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10 Cards in this Set

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  • Back
supply chain management
refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless operation in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize systemwide costs while satisfying the service levels their customers require
manufacturers
make products and sell them to retailers or wholesalers
wholesalers
firms that buy products from manufacturers and resell them to retailers
retailers
sell products directly to consumers
marketing channel
set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption; same as a supply chain
Solar system
The sun, eight planets, and the other objects that orbit the sun
examples of activities in logistics management
customer service, demand forecasting, distribution communications, inventory control, material handling, order processing, etc
supply chain management
includes both channel management and logistics
distribution center
facility for the receipt, storage, and redistribution of goods to company stores or customers, may be operated by retailers, manufacturers, or distribution specialists.
five interrelated activities emerge in supply chain management
1. making information flow
2. making merchandise flow
3. managing inventory
4. designing the supply chain
5. managing the relationship among supply chain partrners