Opm 311- Chapter 11 - Supply Chain Management, Part 5, Scm

Front 1

Supply chain

Back 1

A sequence of organizations--their facilities, functions, and activities--that are involved in producing and delivering a product or service.

Front 2

Supply chain management

Back 2

The strategic coordination of the supply chain for the purpose of integrating supply and demand management.

Front 3

Logistics

Back 3

The part of a supply chain involved with the forward and reverse flow of goods, services, cash , and information.

Front 4

Purchasing cycle

Back 4

Series of steps that begin with a request for purchase and end with notification of shipment received in satisfactory condition.

Front 5

Centralized purchasing

Back 5

Purchasing is handled by one special department.

Front 6

Decentralized purchasing

Back 6

Individual departments or separate locations handle their own purchasing requirements.

Front 7

E-business

Back 7

The use of electronic technology to facilitate business transactions.

Front 8

Vendor analysis

Back 8

Evaluating the sources of supply in terms of price, quality, reputation, and service.

Front 9

Collaborative Planning, Forecasting, and Replenishment (CPFR)

Back 9

A supply chain initiative that focuses on information sharing among supply chain trading partners in planning, forecasting, and inventory replenishment.

Front 10

Strategic partnering

Back 10

Two or more business organizations that have complementary products or services join so that each may realize a strategic benefit.

Front 11

Inventory velocity

Back 11

The speed at which goods move through a supply chain.

Front 12

Bullwhip effect

Back 12

Inventory oscillations become progressively larger looking backward through the supply chain.

Front 13

Vendor-managed inventory (VMI)

Back 13

Vendors monitor goods and replenish retail inventories when supplies are low.

Front 14

Order fulfillment

Back 14

The processes involved in responding to customer orders.

Front 15

Logistics

Back 15

The movement of materials, services, cash, and information in a supply chain.

Front 16

Logistics

Back 16

The movement of materials, services, cash, and information in a supply chain.

Front 17

Traffic management

Back 17

Overseeing the shipment of incoming and outgoing goods.

Front 18

Radio frequency identification (RFID)

Back 18

A technology that uses radio waves to identify objects, such as goods in supply chains.

Front 19

Third-party logistics (3-PL)

Back 19

The outsourcing of logistics management.

Front 20

Reverse logistics

Back 20

The process of transporting returned items.

Front 21

Gatekeeping

Back 21

Screening returned goods to prevent incorrect acceptance of goods.

Front 22

Avoidance

Back 22

Finding ways to minimize the number of items that are returned.

Front 23

Closed-loop supply chain

Back 23

A manufacturer controls both the forward and reverse shipment of product.

Front 24

Information velocity

Back 24

The speed at which information is communicated in a supply chain.

Front 25

Supply chain visibility

Back 25

A major trading partner can connect to its supply chain to access data in real time.

Front 26

Event management

Back 26

The ability to detect and respond to unplanned events.

Front 27

Fill rate

Back 27

The percentage of demand filled from stock on hand.

Front 28

Strategic sourcing

Back 28

Analyzing the procurement process to lower costs by reducing waste and non-value-added activities, increase profits, reduce risks, and improve supplier performance.

Front 29

Cross-docking

Back 29

A technique whereby goods arriving at a warehouse from a supplier are unloaded from the supplier's truck and loaded onto outbound trucks, thereby avoiding warehouse storage.

Front 30

Delayed differentiation

Back 30

Production of standard components and subassemblies, which are held until late in the process to add differentiating features.

Front 31

Disintermediation

Back 31

Reducing one or more steps in a supply chain by cutting out one or more intermediaries.