chp 1

Offshoring

Moving manufacturing and distribution operations to countries with: -favorable labor costs and tax laws

End-to-End Supply Chain Management

Supply chains are generally described as: -spanning from end-to-end

Postponement

minimize the risks of stock outs and excess inventory by leaving the final configuration of a product to the___and moving those operations: - last possible moment; closer to the customer -Postponement is a hybrid of push/pull market

Machine Learning

scientific study of algorithms and statistical models that computer systems use to perform a specific task: -without using explicit instructions relying on patterns and inference instead. Large amounts of data are: -more prevalent than ever

Packaging Postponement

when goods, that might be offered in different packages (size of package, etc.) are: -not packaged until the last moment.

Labeling Postponement

when product differentiation takes place only by a: -putting the labels on the package

Combined Postponement

- involves keeping the basic products centralized . and performing the final product customization at the Destination distibutor

logistics labor shortages

- wages will continue to rise Companies need to be more: -creative Using a proactive and: -multi-facted approach

Assembly Postponement

-Having base materials in modules, and a Flexible design

Everything as a Service (XaaS) Model

-You simply subscribe to it as service, paying for only what you need

Time postponement

-a fully stocked inventory .is maintained at a one or only a few strategic locations

blockchain technology

-distributed ledger, is a shared database

Artificial intelligence

-intelligence demonstrated by machines -Analyze patterns -predict the possible outcomes

Internet of Things (IoT)

-networked devices

Manufacturing Postponement Examples

-stock a base paint and customize

Distributed Inventory

-strategically positioned near the customers -inventory in multiple distribution centers -converting retail locations into fulfillment centers

Augemented Reality

AR offers numerous: -Assistive Technology Smart displays, glasses or simulators can significantly: -simplify and improve future tasks in the supply chain

Responsive Business Model (Pull Model)

Advantage: High levels of customer service through: -responsiveness and flexibility to meet uncertain customer demand

Anticipatory Business Model (Push Model)

Advantage: If the manufacturer creates a good forecast and supply plan, the product is: -immediately available to ship to the customer on demand

Enterprise Resource Planning (ERP)

An integrated database of - current and historical data

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.

Cash-to-Cash Conversion

The time required to convert: -raw material or inventory purchases into sales revenue

Basic supply chain capabilities model

Efficient: -minimize cost Responsive: -respond quickly to market demand

Global logistics Challenges

Distance of typical order-to-delivery operations is: - significantly longer Documentation requirements for business transactions is: -Significantly more complex Global logistics operations must deal with significant: -diversity work practice How consumers demand products and services must be set up to accommodate: -cultural variations

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

Business Logistics

The coordination of projected requirement, procurement, physical movement, and storage of components, parts, raw materials, and semi-finished and finished goods -to achieve the optimum service level at minimal cost

Logstics Labor - Transporation

The lack of available drivers is rippling through the supply chain, causing a: -bottleneck of goods that is delivering deliveries

Basic Logistics system

The output of the logistics system is: -customer service The challenge for the logistics expert is to design a system that delivers a desired level of customer service: -at the lowest total cost

Cash Spin

The potential benefits of: -reducing assets across a supply chain

Dwell Time

The ratio of time that an: -asset sits idle

Warehouse Robots

Throughput has to be: -faster, costs need to be lower, and service quality Autonomous Mobile Robots (AMR) were built to: -optimize the order oickingand fulfillment

21st century supply chain

Twenty years ago, the supply chain of a typical company would: -report to manufacturing Consumers are increasingly price sensitive and less brand-loyal, resulting a permanent increase in: -supply chain volatility ______should span the entire supply chain, including the supply chains of key partners -risk and opportunity management

Logistics Labor- Warehousing

Warehouses are increasing adoption of automation such as: -shuttle systems and autonoumous

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 recieved. The objective is to maintain products in____ while building asufficient quantity of: -uncommitted status; ready to customize

Whats next for supply chain management?

_______in supply chain management continues to accelerate -pace of change With the ______ things are moving at internet speed in both the B2C and B2B markets: - explosion of e commerce offerthe opportunity to reduce this complexity: -Technical Innovations The enormously increasing: - complexity of markets as well as dynamically increasing customer requirements Chances are, the big picture will look similar to today's supply chain, but the: -details of how things get done will dramatically change. The capacity crunch will likely continue, forcing companies to find more ways to: - cut costs One of the ways businesses might be able to save resources upfront is with: -cloud based scm The need for ____ will likely continue to be addressed as AIand IoTgrow in ubiquity: -security within the supply chain