Supply Chain Management Midterm 2 Ch 3,8,10,12,14 Glenn Ismond

Front 1

Average Aggregate Inventory Value

Back 1

The total value of items held in inventory for the firm, valued at cost.

Front 2

Balanced Scorecard

Back 2

Including multi-dimensional measures in performance assessment.

Front 3

Bullwhip effect

Back 3

The variability in demand is magnified as we move from the customer to the producer in the supply chain.

Front 4

Collaborative Planning, Forecasting, and replenishment (CPFR)

Back 4

An internet tool to coordinate forecasting, production, and purchasing in a firm's supply chain.

Front 5

Fair trade practices

Back 5

Following ethical and socially responsible practices.

Front 6

Functional products

Back 6

Staples that people buy in a wide range of retail outlets, such as a grocery store and gas station.

Front 7

Innovative products

Back 7

Products such as fashionable clothes and personal computers typically have a life cycle of just a few months.

Front 8

Inventory positioning

Back 8

Deciding where and in what format to stock inventory in the supply chain.

Front 9

Logistics

Back 9

Management functions that support the complete cycle of material flow: from the purchase and internal controls of production materials; to the planning and control of work-in-process; to the purchasing, shipping, and distribution of the finished products.

Front 10

Mass customization

Back 10

The ability of a company to deliver highly customized products and services to different customers around the world.

Front 11

Outsourcing

Back 11

Moving some of a firm's internal activities and decision responsibility to outside providers.

Front 12

Process postponement

Back 12

Delay of the process step that differentiates a product to as late in the supply chain as possible.

Front 13

Reverse supply chain

Back 13

Series of activities required to achieve retrieve a used product or return from a customer and either dispose of it or reuse it.

Front 14

Strategic sourcing

Back 14

The development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of a business.

Front 15

5S

Back 15

Philosophy based on 5 Japanese words starting with S that imply a clean and safe workplace.

Front 16

Andon Board

Back 16

A board showing performance measures of the production line.

Front 17

Jidoka

Back 17

Ability to stop a production line if there are problems.

Front 18

Backflush

Back 18

Calculating how many of each part were used in production and using there calculations to adjust actual on-hand inventory balances. This eliminates the need to actually track each part used in production.

Front 19

Concurrent engineering

Back 19

Product design using multifunctional teams.

Front 20

External set-up

Back 20

Set-up activities that can be done while the machine is running.

Front 21

Freeze window

Back 21

The period of time during which the schedule is fixed and no further changes are possible.

Front 22

Group Technology

Back 22

A philosophy in which similar parts are grouped into families, and the processes required to make the parts are arranged in a specialized work cell.

Front 23

Internal set-up

Back 23

Set-up activities that can be done only when the machine is stopped.

Front 24

Kaizen

Back 24

Japanese term for continuous improvement or the PDCA (plan-do-check-act) cycle.

Front 25

Kanban and the kanban pull system

Back 25

An inventory or production control system that uses a signaling device to regulate flows.

Front 26

Keiretsu

Back 26

A close network of companies related to each other in the supply chain.

Front 27

Lean production

Back 27

Integrated activities designed to achieve high-volume, high-quality production using minl inventories of raw materials, work-in-process, and finished goods.

Front 28

Level schedule

Back 28

A schedule that pulls material into final assembly at a constant rate.

Front 29

Muda

Back 29

Waste of any kind in a production system.

Front 30

Preventive maintenance

Back 30

Periodic inspection and repair designed to keep equipment reliable.

Front 31

Quality at the source

Back 31

Philosophy of making factory workers personally responsible for the quality of their output. Workers are expected to make the part correctly the first time and stop the process immediately if there is a problem.

Front 32

Quality circles

Back 32

Groups of employees that meet during work hours for process and product improvement.

Front 33

Uniform plant loading (heijunka)

Back 33

Smoothing the production flow to dampen schedule variation.

Front 34

Value chain mapping

Back 34

A graphical way to analyze where value is or isn't being added as material flows through a process.

Front 35

Critical Path

Back 35

The sequence of activities in a project that forms the longest chain in terms of their time to complete.

Front 36

Gantt chart

Back 36

Shows in a graphic manner the amount of time involved and the sequence in which activities can be performed. (aka bar chart)

Front 37

Slack time

Back 37

The time that an activity can be delayed. The difference between the late and early start times of an activity.

Front 38

Production planning strategies

Back 38

Plans that involve trade-offs among workforce size, work hours, inventory, and backlogs.

Front 39

Bill of Materials (BOM)

Back 39

A computer file that contains the complete product description, listing the materials, parts, components and the sequence in which the product is created.

Front 40

Capacity Requirements Planning (CRP)

Back 40

Revising the MRP schedule based on capacity constraints.

Front 41

Distribution Requirements Planning (DRP)

Back 41

The use of MRP logic in the planning of distribution inventories.

Front 42

Manufacturing Resource Planning (MRP II)

Back 42

MRP linked to the other functions in the firm.

Front 43

Master Production Schedule (MPS)

Back 43

A time-phased plan specifying how many and when the firm plan to build each end item.

Front 44

Material Requirements Plan (MRP)

Back 44

The logic for determining the number of parts, components, and materials needed to produce ta product. MRP also provides the schedule specifying when each of these materials, parts, and components should be ordered or produced.

Front 45

Net Change system

Back 45

An MRP system that calculates the impact of a change in the MRP data.