Common Learning Blocks Glossary

Question 1

*

Answer 1

indicates terms coming, in part or in whole, from the Supply Chain Management Terms and Glossary from August 2013.

Question 2

Best Practice*

Answer 2

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.

Question 3

Council of Supply Chain Management Professionals (CSCMP)*

Answer 3

A professional organization that supports the professional development of its worldwide membership.

Question 4

CRM*

Answer 4

See Customer Relationship Management.

Question 5

CSCMP*

Answer 5

See Council of Supply Chain Management Professionals.

Question 6

Customer Contact Management

Answer 6

A system for managing a company’s interactions with current and future customers.

Question 7

Customer Relationship Management (CRM)*

Answer 7

Information systems that help sales and marketing functions, as opposed to Enterprise Resource Planning (ERP), which is for back-end integration.

Question 8

Customer Service Operations

Answer 8

The delivery of satisfaction; it covers all aspects of the supply chain but is most often assigned to either logistics or sales.

Question 9

Demand Planning*

Answer 9

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.

Question 10

End Customer

Answer 10

The final consumer who purchases a product or service.

Question 11

Enterprise Resource Planning (ERP)*

Answer 11

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.

Question 12

ERP*

Answer 12

See Enterprise Resource Planning.

Question 13

Forecasting*

Answer 13

Predictions of how much of a product will be purchased by customers; forecasting relies on both quantitative and qualitative methods.

Question 14

Integration

Answer 14

Communication, coordination, and visibility within a company and with suppliers, customers, and service providers.

Question 15

Inventory*

Answer 15

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.

Question 16

Inventory Management*

Answer 16

The process of ensuring the availability of products through inventory administration.

Question 17

Inventory Stock Status

Answer 17

The status of inventory at any given point.

Question 18

Logistics*

Answer 18

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.

Question 19

Long-Term Supplier Relationships

Answer 19

Relations with suppliers that last for several years at a minimum.

Question 20

Manufacturing and Service Operations

Answer 20

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.

Question 21

Material Handling Systems

Answer 21

Short-distance movement of goods or materials within a storage area, such as loading, unloading, palletizing, etc.

Question 22

Operations:

Answer 22

The processes of manufacturing (converting) goods.

Question 23

Procurement

Answer 23

The activities associated with acquiring products or services.

Question 24

Requirements Planning

Answer 24

A production planning, scheduling, and inventory control system used to manage manufacturing processes.

Question 25

Reverse Logistics*

Answer 25

A specialized segment of logistics focusing on the movement and management of products and resources after delivery to the customer, typically for repair, warranty, or re-use purposes.

Question 26

Sales Force Management

Answer 26

Information systems used in marketing and management that help automate sales and salesforce management functions.

Question 27

SCM*

Answer 27

See Supply Chain Management.

Question 28

Strategic Cost Management

Answer 28

Managing costs from a strategic or long-term rather than a tactical perspective.