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36 Cards in this Set

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bullwhip
too much/little inventory to satisfy customer needs, missed production schedules, and ineffective transportation or delivery caused by miscomm among material suppliers, manuf, and resellers of consumer and industrial goods
logistics
activities that focus on getting the right amount of the right products to the right place at the right time at the lowest poss cost
logistics mgmt
org the cost-effective flow of raw materials, in-process inventory, finished goods, and rel info from point of origin to pt of consumption to satisfy customer req.
flow
how move a product from raw materials to consumption
supply chain
seq of firms that perform activities req to create and deliver a good/service to consumers/industrial users
supply chain mgmt
integration and org of info and logistics activities across firms in a supply chain for the purpose of creating and delivering g/s that provide value to customers
3 steps in aligning a supply chain w/marketing strategy
understand the customer, understand the supply chain, harmonize the sc and marketing strategy
electronic data interchanges (EDIs)
combine proprietary computer and telecomm tech to exchange electronic invoices, pmts, and info among suppliers, manuf and retailers
extranet
web network that permits secure business2buss comm btwn a manuf and its suppliers, dist, and other partners
less $$ and more flexible
total logistics cost
expenses assoc w/trans, materials handling and warehousing, inventory, stockouts, order processing and return goods handling
total logistics cost curve is minimized where
intersection of inventory costs and transportation costs curbes
customer service
ability of logistics mgmt to satisfy users in terms of time, dependability, comm, and convenience; job of sc manager is to balace these 4 factors against total logistics cost factors
lead/order cycle/replenishment time
lag from ordering an item until it is received and ready for use/sale
includes: recog of need to order, order transmission, processing, documentation, and trans
quick response
and efficient consumer response delivery systems
ensure simplicity of reorders
dependability
consistency of replensihment
3rd party logistics providers
firms that perform most/all of the log functions that manuf, suppliers, and dist would normally
4 key logsitic functions in a sc:
trans, warehousing and materials handling, order processing, inventory mgmt
5 basic modes of transportation
train, motor, air, piplelines, water
6 basic trans service criteria
cost, time, capability, dependability, accessibility, freq
rail
full capability, extensive routes, low $$

damage prob, not always complete pickup/delivery, slow
truck
complete pickup/del, extensive routes, fairly fast

size and weight restrictions, more $$, more weather sensitive
air
fast, low damage, freq departures

$$, limited capabilities
pipeline
low $$, very reliable, freq depart

limited routes, slow
water
low $$, huge capacities

slow, limited routes and schedules, weather sensitive
freight fowarders
firms that accumulate small shipments into larger lots and then hire a carrier to move them, usually at reduced rates
storage warehouses
goods are intended to come to rest for some pd of time
distribution centers
facilitate the timely movement of goods and rep a very impt part of a sc; 2nd most sig cost after transportation
facilitate sorting and consolidation
materials handling
moving goods over short dist into, within, and out of warehouses and manuf plants
2 major problems: high labor costs and high rates of loss/damage
reasons for inventory
buffer
provide better service
production efficiencies
hedge against price increases by suppliers
purchasing and trans discounts
protect the firm from strikes and shortages
capital costs
opp costs from tying up funds in I; rel to interest rates
inventory service costs
insurance and taxes
storage costs
warehousing space and mat handling
risk costs
loss, damage, pilferage, perishability, and obsolescence
Just in time concepts
low inventories and req fast on time delivery; only good when demand forecasting is reliable
vendor-managed inventory
supplier det the product amoutn and assortment a customer needs and automatically delivers the appropriate items
reverse logisitics
reclaiming recylclable and reusable materials from the point of consumption/use for repair, remanuf, redist, or disposal