise Resource Planning Systems

Refers to a published invitation to suppliers to tender its bid during the procurement process

Contract Notice

Automates the entire procurement cycle from creating a purchase order document to finally receiving the goods and making the payment

Purchasing Software

Feature of purchasing softwares that validates recorded transactions

Audit Trails

Feature of purchasing softwares that keeps a vigil on all people associated with purchasing and making sure they adhere with terms and conditions

Compliance Management

Feature of purchasing softwares referring to legal documents that define the terms and conditions of purchase, agreed price, mode of payment, etc.

Contract Management

Feature of purchasing softwares that streamlines inventory levels

Inventory Management

Feature of purchasing softwares that strengthens and manages the relationship with the suppliers

Supplier Management

Feature of purchasing softwares that manage the supplier’s invoice unless they get complete payment for the goods dispatched

Invoice Processing

Feature of purchasing softwares where purchase orders and invite quotations come from multiple suppliers

Request for Quotation

Feature of purchasing softwares that manages a purchase catalog

Purchase Order

Feature of purchasing softwares that negotiates optimum price between the buyer and supplier

Sourcing Management

Feature of purchasing softwares that gains control over spending to make sure the agreed price is being followed

Spend Management

Feature of purchasing softwares that tracks expenditure and views the spending analytics through graphs and statistics

Spend Dashboard

Cloud-based software that enables finding, buying, and managing the spends on goods and services completely online

eProcurement Solutions

2 Activities of eProcurement Solutions

- Transactional - Strategic

Activity of eProcurement Solutions where tasks are performed regularly and contribute towards the smooth running of each function

Transactional Procurement Activities

Activity of eProcurement Solutions related to achieving the overall aims and objectives of the procurement function

Strategic Procurement Activities

An automated process across all supplier chains that speeds up logistics timelines and eliminates manual errors

Electronic Data Interchange (EDI)

A core function of supply chain management involving the planning and execution of supply chains to meet the material requirements of a company or organization

Materials Management

Type of material management that directly affects profits—the lower the amount of material used, the lower the cost of production and the more profit is delivered

Material Requirements Planning

What is another term for Material Requirements Planning?

JIT - Just In Time Strategies

Type of material management that should be done economically and on time

Purchasing

Type of material management that can include a range of goods being held including partially finished items, goods ready for sale, and those used in production

Inventory Control

Type of material management that requires materials to be distributed to different sites or production centers, each of which needs to be continuously supplied

Material Supply Management

Type of material management where good quality materials lead to good quality products

Quality Control

Refers to supplies stored at the very location where it will be used

Point of Use Inventory

LIMS stands for?

Laboratory Inventory Management Softwares

T or F: LIMS cannot support data input or import from Excel or third-party data systems

False (they can)

What LIMS is this? → global leader in laboratory information management systems → has over 3,000 customers with a 98% satisfaction rate → clients include: NIH, USDA, Pfizer, Hershey, Caterpillar, and Chevron

LabWare LIMS

What LIMS is this? → offers an all-in-one solution for all medical laboratory and diagnostics businesses → effectively handles lab, finance, patient, and B2B relationship operations from one platform → compliant with HIPAA & ISO

CrelioHealth for Diagnostics

What LIMS is this? → world’s leading lab productivity solution for small and medium-sized R&D organizations → manages the unique workflow of a laboratory

Quartzy

What LIMS is this? → trusted worldwide by labs and biorepositories since 1987 → has unparalleled accuracy, accessibility, and configurability → streamlines the workflow of facilities to efficiently request, ship, and assay sample inventory

Freezerworks

What LIMS is this? → accelerates life sciences R&D and promotes scientist collaboration without the heavy workload → produces faster therapeutic breakthroughs → centralizes and streamlines the R&D lifecycle—data acquisition and project documentation to inventory management and reporting

Genemod

What LIMS is this? → flexible, modern, and user-friendly LIMS utilized by research labs worldwide → supports CLIA and ISO 17025 → defines the lab storage framework by using a variety of location options: rooms, storage units, shelves, racks, boxes, and positions

Lockbox LIMS

What LIMS is this? → offers strong data security, complimentary unlimited tech support, instrument integrations, and many more to automate workflows → compliant with: ISO/IEC 17025:2017, GLP, 21 CFR Part 11, HIPAA, and many more

CloudLIMS

What LIMS is this? → specifically built to target the needs and challenges of the Healthcare Diagnostic Industry → manages suppliers, payments, purchases, stock at the management and department level, automatic stock consumption, and many more

Crelio Inventory

What LIMS is this? → a complete laboratory sample management software solution which virtually manages samples, sources, and storage

ItemTracker