Mktg Final Exam

Front 1

manufacturing flow management process

Back 1

ensures that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi stage production process

Front 2

supplier relationship management process

Back 2

closely related to the M.F.M process and contains several characteristics that parallel the C.R.M. process

Front 3

product development and commercialization process

Back 3

includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms

Front 4

returns management process

Back 4

enables firms to manage volumes of returned product efficiently while minimizing returns related costs and maximizing the value of the returned assets to the firms in the supply chain

Front 5

logistics

Back 5

the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption

Front 6

logistics information systmer

Back 6

the link that connects all of the logistics functions of the supply chain

Front 7

supply chain team

Back 7

an entire group of individuals who orchestrate the movemetn of goods services and information from the source to the consumer

Front 8

mass customization (build-to-order)

Back 8

a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications

Front 9

just-in-time production (JIT)

Back 9

a process that redefines and simplifies manufacturing by reducing inventory levels and delivering raw materials at the precise time they are needed on the production line

Front 10

order processing system

Back 10

orders are entered into the supply chain and filled

Front 11

electronic data interchange (EDI)

Back 11

info tech that replaces the paper documents that usually accompany business transactions (purchase orders, invoices) with electronic transmission of the needed info to reduce inventory levels, improve cash flow, streamline operations and increase speed and accuracy of info transmission

Front 12

inventory control system

Back 12

method of developing and maintaining an adequate assortment of materials or products to meet a manufacturers or customers demand

Front 13

materials requirement planning (MRP; materials management)

Back 13

inventory control system that manages the replenishment of raw materials supplies and components from the supplier to manufacturer

Front 14

distribution resource planning (DRP)

Back 14

an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer

Front 15

materials-handling system

Back 15

a method of moving inventory into within and out of the warehouse

Front 16

outsourcing (contract logistics)

Back 16

manufacturers/suppliers use of an independent third party to manage an entire function of the logistics system
a)transportation
b)warehousing
c)order processing

Front 17

electronic distribution

Back 17

includes any kind of product or servicethat can be distributed electronically
a) fiber optic cable (traditional)
b) satellite transmission of electronic signals

Front 18

supply chain

Back 18

the connected chain of all of the business entities, both internal and external, that perform or support the logistics function

Front 19

supply chain management

Back 19

coordinates and integrates all of the activities performed by supply chain members into a seamless process from the source to the point of consumption resulting in enhanced customer and economic value

Front 20

business processes

Back 20

bundles of interconnected activities that stretch across firms in supply chain

Front 21

customer relationship management process

Back 21

allows companies to prioritize their mktg focus on different customer groups according to each groups long term value to the company or supply chain

Front 22

demand management process

Back 22

seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand related plans of action prior to actual customer purchasing behavior

Front 23

customer service management process

Back 23

presents a multicompany unfied response system to the customer whenever complaints, concerns, questions or comments are voiced

Front 24

order fulfillment process

Back 24

a highly intergrated process often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time

Front 25

8 key processes of excellent supply chain management

Back 25

1) CRM
2) CSM
3) OF
4) MFM
5) SRM
6) PDC
7) RM
8) DM

Front 26

supply chain integration

Back 26

multiple firms in supply chain coordinate activities and processes so they are seamlessly linked in attempt to satisfy customers

Front 27

6 types of intergration

Back 27

1) RELATIONSHIP
2) MEASUREMENT
3) TEACH AND PLANNING
4) MATERIAL AND SERVICE
5) INTERNAL OPERATIONS
6) CUSTOMER INTEGRATION

Front 28

relationship integration

Back 28

ability of 2 or more firms to develop tight social connections among their employees. RESULT= smoother personal interactions

Front 29

measurement integration

Back 29

idea that performance assessments should be transparent and similar across all of the supply chain members

Front 30

tech and planning integration

Back 30

creation and maintenance of supply chain tech systems that connect managers thruout supply chain

Front 31

material and service supplier integration

Back 31

focus on integrating processes and functions with those who provide the company with the things they need in order to execute core functions

Front 32

internal operations integration

Back 32

development of capabilities for the firms internal functional areas to communicate and work together on processes and projects

Front 33

customer integration

Back 33

implies firms evaluate their own capabilities and use them to offer long lasting, distinctive, value-added offerings in a way that best serves the customer

Front 34

key decisions of supply chain managers

Back 34

1) sourcing and procurement of raw materials and supplies
2) production scheduling
3) order processing
4) inventory control
5) warehousing and materials handling
6) transportation

Front 35

New Tech. and Emerging Trends in SCM

Back 35

1) tech brings up to date distribution info to decision makers desk
2) tech links suppliers, buyers, and carriers for joint decisions making
3) created new electronic distrib. channel
4) companies saving $$ & time
--> outsourcing to 3rd party carriers