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120 Cards in this Set
- Front
- Back
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supply chain management |
global network created to connect vendors, suppliers, other third parties, and customers in order to achieve greater cost efficiency and enhance competitiveness |
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global Logistics |
the design & management of a system that controls the flow of materials into, through, and out the international corporation |
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materials management |
the timely movement of raw material, parts, and supplies through the firm |
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physical distribution |
the movement of finished goods from suppliers to customers |
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systems concept |
concept of logistics based on the notion that material flows are so complex that they can only be considered in the context of their interaction |
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business logistics 3 key concepts |
systems total-cost trade-off |
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total-cost concept |
decision concept that identifies and links expenditures to evaluate and optimize activities |
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trade-off concept |
decision concept that recognizes interactions within the decision system |
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supply-chain management |
connecting value-adding activities of a company's supply side with its demand side |
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just-in-time inventory systems |
materials scheduled to arrive precisely when they are needed on a production line; minimizes storage requirements |
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3 transportation issues |
infrastructure availability of modes choice of mode among alternatives |
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former-colony transportation infrastructure |
original transportation systems were built to maximize extraction potential. shipping to market may be easy, but internal distribution not. |
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logistics platform |
vital to a firms competitive position. determined by location's ease and convenience of market reach under favorable cost circumstances |
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land bridge |
transfer of ocean freight among various modes of land-based transportation |
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sea bridge |
the transfer of freight among various modes of ocean freight |
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intermodal movements |
the transfer of freight from one type of transportation to another |
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liner service |
ocean shipping characterized by regularly scheduled passage on established routes |
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bulk service |
ocean shipping provided on contract, either for individual voyage or for prolonged periods of time |
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tramp service |
ocean shipping using irregular routes, scheduled only on demand |
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roll-on roll off (roro) |
transport vessels built to accommodate trucks that can drive on in one port and drive off at another |
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lighter aboard ship (lash)vesel |
barge stored on a ship and lowered at the point of destination to operate on inland waterways |
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ocean shipping (5) |
liner bulk tramp roro lash |
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air shipping |
more valuable products usually travel by air, that is to say dense by volume and value |
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transit time |
period between departure and arrival of shipments |
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predictability |
the degree of likelihood that a shipment will arrive on time and in good condition |
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tracking |
capability of a shipper to determine the location of goods at any point during the shipment |
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preferential policies |
policies that favor certain (usually domestic) firms ex) national carrier use for the transport of government freight even when more economical alternatives exist |
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straight bill of lading |
non-negotiable bill of lading used in prepaid transactions in which the transported goods involved are delivered to specific others |
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shipper's order |
negotiable bill of lading that can be bought and traded while the goods are in transit and is used for letter of credit transactions |
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commercial invoice |
bill for transported goods that describes the merchandise and its total cost. also lists the shipper and seller addresses and payment terms |
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incoterms |
international commerce terms; widely accepted terms used in quoting export prices note: set by international chamber of commerce (icc) |
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incoterm (2010) |
e-term: deliver to sellers own property f-term: seller delivers to buyer appointed service c-term: seller appoints service $ w/o liability d-term: seller appoints service $ with liability |
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ex-work (exw) |
price quotes that apply only at point of origin; seller agrees to place goods at the disposal of the buyer at the specified place on a date or period |
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free carrier (fca) |
applies only at designated inland shipping point; seller responsible for loading goods into means of transportation; buyer responsible for all subsequent expenses |
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free alongside ship (fas) |
exporter quotes price for goods alongside a vessel a ta port. seller handles cost of unloading and wharfage; loading, ocean transport and insurance are left to buyer |
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free on board (fob) |
applies only to vessel shipments. ownership or liability of goods are passed on to the buyer at the time the goods cross the shipping point to be delivered |
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cost and freight (cfr) |
seller quotes a price for the goods including the cost of transportation to the named port; cost and choice of insurance are left to the buyer
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cost insurance and freight (cif) |
seller price includes insurance, all transportation costs and miscellaneous charges to the point of debarkation
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carriage paid to (cpt) |
the price quoted by an exporter for shipments not involving waterway transport, not including insurance |
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delivery duty paid (ddp) |
goods with import duties paid including inland transportation from import point delivered to the buyers premises |
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delivery duty unpaid (ddu) |
only the destination customs duty and taxes paid by the consignee |
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inventory carrying costs |
expense of maintaining goods in storage |
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order cycle time |
the total time that passes between the placement of an order and the receipt of the merchandise |
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electronic data interchange (edi) |
direct transfer of information technology between computers of trading partners |
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reverse logistics |
system responding to environmental concerns that ensures a firm can retrieve a product form the market for subsequent reuse, recycling, or disposal |
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order cycle time major dimensions (2) |
length of cycle time and consistency |
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storage location decision |
decision concerning the number of facilities to establish and where they should be situated |
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storage location decision |
decision concerning the number of facilities to establish and where they should be situated |
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foreign trade zones |
special areas where foreign goods may be held or processed without incurring duties and taxes |
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export processing zones |
special areas that provide tax and duty-free treatment for production facilities whose outputs is destined abroad |
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special economic zones |
special tariff-free areas where there are substantial tax incentives and low prices for land and labor to which the government hopes to attract foreign direct investment |
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global business units (gbu's) |
focus solely on consumers, brands, and competitors around the world and responsible for the innovation pipeline, profitability, and shareholder returns |
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market development organizations (mdo's) |
know consumers and retailers in each market and integrate the innovation flowing from the gbu's into business plans that work in each country |
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global business service |
provide best in-class support services at the lowest possible cost |
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corporate functions |
ensure ongoing functional innovation and capability improvement |
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3 critical issues basic to global operations |
type of organization providing framework optimal approach implementing corp. strategy type & degree of control from HQ |
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general HR objectives (2) |
recruitment & retention of best possible people maintaining a stable & trained workforce note: cross-cultural & cross-national differences |
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basic functions of an organization (2) |
provide: locus of decision-making & coordination system for reporting & communications |
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types of basic global structures (6) |
global product global area global functional global customer mixed/hybrid matrix |
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global product structure |
product divisions are responsible for all global activity |
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global area structure |
geographic divisions are responsible for all global activity |
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global functional structure |
departments are formed on the basis of functional areas i.e. production, marketing, and finance |
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process structure |
variation of the functional structure where departments are formed on the basis of production processes |
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global customer structure |
divisions are formed on the basis of customer groups |
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mixed structure |
combines two or more organizational dimensions ex) products, areas, or functions |
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matrix structure |
uses functional and divisional structures simultaneously |
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t-shaped organization |
cross functional management model that promotes sharing and knowledge transfer at all levels of the organization while promoting individual expertise |
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decentralization |
granting subsidiaries a high degree of autonomy |
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centralization |
concentrating control and strategic decision-making at HQ |
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coordinated decentralization |
overall HQ corporate strategy granting subsidiaries freedom to implement their own corporate strategies within established ranges |
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locus of decision-making determining factors (4) |
degree of involvement in operations products marketed size & importance of market human resource capability |
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glocal |
reflecting or characterized by local and global consideration |
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glocal organization strategy |
development & communication of a clear corporate vision effective management of HR tools for individual development & cross development integration of individual thinking & activities into the broad corporate agenda |
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not-invended-here syndrome |
defensive, territorial attitude that, if held by managers, can frustrate effective implementation of global strategies |
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best practices |
idea that may have saved money or time, or a prices that is more efficient than existing ones |
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podcasts |
a digital medium consisting of an episodic series of PDF, audio, and video |
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webcasts |
media presentation that uses internet steaming media technology to distribute a single content source to simultaneous listeners or viewers |
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intranet |
process that integrates a company's information assets into a single accessible system using internet-based technologies such as email, news groups, and the web |
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virtual team |
a team of people who are based at various locations around the world and communicate through intranet and other electronic means to achieve a common goal |
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intranet benefits |
increased productivity enhanced knowledge capital facilitated teamwork at insignificant expense immediate incorporation of best practice |
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strategic leader |
highly competent subsidiary located in a strategically critical market |
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contributor |
national subsidiary with a distinctive competence, such as product development |
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implementer |
typical subsidiary role involving implementing a strategy that originates with HQ |
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black hole |
when an international marketer has a low-competence subsidiary or non at all in a highly strategic market; or where a government may restrict a firms activities |
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GE strategic leader products (2) |
portable ultrasound machine (china) handheld electrocardiogram device (india) |
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output controls |
organizational controls such as balance sheets, sales data, production data, product-line growth, and performance reviews of personnel note: make output easy to measure & compare |
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behavioral controls |
organizational controls that involve influencing how activities are conducted |
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elements of bureaucratic control |
international budget and planning system functional reporting systems policy manuals directing functional performance |
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global success importance |
global mindset 55% risk tolerance 44% cultural intelligence 44% accommodation & flexibility 38% adaptability to change 36% |
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4 major categories of overseas assignements |
ceo: oversee and direct operations functional head: establish & maintain depts. trouble shooters: analyzing & preventing white or blue-collar worker |
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selecting managers for overseas assignement |
competence, adaptability, & personal factors |
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base salary |
salary not including special payments, such as allowances, during assignments abroad |
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cost-of-living allowance (cola) |
allowance paid during assignment abroad to enable the employee to maintain an equal standard of living as in their home country |
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foreign-service premium |
financial incentive to accept an assignment abroad, usually paid as a percentage of the base salary |
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hardship allowance |
allowance paid during assignment abroad to an area that requires major adaptation |
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housing allowance |
allowance paid during assignment abroad to provide appropriate living quarters |
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tax-equalization plan |
reimbursement by the company when an employee abroad on assignment pays taxes at a higher rate than at home |
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non-salary related allowances |
relocation allowance mobility allowance travel expenses |
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education allowance |
reimbursement by company for dependent educational expenses incurred when abroad |
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codetermination |
employees are represented on supervisory boards to facilitate communication & collaboration between management & labor |
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minority participation |
participation by a group with less than the votes necessary for control |
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works councils |
provide labor a say in corporate decision-making through a representative body that may consist of entirely workers or both workers and managers |
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quality of work life |
the objective of increasing employee satisfaction and increasing producvtivity |
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work redesign programs |
programs that alter jobs to increase both the quality of the work experience and productivity |
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team building |
cohesiveness of members learning how to organize their work and assume responsibility for it |
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quality circles |
groups of workers who meet regularly to discuss issues related to productivity |
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work scheduling |
preparing schedules of when and how long workers are at the work place |
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current political condition |
is undergoing substantial transformation by reshaping existing political blocs, formation of new groupings, & breakup of old coalitions |
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north-south relationship |
most important is internal reform & bench-marking of production emphasis on education, training, & development of supportive infrastructure |
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environmental protection |
actions taken by governments to ensure survival of natural resources |
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3 scenarios of environmental protection |
dc's sharing resources & technology with ldc's confrontation b/c of non-sharing isolationism |
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isolationism |
policy that minimizes the economic integration between nations |
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population stabilization |
attempt to control rapid increase in a nations inhabitants |
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international debt load |
total accumulated, negative net investment position of a nation |
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trigger mechanisms |
specific acts or stimuli that set off reactions |
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mass customization |
taking mass-produced components and combining them in a variety of ways to result in a specific product for a particular customer |
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political environment |
shifts in political environment will affect the conduct of business among the worlds trading regions. Emerging markets will add competition |
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technology |
will continue to drive change at an accelerated pace. opportunities for innovation & catch up |
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global trade |
wto negotiations continue. governments balance their citizens best interests |
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firms respond to change |
through: global strategy development product policies pricing policies distribution strategies communications |
