Chapter 13

Question 1

Supply Chain:

Answer 1

The connected chain of all of the business entities both internal and external to the company, that perform or support the logistics function

Question 2

Supply Chain Management:

Answer 2

A management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value

Question 3

Supply Chain Agility:

Answer 3

An operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain

Question 4

Supply Chain Orientation:

Answer 4

A system of management practices that are consistent with a “systems thinking” approach

Question 5

Supply Chain Integration:

Answer 5

When multiple firms or business functions in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer

Question 6

Demand Supply Integration:

Answer 6

(DSI)a supply chain operational philosophy focused on integrating the supply-management and demand generating functions of an organization

Question 7

Business Processes:

Answer 7

Bundles of interconnected activities that stretch across firms in the supply chain

Question 8

Customer Relationship Management (CRM) Process:

Answer 8

Allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain

Question 9

Customer Service Management Process:

Answer 9

Presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced

Question 10

Demand Management Process:

Answer 10

Seems to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior

Question 11

Sales and Operations Planning (S&OP)

Answer 11

A method companies use to align production with demand by merging tactical and strategic planning methods across functional areas of the business

Question 12

Order Fulfillment Process:

Answer 12

A highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time

Question 13

Order Cycle Time

Answer 13

The time delay between the placement of a customer’s order and the customer’s receipt of that order

Question 14

Manufacturing Flow Management Process:

Answer 14

Concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multistage production process

Question 15

Supplier Relationship Management Process:

Answer 15

Supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers

Question 16

Product Development and Commercialization Process:

Answer 16

Includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms

Question 17

Returns Management Process:

Answer 17

Enables firms to manage volumes of return product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain

Question 18

Sustainable Supply Chain Management:

Answer 18

A supply chain management philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs

Question 19

Outsourcing (Contract Logistics):

Answer 19

The manufactures or supplier’s use of an independent third-party to manage an entire function of the logistics system such as transportation, warehousing, or order processing

Question 20

Third-party Logistic Company (3PL):

Answer 20

A firm that provides functional logistics services to others

Question 21

Fourth-Party Logistics Company (4PL or logistics integrator):

Answer 21

A consulting-based organization that assesses another’s entire logistical service needs and provide integrated solutions often drawing on multiple 3PLs for actual service

Question 22

Offshoring:

Answer 22

The outsourcing of a business process from one country to another for the purpose of gaining a good economic advantage

Question 23

Nearshoring:

Answer 23

The transfer of an offshore activity from a distance to a nearby country

Question 24

Public Private Partnership‘s (PPPs):

Answer 24

Critical to the satisfaction of both company and societal interest in providing mechanism by which a very large-scale problems or opportunities can be addressed

Question 25

Electronic Distribution

Answer 25

A distribution technique that include any kind of product or service that can be distributed electronically whether over traditional forms such as a fiber-optic cable with her satellite transmission of election signals

Question 26

Three-Dimensional Printing (3 BP)

Answer 26

The creation of three-dimensional objects via an additive Manufacturing printing technology that layers run materials into desired shapes

Question 27

Big Data:

Answer 27

The rapidly collected and difficult-to process large-scale data sets that have recently emerged which push the limits of current analytical capability

Question 28

Cloud Computing:

Answer 28

The practice of using remote network servers to store, manage, and process data

Question 29

Supply Chain Analytics:

Answer 29

Data analyses that support the improved design and management of the supply chain

Question 30

Marketing Channel (Channel Of Distribution):

Answer 30

Set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer

Question 31

Channel Members:

Answer 31

All parties in the marketing channel to negotiate more with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer

Question 32

Form Utility:

Answer 32

The elements of the composition and appearance of a product that make it desirable

Question 33

Time Utility:

Answer 33

The increase in customer satisfaction faction gained by making a good or service available at the appropriate time

Question 34

Place Utility:

Answer 34

The usefulness of a good or service as a function of the location at which it is made available

Question 35

Exchange Utility:

Answer 35

The increased value of a product that is created as its ownership is transferred

Question 36

Merchant Wholesaler:

Answer 36

Institution that buys goods from manufacturers and set resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores the minutes on warehouses, and later ships them

Question 37

Agents and Brokers:

Answer 37

Wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers

Question 38

Retailer:

Answer 38

A channel intermediary that sells mainly to consumers

Question 39

Direct Channel:

Answer 39

A distribution channel in which producers sell directly to consumers

Question 40

Dual Distribution (Multiple Distribution):

Answer 40

The use of two or more channels to distribute the same product to target markets

Question 41

Nontraditional Channels:

Answer 41

Non-physical channels that facilitate the unique market access of products and services

Question 42

Strategic Channel Alliance:

Answer 42

Cooperative agreement between business firms to use the others already established distribution channel

Question 43

Gray Marketing Channels:

Answer 43

Secondary channels that are unintended to be used by the producer, and which often flow illegally obtained or counterfeit product toward customers

Question 44

Reverse Channels:

Answer 44

Channels that enable customers to return products or components for reuse or remanufacturing

Question 45

Drop and Shop:

Answer 45

The system used by several retailers that allow customers to bring use products for return or donation at the entrance of the store

Question 46

Digital Channels:

Answer 46

Electronic pathways that allow products and related information to flow from producer to consumer

Question 47

M-commerce:

Answer 47

The ability to conduct commerce using a mobile device for the purpose of buying or selling goods or services

Question 48

Intensive Distribution:

Answer 48

A form of distribution aimed at having a product available in every outlet where target customers might want to buy it

Question 49

Selective Distribution:

Answer 49

A form of distribution achieved by screening dealers to eliminate all but a few in any single area

Question 50

Exclusive Distribution:

Answer 50

A form of distribution that establishes one or a few dealers within a given area