Chapter 1: 21st Century Supply Chains

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creative

companies need to be more _______ about how they recruit and retain workers

artificial intelligence, internet of things and blockchain

companies will continue to concern themselves with ongoing trends in the areas of:

economic value

focus is on economies of scale in product and service creation, and striving to achieve the lowest total landed cost

market value

focus on achieving economies of scope in product and/or service presentation

breadth

foreign manufacturing, office and retail sites, foreign suppliers and customers

spanning from end-to-end

from suppliers-suppliers on one end, through internal operations, and out to customers-customers on the other end

forward deployment

generally postponed until customer orders are received

diversity in work practices

global logistics operations must deal with significant _______ and various local operating environments

cultural variations

how consumers demand products and services must be set up to accommodate _______

postponement

hybrid of push and pull models

strategic sourcing

identifying and matching the sources of raw materials and components to manufacturers and distributors using the global market

combined postponement

in combination, manufacturing and time postponement involves keeping the basic products centralized and performing the final product customization at the destination distributor, rather than at the manufacturing site

efficiency and productivity

in the future the number of networked devices will increase enormously, boosting ___ and ____ in supply chain

smart sensors

in the supply chain, IoT devices could be ____ on manufacturing floors in order to efficiently manage planned and predicted maintenance work

-augmented reality -machine learning -artificial intelligence -internet of things -blockchain -everything as a service (XaaS) -warehouse robots -distributed inventory

innovations and technology in the supply chain

artificial intelligence

intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans

blockchain technology (distributed ledger)

it is a shared database creating a permanent transaction record that can be changed only with the permission of the other members of the network

labor shortages

logistics _____ will continue through 2019 and beyond. wages will continue to rise due to demand

warehouse managements systems, robotic vision systems, supply chain planning, supply chain visibility, and more

machine learning is applicable to a wide range of logistics like...

large, dynamic data sets

machine learning is especially useful for

machine learning and AI

many of the more innovative logistics technology enhancements have included _____ and it is expected that these will be applied much more extensively across the supply chain in 2019 and beyond

market and distribution strategy

market value is provided through

generated, analyzed, linked and patterned

masses of data are not only ____, but ___, ____ and _____

distributed inventory

means moving the product closer to the customer

relevancy value

means the right products and services (market value), at the right price (economic value), modified, sequenced, synchronized, and otherwise positioned in a manner that creates valuable segmental diversity (i.e distinctiveness)

SAP, Oracle

most common/widely used erp software packages

truly integrated

most existing supply chain organizations are not ______ or empowered

regional carriers, metro area couriers and other delivery options

moving inventory closer to the customer means it is possible to use ____ that aren't cost-effective on multi-day moves

offshoring

moving manufacturing and distribution operations to countries with favorable labor costs and tax laws

cost-cutting

must be balanced with the need to provide optimum levels of customer service and satisfaction

technical innovations

new ______ offer the opportunity to reduce this complexity

distributed inventory

new technology will likely become popular to implement _______, allowing smaller businesses to keep up with amazon

to maintain products in an uncommitted status as long as possible while building a sufficient quantity of "ready to customize" basic units

objective of manufacturing postponement

augmented reality

offers numerous assistive technologies to facilitate the everyday work of employees, particularly in the areas of logistics, manufacturing and warehousing

warehouse robots

omni channel fulfillment, escalating labor costs and increased access to process automation solutions are changing the way enterprises run their distribution and fulfillment centers

cloud-based SCM

one of the ways businesses might be able to save resources upfront. the cloud market will continue to grow as more businesses become less fearful

automating the recruiting process

online applications, pre-hire testing, on boarding, and increasing the quantity and quality of applicants for positions

warehouse automation

only a part of the solution to a company's fulfillment needs, and it is expected to only mitigate, not solve, labor imbalance

exchange of value, smart contracts, payments and tracking

other uses of bloackchain

minimize wrong inventory, expedited shipping costs and obsolete and markdown products

postponement can help

make-to-order, assemble-to-order, engineer-to-order

producing stock in response to actual demand

make-to-stock

producing stock on the basis on anticipated demand. Demand forecasting can be done via a variety of sophisticated techniques

responsive business model

pull model

anticipatory business model

push model

timely arrival and continuous inventory flow between supply chain partners

reduces dwell

time postponement (aka geographic or logistics postponement)

refers to a situation where a fully stocked inventory is maintained at one or only a few strategic locations

supply chain strategy

relevancy value is provided through

assembly postponement

relevant for companies with modular product design. having base materials in modules and flexible design, it is possible to construct various end-products from the modules in one kit

management control

reporting

innovative products

responsive supply chains are ideal for

robotics as a service (RaaS)

scale up warehouse robots services for peak times, and drop back when volumes return to normal

depth

second and third tier suppliers and customers

monitor and track stock

smart sensors can be used to closely ____ and ____ stock and the entire inventory to optimally plan future production

food and pharmaceutical safety

some of the first applications in the supply chain are targeted towards _____, tracking items to their source in case of a recall or as an anti-counterfeiting measure

postponement

strategies that provide the greatest opportunity for supply chain professionals to minimize the risks of stock outs and excess inventory by leaving the final configuration of a product to the last possible moment and moving those operations closer to the customer

strategic planning

strategy evaluation

efficient

supply chain and processes designed to minimize cost

responsive

supply chain designed to respond quickly to market demand

convenient product/service assortment choice

take-away from market value

a unique product/service bundle

take-away from relevancy value

high quality at a low price

takeaway from economic value

capacity crunch

the ______ will likely continue, forcing companies to find more ways to cut costs and avoid scaring off customers with rising prices

pace in change

the ________ in supply chain management continues to accelerate, and it's only going to get faster

low-value tasks

the ability of current generation of robots to work alongside humans while performing _____ that increase overall warehouse productivity is applicable across a broad range of industries

order fulfillment/service delivery

the ability to execute superior and stainable order-to-delivery performance and related essential services

demand planning responsiveness

the assessment of demand and strategic design to achieve maximum responsiveness to customer requirements

enterprise resource planning (erp)

the backbone of a company's logistical information system; an integrated database of current and historical data

at the lowest cost

the challenge for the logistics expert is to design a system that delivers a desired level of customer service ________

business logistics

the coordination of projected requirement, procurement, physical movement, and storage of components, parts, raw materials, and semi-finished and finished goods

customer relationship collaboration

the development and administration of relationships with customers to facilitate strategic information sharing, joint planning, and integrated operations

supplier relationship collaboration

the development and administration of relationships with suppliers to facilitate strategic information sharing, joint planning, and integrated operations

adaptable and scalable

the highly variable characteristics of today's e-commerce industry are causing retailers and distributors to seek out more ______ and ______ solutions

retool quickly enough

the labor shortage cannot be solved with automation in the short-run because companies simply cannot ____

bottleneck of goods

the lack of available drivers is rippling through the supply chain, causing a ______ that is delaying deliveries and prompting some companies to increase prices by as much as 20%

security within the supply chain

the need for ______ will likely continue to be addressed as AI and IoT grow in ubiquity

customer service

the output of the logistics system is

product/service development launch

the participation in product service development and lean launch

cash spin

the potential benefits of reducing assets across a supply chain. the concept is to reduce overall assets committed to supply chain performance

dwell time

the ratio of the time that an asset sits idle to the time required to satisfy its supply chain mission

life cycle support

the repair and support of products during their life cycle, including warranty, maintenance, and repair

reverse logistics

the return and disposition of inventories in a cost-effective and secure manner

machine learning

the scientific stud of algorithms and statistical models that computer systems use to perform a specific task without using explicit instructions relying on patterns and inference instead

manufacturing customization

the support of manufacturing strategy and facilitation of postponement throughout the supply chain

cash-to-cash conversion

the time required to convert raw material or inventory purchases into sales revenue

dell time minimization

to reduce dwell time, firms collaborating in a supply chain need to be willing to eliminate duplicate and non-value-added work

everything as a service (XaaS) model

today all types of supply chain tools including warehouse and inventory management systems, transportation management systems and shipping systems can be accessed as a service

technology-centric

transforming the supply chain from technology-enabled to ______

3PL

used to provide scalable, flexible space for the inventory, and to manage fulfillment operations

proactive and multi-faceted approach

using a _____ and ______ approach to recruiting and retention in tight labor markets

restock shelves

using distributed inventory, retailers can ____ in a better of course instead of days

shuttle systems and autonomous mobile robots (AMR)

warehouses are increasing adoption of automation such as ___ and _____ to meet the requirements of direct-to-customer fulfillment

hands-free picking with AR

wearable technology such as smart glasses, displayed all relevant information in the user's field of sight exactly when they need it so that picking tasks and barcode scanning can be done simultaneously

autonomous mobile robots (amr)

were built to optimize the order picking and fulfillment process, and they are particularly suitable for e-commerce

packaging postponement

when goods, that might be offered in different packages are not packaged until the last moment. this allows for storage of finished products unpacked, and minimize the risks of excessive stocks

labeling postponement

when product differentiation takes place only by putting the labels on the package. this is useful when companies use different markets

manufacturing postponement

where a standard or a base product is manufactured in sufficient quantities in order to realize economies of scale, while the finalization of some features of the product are delayed until after actual customer orders are received

explosion of e-commerce

with the _____, things are moving at internet speed in both B2C and B2B markets

promote career opportunities

working with universities and colleges to ______ available in supply chain management while helping prepare students to enter the industry

push model

-create forecast -create supply plan -buy materials to produce products -warehouse products -sell products to customers -deliver products to customers

enterprise operations

-customer relationship management -logistics -manufacturing -purchasing -inventory deployment

management control

-financial measurement: cost, asset management -customer service measurement -productivity measurement -quality measurement

enterprise integration and administration

-general administration -accounts receivable and payable -financial inventory accounting -general ledger -human resources

common ways companies do postponement

-manufacturing one order at a time -base modular construction of a product, ie design the product as a set of interdependent units or 'modules'

postponement strategies

-manufacturing postponement -assembly postponement -packaging postponement -labeling postponement -time (or geographic) postponement -combined postponement

transaction system

-order management -inventory assignment -order selection -shipping -pricing and invoicing -customer inquiry

enterprise integration and administration

-sales and operations planning (s&op), senior management tool to run the business -supply chain compliance, regulatory -supply chain visibility and event management, control towers

pull model

-sell products to customer -create supply plan -buy materials to produce products -manufacture products -deliver products to customer

strategic planning

-strategic alliance formulation -development and refinement of capabilities and opportunities -focused/profit-based customer service analysis

decision analysis

-vehicle routing and scheduling -inventory levels and management -network/facility location and integration -vertical integration vs. third-party/outsourcing

demand exceeds local supply

90% of global demand is not fully satisfied by local supply. global supply market offers more options

lower-level decision-making

AI can be used to automate ____ so that managers can concentrate on high-level decision-making

analyze the patterns of today's operations to predict the possible outcomes of tomorrow's scenarios

AI has the ability too..

robots, drones, vehicles or appliances

AI offers a wide range of products like ..... to facilitate logistical coordination and organization in warehouses

waiting for shipping times

B2B service organizations can have high priority parts available without....

supply chain strategy

channel and business organizational arrangement, based on acknowledged dependencies, and collaboration

hacker attack

IoT poses a threat of ______ with the number of connected devices, hence the security aspect will play an important role in the future

primary logistics activities

basic functions that have to be performed in any logistics system. These activities are all interrelated, and a change in one will likely create a ripple effect of change throughout the entire system

certify the origin of products

blockchain can also be used to ______ such as organic or non-go foods or conflict-free minerals

speed of implementation, cost of upgrades, and the overall lifecycle of the software

XaaS helps mitigate concerns with...

integration

______ of the overall business process creates value

risk and opportunity management

______ should span the entire supply chain, including supply chains of key partners

ability to reduce investment in inventory and related assets

a benefit of reducing dwell time and associated logistics cost

hub-and-spoke warehouse network

a centralized warehouse (hub) holds most of the inventory and is linked to a series of smaller decentralized and geographically dispersed warehouses (spokes) which hold only a small amount of inventory to support their local area in the immediate time frame

cash-to-cash conversion

a measure of how efficient your supply chain is at generating revenue

driverless trucks

a proposed long-term solution to the problem, but there are more practical solutions like increased pay, flexible schedules, benefits, etc

who is adding information to the chain

adapting blockchain to track physical objects in the supply chain will require knowing....

plan-source-make-deliver

all supply chains follow the basic model:

transportation

an area with growing labor shortages sue to the rapid growth in online shopping that is creating strong demand for delivery drivers

decision analysis

analytical tools

internet of things (IoT)

concerns optimally networked devices that know exactly what they have to do and when

supply chain volatility

consumers are increasingly price sensitive and less brand-loyal, resulting a permanent increase in _____

transaction system

day to day information flows

significantly longer

distance of typical order-to-delivery operations is _________ for global logistics compared to domestic logistics

e-commerce

distributed inventory was prompted by the desire to speed up delivery for ____ business

significantly more complex

documentation requirements for business transactions is _______

procurement and manufacturing strategy

economic value is provided through

functional products

efficient supply chains are ideal for

basic supply chain capabilities models

efficient, responsive

cost optimization

end-to-end supply chain ______ will remain critical in the future

customer of their suppliers, supplier to their customers

every link in the supply chain is a _____ and ____

enterprise planning and monitoring modules

facilitate the exchange of planning information


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