Lesson 2 Flashcards
is the management of all processes that facilitate the transformation of raw materials into a business’s final product
Supply chain management or SCM
includes all activities from sourcing raw materials and services necessary for the production of value, to delivering the finished product or service to the end customer
Supply chain management or SCM
is the process of planning, implementing, and controlling the effective and efficient flow of goods and services from the point of origin to the point of consumption
Logistics
is moving whatever comes out of one location to the next location
Transportation
is to facilitate the movement of goods
Role of transport
the source of destination may be in the same country, or one may be in a different country requiring international movement
the role of transport in logistics
logistics includes the integrated planning, control, realization, and monitoring
according to the council of logistics management
one of the primary processes of logistics
inbound logistics
from suppliers to manufacturing or assembly plants, warehouse, or retail stores
inbound logistics
process related to the storage and movement of the final product
outbound logistics
related information flows from the end of the production line to the end user
outbound logistics
is a category of software that helps in planning and executing the physical movements of goods
transportation management system or TMS
is often a component of a larger SCM (supply chain management) system
TMS
customers today want lightning-fast delivery
better customer service
comes to warehouse efficiency, the more you use your transportation management systems, the less time you spend managing freight and the more time you have to work on other tasks
improved warehouse productivity
is a software used by a company to manage key parts of operations, including accounting and resource management
enterprise resource planning (ERP)
you can keep track of where shipments are at all time
tracking deliveries
companies can keep tabs on their order and shipping lifecycles in real-time with the help of a reliable TMS solution
inventory management
when it comes to minimizing shipping expenses, good transportation management software may make a huge difference
lower shipping cost
transparency across the whole supply chain is possible with todays TMS solution
supply chain visibility
optimized routing has never been more critical than today, thanks to shorter order cycles and smaller cargo quantities
enhanced routing capabilities
becomes more efficient as transportation planning and execution become more predictable
aligned dock scheduling
the use of transportation management systems helps to improve the accuracy of shipping to a great extent
accurate order fulfilment
using the TMS save you both time and money because it will automate all your accounts
minimal documentation
