1: Supply Chain Management

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Closed-loop supply chain

A manufacturer controls both the forward and reverse shipment of product.

make-to-order

A standard product design is used, but production of the final product is linked to the final customer's specifications

cross-docking

A technique whereby goods arriving at a warehouse from a supplier are unloaded from the supplier's truck and loaded onto outbound trucks, thereby avoiding warehouse storage.

Radio Frequency Identification (RFID)

A technology that uses radio waves to identify objects, such as goods in supply chains

strategic sourcing

Analyzing the procurement process to lower costs by reducing waste and non-value-added activities, increase profits, reduce risks, and improve supplier performance.

distribution strategy

Deciding whether to use centralized or decentralized distribution, and deciding whether to use the organization's own facilities and equipment for distribution or to use third-party logistics providers

network configuration

Determining the number and location of suppliers, warehouses, production/operations facilities, and distribution centers

measuring the supply chain ROI

Enables managers to incorporate economics into outsourcing and other decisions, giving them a rational basis for managing their supply chains.

vendor analysis

Evaluating the sources of supply in terms of price, quality, reputation, and service

product and service flow

Involves movement of goods and services from suppliers to customers as well as handling customer service needs and product returns

integrating IT

Produces real-time data that can enhance strategic planning and help businesses to control costs, measure quality and productivity, respond quickly to problems, and improve supply chain operations.

Delayed Differentiation

Production of standard components and subassemblies, which are held until late in the process to add differentiating features.

assemble-to-order

Products are assembled to customer specifications from a stock of standard and modular components

Disintermediation

Reducing one or more steps in a supply chain by cutting out one or more intermediaries

purchasing cycle

Series of steps that begin with a request for purchase and end with notification of shipment received in satisfactory condition.

vendor-managed inventory (VMI)

Vendors monitor goods and replenish retail inventories when supplies are low.

supplier certification

a detailed examination of the policies and capabilities of a supplier

responsive/ agile

a flexible supply chain that has the ability to quickly respond to changes in product requirements or volume of demand as well as adapt to supply chain disruptions

supply chain visibility

a major trading partner can connect to its supply chain to access data in real time

value chains

a term that reflects the concept that value is added as goods and services progress through the chain

supply chain strategy alignment

aligning supply and distribution strategies with organizational strategy and deciding on the degree to which outsourcing will be employed

inventories

are a key component of supply chain

supply chains

are lifeblood of any business organizations

supply chain managers

are people at various level of organization who are responsible for managing supply and demand both within and across business organizations

capacity planning

assessing long-term capacity needs, including when and how much will be needed and the degree of flexibility to incorporate

risk sharing

can mean contractual arrangements with supply chain partners that spread the risk

world class suppliers

certified suppliers are sometimes referred to as

receiving

checks incoming shipments of purchased items to determine whether quality, quantity, and timing objectives have been met, and it moves the good to temporary storage

avoidance

finding ways to minimize the number of items that are returned

lean supply chain

focuses on eliminating non-value-added activities to create an efficient, low-cost supply chain

business-to-business

growing portion of e-business

centralized purchasing

handled by one special department

data processing

handled by the accounting department, which keeps inventory records, check invoices, and monitors vendor performance

uncertainty and risk reduction

identifying potential sources of risk and deciding the amount of risk that is acceptable

flow management

important aspect of supply chain management

legal responsibilities

include being knowledgeable about laws and regulations of the countries where supply chain exist

ethical responsibility

include conducting business in ways that are consistent with the moral standards of society

economic responsibilities

include supplying product and services to meet demand as efficiently as possible

logistics management

includes management of inbound and outbound transportation, material handling, warehousing, inventory, order fulfilment and distribution, third-party logistics, and reverse logistics.

decentralized purchasing

individual departments or separate locations handle their own purchasing requirements

information technology

integrating systems and processes throughout the supply chain to share information including forecasts, inventory status, tracking of shipments, and events.

bullwhip effect

inventory oscillations become progressively larger looking backward through the supply chain

financial flow

involves credit terms, payments, and consignment and title ownership arrangements

risk management

involves identifying risks, assessing their likelihood of occurring and their potential impact, and then developing strategies for addressing those risks.

information flow

involves sharing forecast and sales data, transmitting orders, tracking shipments, and updating order status

Collaborative Planning, Forecasting, and Replenishment (CPFR)

is a contractual agreement used to achieve supply chain integration by cooperative management of inventory in the supply chain by major supply chain partners

recovery

is a function of the severity of the impact and the plans that are in place to cope with the event

location of inventories

is an important factor for effective material flow through the chain and for order fulfillment

ERP software

is an integrated system that provides for systemwide visibility of key activities and events in areas such as a supplier relationships, performance management, sales and order fulfilment, and customer relationships

greening the supply chain

is generating interest for a variety of reasons, including corporate responsibility, regulations, and public pressure.

accounting

is responsible for handling payments to suppliers and and must be notified promptly when goods are received in order to take advantage of possible discounts

managing the supply chain

is the process of planning, implementing, and controlling supply chain operations

reverse logistics

is the process of transporting returned items

demand chain

is the sales and distribution portion of the value chain

supply chain management

is the strategic coordination of business functions within a business organization and throughout its supply chain for the purpose of integrating supply and demand management.

third-party logistics

is the term used to described the outsourcing of logistics management

collaboration joint planning coordination

keys to supply chain success

operations

main source of requests for purchased materials, and close cooperation between these units and the purchasing department is vital if quality, quantity, and delivery goals are to be met.

supply chain

major source of risk

products and services

making decisions on new product and services selection and design

risk avoidance

means not dealing with suppliers in a certain area

being agile

means that a supply chain is flexible enough to be able to respond fairly quickly to unpredictable changes or circumstances, such as supplier production or quality issues

strategic partnering

occurs when two or more business organizations that have complementary products or services that would strategically benefit the others agree to join so that each may realize a strategic benefit

traffic management

overseeing the shipment of incoming and outgoing goods

strategic partnerships

partnership choices, level of partnering, and degree of formality

make-to-stock

production is based on a forecast, and products are sold to the customers from finished goods stock

engineer-to-order

products are designed and built according to customer specifications

order fulfillment

refers to the process involved in responding to customer orders

e-business

refers to the use of electronic technology to facilitate business transactions

risk reduction

replacing unreliable suppliers

`supplier code of conduct

requires suppliers to maintain safe working conditions, treat workers with respect and dignity, and have production processes that do not harm workers, customers, or the environment

purchasing department

responsible for obtaining the materials, parts, and supplies and services needed to produce a product or provide a service

gatekeeping

screening returned goods to prevent incorrect acceptance of goods

supply component

starts at the beginning of the chain and ends with the internal operations of the organization

demand component

starts at the point where the organization's output is delivered to its immediate customer and ends with the final customer in the chain

supply component demand component

supply chain has two components

value chains

supply chains are sometimes referred to as

resiliency

the ability of a business to recover from an event that negatively impacts the supply chain

event-response capability

the ability to detect and respond to unplanned events

purchasing interfaces

the connecting link between the organization and its suppliers

logistics

the part of a supply chain involved with the forward and reverse flow of goods, services, cash, and information

supply chain

the sequence of organizations - their facilities, functions, and activities - that are involved in producing and delivering a product or service

inventory velocity

the speed at which goods move through a supply chain

information velocity

the speed at which information is communicated in a supply chain

supplier forums

to educate potential suppliers about the organization's policies and requirements to enhance opportunities for receiving contracts

website order fulfillment

two essential features of e-business

gatekeeping avoidance

two key elements of managing returns

near-sourcing

using nearby suppliers shorten the supply chain

design and engineering

usually prepare material specifications, which must be communicated to purchasing

suppliers

work closely with purchasing to learn what materials will be purchased and what kinds of specifications will be required


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