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10 Cards in this Set
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supply chain management
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refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless operation in which merchandise is produced and distributed in the right quantities, to the right locations, and at the right time, as well as to minimize systemwide costs while satisfying the service levels their customers require
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manufacturers
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make products and sell them to retailers or wholesalers
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wholesalers
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firms that buy products from manufacturers and resell them to retailers
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retailers
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sell products directly to consumers
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marketing channel
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set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption; same as a supply chain
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Solar system
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The sun, eight planets, and the other objects that orbit the sun
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examples of activities in logistics management
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customer service, demand forecasting, distribution communications, inventory control, material handling, order processing, etc
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supply chain management
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includes both channel management and logistics
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distribution center
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facility for the receipt, storage, and redistribution of goods to company stores or customers, may be operated by retailers, manufacturers, or distribution specialists.
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five interrelated activities emerge in supply chain management
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1. making information flow
2. making merchandise flow 3. managing inventory 4. designing the supply chain 5. managing the relationship among supply chain partrners |