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CLTD > Module 3: Order Management > Flashcards

Module 3: Order Management Flashcards

1
Q

Purchase Orders Management Activities

A 
Order Placement
Monitoring
Receiving
Acceptance
Payment of Supplier
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2
Q

Manufacturing Orders Management Activities

A 
Order Release
Routing
Manufacture
Monitoring
Store receipt or finished Goods Inventories
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3
Q

Customer Orders

A 
Order Promising
Order Entry
Order Pick
Pack and ship
Billing
Account Reconciliation
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4
Q

7 Rights

A 
Getting the right product
The Right Condition
To the Right Customer
In the Right Quantity
At the right Cost
To the Right Location
at the right Time
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5
Q

Order Cycle

A

The progression used by a company starting with receipt of a customers order and ending with delivery to that customer

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6
Q

Order Processing

A

The activity required to administratively process a customers order and make it ready for shipment or production

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7
Q

Net Inventory (available inventory)

A

Determining if the desired items are in stock or on backorder. “The on-hand inventory balance minus allocations, reservations, backorders, and quantiies held for quality problems. Often called Beginning Available Balance”

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8
Q

Delivery Reliability

A

A performance criterion that measures how consistently the goods or services are delviered on, or before, the promissed date and time

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9
Q

Product Conditions

A

The condition of the items in the order,; the items should be as-described and undamaged

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10
Q

Delivery Alternatives

A

The appropriate mode of transport for delivery of the order

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11
Q

delivery time

A

the amount of time needed to transport and deliver the order to the customer; it should correspond to the date/time told to the customer

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12
Q

Order Status

A

information avaliable for the customer to identify where the order is in the delivery process

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13
Q

Customer Relationship Management (CRM)

A

a marketing philosopy based on putting the customer first. The collection and analysis of information designed for sales and marketing decision support (as contrased to enterprise resorces planning information). to understand and support existing and portential customer needs. It includes account management, catalong and order entry, payment processing, credits and adjustments, and other ffunctions.

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14
Q

Customer

A

a person or organization receiving a good, service, or information

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15
Q

Benefits of Lifetime Customers

A

Higher Customer Satisfaction
Increased ability to anticipate customer needs
Growth in revenue and profits
Decreased marketing costs

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16
Q

Lifetime Customer Value (LCV)

A

a metric for defining customer profitability. A prediction of the net present valude of the future profites attributed to the etire futuer relationsihp with a customer. Focus on long-term health of its customer relationship rather than quarterly profits

17
Q

Formula of Operating Profit Contribution

A

Gross Profit - (Invoices X Avg Cost/Invoice)

make sure time period of GP and Inv is same

18
Q

80-20 Rule

A

A term referring to the PARETO PRINCIPLE. It suggests that most effects come from relatively few causes; that is, 80% of the effects (or sales or costs) come from 20% of the possible causes (or items)

19
Q

Single Allocation Criteria

A

Determine the costs of direct materials, labor, overhead during a particular time period for each customer

20
Q

Activity Based Costing

A

ID the specific costs of servicing each customers orders based on how, how much, what, and when that customer orders

21
Q

Cost-to-Serve

A

ID the costs of different business activities within each stage of the supply Chain as well as the Overhead costs associated with each customer

22
Q

Determining the proper customer service levels involves:

A
  1. ID what each customer segment values
  2. Categorize components
  3. Prioritize the elements of customer service by segment or customer level
  4. Benchmark against competitors to establish relative service level
  5. Perform a gap analysis
  6. Design product/service packages that will meet or exceed minimum service requirements
  7. Establish service level metrics, targets, and monitoring and controlling procedures
  8. Monitor and control
23
Q

Service Level Agreement

A

A contract specifying the service levels that wil be provided in each area along with relavant metrics and targets that will be used to measure compliance

24
Q

Inbound Logistics

A

The group of moving materials from suppliers or vendors into production processes or storage facilities, or the actual movement of such material

25
Q

Procurement Involves

A

Planning, purchasing, invetnory control, traffic, receviing, incoming inspections, and salvage ops

26
Q

Inbound-to-maufacturing (I2M)

A

to help source materials and compenents in the most cost effective manner so that they can be responsive to their customers variable manufactuirng demands. Improving the control of inbound supply of raw materials and comonents helps logistics reduce ops cost and use factory space more efffectivelly

27
Q

Supplier Relationship Management (SRM)

A

A comprehensive approach ot managing an enterprises interactions with the organizations that supply the goods and services the enter[rise uses.
Goal is to streamline and make more effective the processes between an enterprise and its suppliers.

28
Q

Product Flow

A

Speeding up th ephysical movement of raw materials and components from the supplier to the end customer

29
Q

Service Flow

A

improving productivity, reducing costs, and providing additionla valude through online ordering, order status tracking, electronic transfer of payables/receivables, ASN, and barcoding!!!!

30
Q

Information Flow

A

Decreasing the redundant transmission of critical information up and down the channel. This requires that suppliers function as integral partners from the time an order is placed so that they are aware of demand schedules, inventory supply levels, product specificaitons, and product and warranty information

31
Q

SRM provides the following benefits

A
  1. Uninterrupted flow of materials and services. Shortages of components result in manufacturing downtime and may cause additional costs later for expedited shipping
  2. More competitive priced raw materials and components. Pre-aranged terms with suppliers will result in the best combo of price, quality, and service
  3. Ability to prescreen suppliers. Performance metrics can be used as prequalificaitons criteria
32
Q

lead time

A

the time bw recognition of the need for an order and receipt of goods. indivudual components of LT include order prep, queue time, processing time, move or transport time, receiving time, inspection time

CLTD (2 decks)

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