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Scm 300 > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

3 parts of supply chain management

A

Procuring materials
Operations
Moving product to customer

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2
Q

What is supply chain management?

A

The efficient integration of suppliers, manufacturers, transporters, distribution centres

It is about efficiency, which is impossible without integration

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3
Q

Supply chain is the _______ of the organisation, marketing and design are the _____

A

Muscles and bones,

Brain

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4
Q

Value formula

A

What did I buy/

What did it cost me

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5
Q

Productivity formula

A

What did I make/

What was the cost

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6
Q

Procurement

A

The process of obtaining services, supplies, and equipment in conformance with organisational regulations

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7
Q

Operations

A

Design, operation, and improvement of production systems

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8
Q

Logistics

A

The coordinates planning and execution of preparing, movement, storage, and distribution of a product

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9
Q

What are corporation goals

A

Sustainable long term profits and max ROI

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10
Q

Reverse logistics

A

Flow backward into the supply chain, away from the consumer, and toward manufacturers

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11
Q

Safety stock

A

Protects against uncertainty in demand, lead time. Not intended for use

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12
Q

Anticipation inventory

A

Held in anticipation of big sales, used to absorb uneven rates of demand or supply

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13
Q

Pipeline inventory

A

Orders that have been placed but not yet received or paid by customer

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14
Q

Factors for putting together the right team

A

Diversity of opinion
Independence
Decentralisation- allows for specialisation

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15
Q

Total annual cost of inventory

A

Annual cost to purchase inventory+ annual holding cost + annual ordering cost

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16
Q

Annual holding cost

A

Average inventory*annual per unit holding cost

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17
Q

Annual ordering cost

A

(Demand/lot size) * cost to place each order

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18
Q

Annual cost to purchase inventory

A

Demand * cost per unit

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19
Q

Requisition

A

Communicate a specific need to purchase

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20
Q

Purchasing process steps

A 
Requisition 
Supplier selection
Place order
Track order
Receive order
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21
Q

Centralised purchasing

A

Has a purchasing group, takes all orders and makes you happy

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22
Q

Decentralised purchasing

A

They give you a budget and you do the ordering yourself

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23
Q

Supplier score card

A

Rubric to figure out who to buy from

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24
Q

Prototypes

A

Options of a product to make

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25
Cycle time
Operating time/ | Demand
26
Theoretical minimum # of workstations
Sum of task times/ cycle time Sum of task times= add up #s in flowchart
27
Efficiency
Sum of task times/ (# of workers* cycle time)
28
Idle time
of workers * cycle time - sum of task times
29
Effective cycle time in a flowchart
The maximum time within the workstation
30
Candidate
Something that has nothing coming before it
31
Planogram
Schematic drawing that illustrates product placement to maximise use of shelf space and drive sales
32
Primary packaging
Comes in direct contact with end item
33
Air transport
Through air, 75 pounds or less
34
Freight
Heavier than 75 pounds, air travel
35
4 competitive priorities
Cost Quality Speed/time Flexibility
36
Global SCM advantages and disadvantages
Lower cost Skilled labour Proximity to customers and suppliers Distance Culture Laws Time zones
37
Supplier/distributor tiers
0: manufacturing 1st tier supplier: parts manufacturing 2nd tier supplier: S1:S9 1st tier distributor: industry distributor 2nd tier distributor: retail distributor 3rd tier distributor: retail store
38
3 SCM flows
Materials Money Information
39
Business model
A company’s plan for how it will purchase, transform, deliver and sell things
40
Business model types
``` B2C B2B Land based Net commerce Both of above ```
41
Supply chain visibility
Ability to see what is happening with inventory upstream and downstream
42
Core competencies
The primary advantages a company has over its competitors
43
7 types of waste
``` Defects Overproduction Transportation Motion Waiting Inventory Over processing ```
44
SCM manager 3 goals
Satisfy needs of customers, company | Be prepared for future
45
Supply chain strategy
Understanding product Developing business model Organising right partners
46
Supply chain tools
``` Supply chain metrics Info technology Relationship management Financial resources Organisational integration ```
47
Lead time
Time Between customer placing order and receiving it
48
Inventory strategies
Insurance Market needs Managing costs
49
Stock keeping unit
Product or service code used to log sales
50
Pipeline formula
Periodic demand x lead time
51
EOQ optimal order size
Gives you the lowest TC for cost structure and demand forecast
52
Outsourcing considerations
``` Location Infrastructure Design Materials Services Human elements Finance ```
53
Cargo classifications
Bulk-free flowing Breakbulk-packaged Neo-bulk-mixed
54
Freight shipping terminology
TL- full truckload CL- full container load LTL- less than truck load LCL- less than container load
55
Cube
Amount of space in a container Cubing out- limit
56
Weight
Heaviness of cargo Weighing out- limit
57
Intermodal
Repackage products instead of unloading for next trip
58
TEU
Twenty foot equivalent unit 20 footer = 1 TEU
59
Drop shipment
System of retailer, manufacturer, and consumer
60
Last mile
Between final holding facility and end consumer
61
Cross docking
Distributing from upstream supplier to downstream consumer through distribution center in less than 24 hours
62
Central return center
Performs reverse logistics functions related to customer returns
63
Infrastructure
Physical structure available for movement of goods through supply chain
64
Orders placed per year
Annual demand/ lot size
65
Average inventory
Lot size/2
66
Transportation
``` Road Rail Water Air Pipeline ```

Scm 300 (3 decks)

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