Exam 3 CH.13 Flashcards
supply chain
the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function
supply chain management
a management system that coordinates and integrates all of
the activities performed by supply chain members into a seamless process, from the source
to the point of consumption, resulting in enhanced customer and economic value
supply chain agility
an operational strategy focused on creating inventory velocity and flexibility simultaneously in the supply chain
outsourcing
a manufacturer’s or supplier’s use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing
reshoring
the reinstitutionalization of a business process from an outsource location/country back to the original location for the purpose of gaining
economic advantage
nearshoring
the transfer of an outsourced activity from a distant to a nearby
country
business processes
bundles of interconnected activities that stretch across
firms in the supply chain
customer relationship managment
allows companies to
prioritize their marketing focus on different customer groups according to each
group’s long-term value to the company or supply chain
- This process provides a set of comprehensive principles for the initiation and maintenance of customer relationships and is often carried out with the
assistance of specialized CRM computer software
customer service management process
presents a multicompany, unified
response system to the customer whenever complaints, concerns, questions, or comments are voiced
- When the process is well executed, it can have a strong positive impact on revenues, often as a result of a quick positive response to negative customer
feedback. - The use of customer care software enables companies to enhance their customer service management process
demand management process
seeks to align supply and demand
throughout the supply chain by anticipating customer requirements at each level
and creating demand-related plans of action prior to actual customer purchases
- Activities such as collecting customer data, forecasting future demand, and developing activities that smooth out demand help bring available inventory into
alignment with customer desires
sales and operations planning
a method companies use to align
production with demand by merging tactical and strategic planning methods
across functional areas of the business
order fulfillment process
a highly integrated process, often requiring persons from
multiple companies and multiple functions to come together and coordinate to create
customer satisfaction at a given place and time
order cycle time
the time delay between the placement of a customer’s order and the customer’s receipt of that order
supplier relationship management process
supports manufacturing flow by
identifying and maintaining relationships with highly valued suppliers
product development and commercialization process
includes the group
of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms
Manufacturing flow management process
process concerned with ensuring
that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multistage production process
returns management process
enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain
marketing channel (channel of distribution)
a set of interdependent
organizations that eases the transfer of ownership as products move from producer to business user or consumer
- While “upstream” supply chain members are charged with moving component parts or raw materials to the producer, “downstream” members of the marketing
channel propel finished goods toward the customer, and/or provide services that
facilitate additional customer value.
merchant wholesalers
an institution that buys goods from manufacturers and resells
them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them
agents and brokers
wholesaling intermediaries who do not take title to a product, but
facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers
retailers
a channel intermediary that sells mainly to consumers
dual or multiple distribution
the use of two or more channels to distribute the same product to target markets
nontraditional channels
nonphysical channels that facilitate the unique
market access of products and services
strategic channel alliance
a cooperative agreement between business firms to use the other’s already established distribution channel
gray marketing channels
secondary channels that are unintended to be used by the producer, and which often flow illegally obtained or counterfeit
product toward customers
reverse channels
channels that enable customers to return products or
components for reuse or remanufacturing
drop and shop
a system used by several retailers that allows customers to
bring used products for return or donation at the entrance of the store
digital channels
electronic pathways that allow products and related
information to flow from producer to consumer
m-commerce
the ability to conduct commerce using a mobile device for the
purpose of buying or selling goods or services
− Mobile devices are used to assess and compare products.
− Social shopping allows multiple retailers to sell products to customers through social media
sites
intensive distribution
a form of distribution aimed at
having a product available in every outlet where target
customers might want to buy it
selective distribution
a form of distribution achieved by screening dealers to eliminate all
but a few in a single area
exclusive distribution
distribution to only one or a few dealers within a given area
