midterms Flashcards
The process of overseeing the movement of goods from supplier or manufacturer to point of sale.
Distribution Management
Manufacturer predicts the product demand using market trend.
Forecast Demand
He sources raw materials and produces products.
Sourcing and Production
Finished products are stored in warehouses and inventory levels are managed.
Inventory Management
When orders are received, products are transported to wholesalers, retailers, or consumers.
Delivery
Logistics tools and inventory management systems simplify the supply chain.
Technology Integration
Requires continuous evaluation and new strategies to adapt to the changing market.
Continuous Improvement
The overall process of managing how resources are acquired, stored, and transported to a final destination.
Logistics
A network between a company and its suppliers to produce and distribute a specific product to the final buyer; it includes different activities, people, entities, information, and resources.
Supply chain
The management of the flow of goods and services and includes all processes that transform raw materials into final products.
Supply Chain Management (SCM)
