Chpt 10 Flashcards
What are supply chains?
- Procurement (source)
- Production (make)
- Distribution (store & deliver)
How should products be produced and distributed?
The right quantities, locations, timing (to minimized system-wide costs and satisfies customers needs)
Characteristics food supply chain food service providers?
More compact (less extended), not as many tiers of suppliers, distribution network smaller or unnecessary
What ties the supply chain processes together? Because we are in.
Information
What are the 3 terms used interchangeably in this part of supply/demand/product management?
Value Chain, Demand Chain, Supply Chain
What are the keys to effective SCM?
Collaboration, communication, cooperation, must share information, trust
What is information technology?
The most important enabler of supply chain, allows for a flow of information
What is e-business?
Replacement of physical business processes with electronic ones. The Internet, email, Internet of things (connects int. to non computer devices (lightbulb, thermostat))
What are 3 technology specific supply chain enablers?
- Electronic Data Interchange (EDI) (computer to computer)
- Bar Code (POS) (automated data collection/creates instant comp record of sale)
- Radio Frequency Identification (RFID) (uses radio waves to transfer data from chip to reader - “in real time”)
What are the 4 concerns for supply chain integration?
- Share information among members
- Collaborative, Planning, Forecasting & Replenishment
- Coordinated workflow, production, operations & procurement
- Adopt new business models and technologies
How can the bullwhip effect be reduced?
With information sharing & CPFR
What is ERP & SAP
Enterprise Resource Planning (software that integrates components within a company) “Systems, Applications, and Products” software that helps businesses centralize their data management and improve business processes.
What is days of supply? (DOS)
a metric that indicates how long a company’s current inventory will last based on its average daily demand,
What is the SCOR model?
“Supply Chain Operations Reference” model, which is a standardized framework used to evaluate and improve a company’s entire supply chain performance by identifying key processes like planning, sourcing, making, delivering, and returning, enabling for better analysis and optimization across the entire supply chain network
What is information sharing in supply chain management?
Information sharing reduces the bullwhip effect, enables early problem detection, enables faster response, and increases trust and confidence.
What is inventory turnover?
Inventory turnover is calculated by dividing the cost of goods sold by the average aggregate inventory value.
What is fill rate?
Fill rate is the fraction of orders filled by a distribution centre within a specific time period.
What is blockchain?
Blockchain is a digital distributed ledger that can be programmed to record financial and other transactions that is incorruptible and secure.
What is the bullwhip effect?
Inventory fluctuations that occur when slight demand variability is magnified as information moves back upstream.
What is sustainability in supply chain?
Sustainability is the ability to meet present needs without compromising the ability of future generations to meet their needs.
What defines value in supply chain?
Value is defined by good quality, a fair price, and fast and accurate delivery.
What is the role of buffer inventory in supply chains?
Buffer inventory at various stages to minimize the negative effects of uncertainty and keep goods and services flowing smoothly.
How do companies promote sustainability in supply chains?
Companies work with suppliers to reduce inefficient use of resources, reduce waste, and recycle.
What are some examples of sustainable practices?
Examples include improving fuel efficiency in a distribution fleet, having employees telecommute, and using eco-friendly packaging materials.
What is Electronic Data Interchange (EDI)?
EDI is a computer-to-computer exchange of business documents that links supply chain members.
