Chapter 7 Demand Management, Order Management, And Customer Service Flashcards
Make to stock
Finished goods are produced prior to receiving a customer order
Make to order
Finished goods are produced after receiving a customer order
Judgmental forecasting
Using judgment or intuition and is preferred in situations where there is limited or no historical data
Time series forecasting
When future demand is solely dependent on past demand
Cause and effect (associative) forecasting
Assumes that one or more factors are related to demand and that the relationship between cause and effect can be used to estimate future demand
CPFR (collaborative, planning, forecasting, and replenishment)
Supply chain partners share planning and forecasting data to better match up supply and demand
Order management
Management of the various activities associated with the order cycle
Order cycle
The time from when a customer places an order to when the order is received
Order to cash cycle
From when a customer places an order to when the organization receives payment for the order
Order transmittal
The time from when the customer places an order until the seller receives the order
Order processing
The time from when the seller receives an order until an appropriate location is authorized to fill the order
Order picking and assembly
Includes all activities from when an appropriate location is authorized to fill the order until goods are loaded aboard an outbound character
Voice based order picking
The use of speech to guide order picking activities
Pick to light technology
Orders to be picked are identified by lights placed on shelves or racks
Order delivery
The time from when a transportation carrier picks up the shipment until it is received by the customer
