Week 5: Module 2, Section A, Ch 1, 2, 3
plan-do-check-action (PDCA)
A four-step process for quality improvement, also referred to as the Deming circle
time fence
A policy or guideline established to note where various restrictions or changes in operating procedures take place
continuous replenishment
A process by which a supplier is notified daily of actual sales (or warehouse shipments) and commits to restocking these sales without stockouts and without receiving replenishment orders
demand management process
A process that weighs both customer demand and a firm's output capabilities , and tries to balance the two
collaborative planning, forecasting, and replenishment (CPFR)
A process, endorsed by the Voluntary Interindustry Commerce Standards (VICS ), whereby supply chain trading partners can jointly plan key supply chain activities from production and delivery of raw materials to production and delivery final products to end customers
seasonality
A repetitive pattern of demand from year to year (or other repeating time interval) with some periods considerably higher than others
quick-response program (QRP)
A system of linking final retail sales with production and shipping schedules back through the chain of supply
mix forecast
Forecast of the proportion of products that will be sold within a given product family, or the proportion of options offered within a product line
demand management
The function of recognizing all demands for goods and services to support the marketplace. It involves prioritizing demand when supply is lacking
demand planning
The process of combining statistical forecasting techniques and judgment to construct demand estimates for products or services (both high and low volume; lumpy and continuous) across the supply chain from the suppliers' raw materials to the consumer's needs