chap 2 Flashcards
everyday task that keep the supply chain running smoothly
supply chain operations
parts of supply chain operations
planning
sourcing
making
delivering
to make sure the hotel or restaurant has everything it needs, decide how to meet customer needs
planning
4 categories to plan
forecasting
aggregrate planning
product pricing planning
inventory management plans
4 major variables of forecasting
supply - amount of product available
demand - total demand for good on the market
product characteristics - product features that influence demand
competitive environment - actions of the product in the market
forecasting methods in supply chain
qualitative - individuals intuition or beliefs
causal - it assumes
time series - based on trends of traditional demands
simulation - combines cause and time series
aggregrate planning
use production capacity to meet demand
use varying levels of total production capacity
use inventory and work in progress inventory
increase gross profit during times of peak demand and produce revenues
product pricing planning
controlling and overseeing the flow of good
inventory management plan
3 kinds of inventory plan
cycle inventory - necessary
safety inventory - expectation of potential demand
seasonal inventory -
sourcing
procurement
acquisition procedure used by an organization to obtain the required product and services
procurement
5 procurement activities
purchasing
consumption management
vendor selection
contract negotiation
contract management
obtaining the funds of business needs
credit and collections
3 credit and collections activities
set credit policy
implement credit and collection processes
manage credit risk
3rd stage in scm proces,, production of good requested by the consumer
make
3 activities in make
product design
product schedulling
facility management
where the logistics of supply chain management come into play
deliver
rules of order management
enter of order management
automate order routing
make order status visible
use integrated order management systems
2 deliver scheduling
direct deliveries
milk run deliveries
deliveries from one place to reception place
direct deliveries
deliveries that carry goods from single place of origins to various receiving sites
milk run deliveries
sources of delivery
single-product locations - warehouse that available for shipping in narrow selection of similar products
distribution centers - warehouse in which bulk commodities are transported from single product locations
often called reverse logistics
return processing
