Chapetr 4 Stm

Front 1

Is general term that refers to a sequence of interlinked undertakings that an organization operating in a specific industry engages in.

Back 1

Value chain

Front 2

Is a broad continuum of specific activities employed by a company.

Back 2

Supply chain management

Front 3

Is now a popular term used for purchasing which was formerly termed as procurement.

Back 3

Supply management

Front 4

Is ordering the right quantity of SKU at minimum inventory cost

Back 4

Inventory management

Front 5

Set up costs are variable costs associated with placing an order with the supplier like managerial and clerical cost in preparing the purchase.

Back 5

Ordering cost

Front 6

(Holding cost ) are cost incurred for holding inventory in storage like handling charges,

Back 6

Carrying cost

Front 7

Are process that transform operational input into output to satisfy consumer needs anf requirements.

Back 7

Production and operations

Front 8

Is the process of producing goods using people or machine resources.

Back 8

Manufacturing

Front 9

Is the process of putting together raw materials into a desired output

Back 9

Assembly

Front 10

Logistics circle

Back 10

Warehousing

Scheduling

Dispatching

Transportation

Delivery

Front 11

Is the function of physically packing finished goods or merchandise in a building, room, or any space for temporary storage.

Back 11

Warehousing

Front 12

Is the act of organizing these inventory units and booking them for delivery

Back 12

Scheduling

Front 13

Products are for transfer this may include posting, mailing, shipping out, transmitting, forwarding, or releasing commodities

Back 13

Dispatching

Front 14

Scheduling and other logistics are necessary to make dispatching cost efficiency

Back 14

Transportation

Front 15

To the specified site is undertaken

Back 15

Delivery

Front 16

Is a mode adopted by an organization to achieve its main objectives of increasing in volume and turnover

Back 16

Growth strategy

Front 17

Are approaches adopted within the company

Back 17

Internal growth strategies

Front 18

Suggest thats for an organization to increase its growth

Back 18

Market penetration

Front 19

Is the process where a company can sell more of its current products by seeking and tapping new markets

Back 19

Market development

Front 20

Is an internal growth strategy where the company sell "new" products to an existing market

Back 20

Product development

Front 21

Is a product /market mix growth startegy that involves creating differetiated products for new customers

Back 21

Diversification

Front 22

Are essentially long term action plans prepared with tje end goal of directing how an organization wil survive and compete

Back 22

Competitive strategies

Front 23

Is to offer products and services at the lowest cost possible in the industry

Back 23

Low cost leadership competitive

Front 24

Is to provide a variety of products, services or product /service features that competitors do not offer or are not able to offer to consumers

Back 24

Broad differentiation strategy

Front 25

This strategy is a combination of the low cost leadership and broad differentiation strategies

Back 25

Best-cost Provider strategy

Front 26

This strategy is implemented when the organization concentrates on a limited markets segment and creates a market niche based on lower cost

Back 26

Focused/market niche lower cist strategy

Front 27

In the strictest sense of the word is anything that is new original this strategy is difficult to implement

Back 27

Innovation strategy

Front 28

Is to make an organization perform better by making the structure lean, streamlining wasteful and inefficient process

Back 28

Operational effectiveness Strategy

Front 29

Lower cost because of volume

Back 29

Economies of scale

Front 30

Is the period of launching the product /service for acceptance

Back 30

Introduction stage

Front 31

Is the phase where the product /service gains acceptance by the consumers

Back 31

Growth stage

Front 32

Is the period where the product has reached its penultimate level

Back 32

Maturity stage

Front 33

Is the period where the product /service begins to reach or is reaching its lowest point

Back 33

Decline stage

Front 34

Is the most radical action a company takes when the company is losing money

Back 34

Liquidation

Front 35

Is implemented when a company consistently fails to reach the set objectives or when the company does not fit well in the organization

Back 35

Divestment

Front 36

Is adopted when the organization has reached a significant level of naon performance, non productivity demoralization and unprofitability

Back 36

Turnaround strategy

Front 37

Suppy management

Back 37

Sourcing

Ordering

Inventory

Management

Front 38

Production/Operation

Back 38

Manufacturing

Assembly

Front 39

Logistics

Back 39

Warehousing

Scheduling

Transportation

Delivery

Front 40

Marketing & Sales

Back 40

Promotion

Selling