Chapter 15: Supply Chain Management Flashcards

1
Q

Purchasing Cycle

A

Series of steps that begin with a request for purchase and end with notification of shipment received in satisfactory condition

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2
Q

Centralized Purchasing

A

Purchasing is handled by one special department

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3
Q

Decentralized Purchasing

A

Individual departments or separate locations handle their own purchasing requirements

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4
Q

Vendor Analysis

A

Evaluating the sources of supply in terms of price, quality, reputation, and service

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5
Q

Strategic Partnering

A

Two or more business organizations that have complementary products or services join so that each may realize a strategic benefit

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6
Q

Inventory Velocity

A

The speed at which goods move through a supply chain

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7
Q

Bullwhip Effect

A

Inventory oscillations become progressively larger looking backwards through the supply chain

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8
Q

Vendor-managed Inventory

A

Vendors monitor goods and replenish retail inventories when supplies are low

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9
Q

Order Fulfillment

A

The process involved in responding to customer orders

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10
Q

Logistics

A

The movement of materials, services, cash and information in a supply chain

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11
Q

Traffic Management

A

Over-seeing the shipment of incoming and outgoing goods

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12
Q

Radio Frequency Identification (RFID)

A

A technology that uses radio waves to identify objects, such as goods in supply chains

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13
Q

Engineer-to-Order

A

Products are designed and built according to customer specifications

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14
Q

Make-to-Order

A

A standard product design is used, but production of the final product is linked to the final customer’s specifications

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15
Q

Assemble-to-Order

A

Products are assembled to customer specifications from a stock of standard and modular components I.e. Dell

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16
Q

Make-to-Stock

A

Production is based on forecast, and products are sold to the customer from finished goods

17
Q

Cross Dock

A

A full inbound pallet is redirected to an outbound shipment

18
Q

Cross Distribution

A

An inbound pallet is broken down into cases right on the dock, and then the cases are immediately distributed to outbound pallets

19
Q

Vendor-Management Inventory

A

Vendors of some non-store brand items such as bread and soft drinks handle replenishment, and those items come directly from the vendor’s warehouse to the stores

20
Q

Block Pick

A

An entire pallet of goods int he warehouse is placed on an outbound truck

21
Q

Case Pick

A

Individual cases or packages are pulled from inventory, placed on pallets and shrink wrapped, and then placed on outbound trucks

22
Q

Third-Party Logistics (3-PL)

A

The outsourcing of logistics management

23
Q

Strategic Sourcing

A

Analyzing the procurement process to lower costs by reducing waste and non-value-added activities, increase profits, reduce risks, and improve supplier performance

24
Q

Supply Chain Visibility

A

A major trading partner can connect to its supply chain to access data in real time

25
Q

Event Management

A

The ability to detect and respond to unplanned events

26
Q

Fill Rate

A

The percentage of demand filled from stick on hand

27
Q

Reverse Logistics

A

The process of transporting returned items

28
Q

Gatekeeping

A

Screening returned goods to prevent incorrect acceptance of goods

29
Q

Avoidance

A

Finding ways to minimize the number of items that are returned

30
Q

Closed-loop Supply Chain

A

A manufacturers controls both the forward and reverse shipment of product

31
Q

Cross-docking

A

A technique whereby goods arriving at a warehouse from a supplier are unloaded from the supplier’s truck and loaded onto outbound trucks, thereby avoiding warehouse storage

32
Q

Delayed Differentiation

A

Production of standard components and subassemblies, which are held until late in the process to add differentiating features

33
Q

Disintermediation

A

Reducing one or more steps in a supply chain by cutting out one or more intermediaries