Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
18 Cards in this Set
- Front
- Back
|
Supply-chain management |
Management of activities that procure materials and services, transform them into intermediate goods and final products, and deliver them through a distribution system. |
|
|
Make-or-buy decision |
A choice between producing a component or service in-house, or purchasing it from an outside source. |
|
|
Vertical integration |
Developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor. |
|
|
Keiretsu |
A Japanese term that describes suppliers who become part of a company coalition or group. |
|
|
Virtual companies |
Companies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations or network companies. |
|
|
Bullwhip effect |
The increasing fluctuation in orders that often occurs as orders move through the supply chain. |
|
|
Pull data |
Accurate sales data that initiate transactions to “pull” product through the supply chain. |
|
|
Vendor-managed inventory |
A system in which a supplier maintains material for the buyer, often delivering directly to the buyer’s using department. |
|
|
Blanket order |
A long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship. |
|
|
Postponement |
Delaying any modifications or customization to a product as long as possible in the production process. |
|
|
Drop shipping |
Shipping directly from the supplier to the end consumer rather than from the seller, saving both time and reshipping costs. |
|
|
Pass-through facility |
Expedites shipment by holding merchandise and delivering from shipping hubs. |
|
|
Channel assembly |
Postpones final assembly of a product so the distribution channel can assemble it. |
|
|
E-procurement |
Purchasing facilitated through the internet. |
|
|
Electronic data interchange |
A standardized data-transmittal format for computerized communications between organizations. |
|
|
Advanced shipping notice (ASN) |
A shipping notice delivered directly from vendor to purchaser. |
|
|
Logistics management |
An approach that seeks efficiency of operations through the integration of all material acquisition, movement, and storage activities. |
|
|
Inventory turnover |
Cost of goods sold divided by average inventory. |
