Common Learning Blocks Glossary Flashcards
Supply Chain Management Common Learning Blocks Glossary.
*
indicates terms coming, in part or in whole, from the Supply Chain Management Terms and Glossary from August 2013.
Best Practice*
A specific process or group of processes recognized as the best method(s) for conducting an action. Best practices may vary by industry or geography, depending on the environment being used. Best practices methodology may be applied with respect to resources, activities, cost objects, or processes.
Council of Supply Chain Management Professionals (CSCMP)*
A professional organization that supports the professional development of its worldwide membership.
CRM*
See Customer Relationship Management.
CSCMP*
See Council of Supply Chain Management Professionals.
Customer Contact Management
A system for managing a company’s interactions with current and future customers.
Customer Relationship Management (CRM)*
Information systems that help sales and marketing functions, as opposed to Enterprise Resource Planning (ERP), which is for back-end integration.
Customer Service Operations
The delivery of satisfaction; it covers all aspects of the supply chain but is most often assigned to either logistics or sales.
Demand Planning*
The process of identifying, aggregating, and prioritizing sources of demand for the integrated supply chain of a product or service at the appropriate level, horizon, and interval.
End Customer
The final consumer who purchases a product or service.
Enterprise Resource Planning (ERP)*
A system that integrates financial, planning, and control systems into a single architecture that disseminates real-time information throughout an organization. Examples include Secure Access and Oracle.
ERP*
See Enterprise Resource Planning.
Forecasting*
Predictions of how much of a product will be purchased by customers; forecasting relies on both quantitative and qualitative methods.
Integration
Communication, coordination, and visibility within a company and with suppliers, customers, and service providers.
Inventory*
Components, raw materials, work in process, finished goods, and supplies required for the creation of goods and services. Inventory can also refer to the number of units or the value of a stock of goods held by a company.
Inventory Management*
The process of ensuring the availability of products through inventory administration.
Inventory Stock Status
The status of inventory at any given point.
Logistics*
The process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods, including services and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements.
Long-Term Supplier Relationships
Relations with suppliers that last for several years at a minimum.
Manufacturing and Service Operations
Controls the conversion of materials into products and services. In order to meet the needs of manufacturing as well as service delivery, there needs to be an accurate demand forecast.
Material Handling Systems
Short-distance movement of goods or materials within a storage area, such as loading, unloading, palletizing, etc.
Operations:
The processes of manufacturing (converting) goods.
Procurement
The activities associated with acquiring products or services.
Requirements Planning
A production planning, scheduling, and inventory control system used to manage manufacturing processes.
