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OSCM 640 Flashcards

Test 2

1
Q

Supply Management

A

the identification, acquisition, positioning and management of resources and capabilities that a firm needs to attain its strategic objectives

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2
Q

Sourcing

A

the process used to identify and select suppliers that have and acquire goods and services

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3
Q

Supply Chain Risk

A

the probability of an unplanned event in acquisition, delivery, use or disposal that negatively affects a firms ability to serve its customers or hurts the firm’s reputation

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4
Q

Supply Chain Risk Management

A

practices, identifies, assess, and reduce risk exposure and speed recovery if a disruption occurs

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5
Q

Supply Chain Resilience

A

the capability to resist and recover from supply chain disruptions

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6
Q

Total Cost of Ownership

A

considers all the costs incurred before, during, and after a purchase.

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7
Q

Sustainability

A

the ability or capacity of the system to maintain or sustain itself by improving its performance in terms of how it manages pollution (planet), people and changes in the business model (profit)

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8
Q

Insourcing

A

acquiring inputs from operational processes provided within the firm. Vertically Integrated

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9
Q

Outsourcing

A

acquiring inputs from operational processes provided by suppliers.

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10
Q

Make or Buy Decisions

A

considers insourcing or outsourcing the production of parts or component

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11
Q

Offshoring

A

outsourcing to a supplier in a different country

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12
Q

Nearshoring

A

sourcing in a different country that is located close to your own. US buying from Mexico or Canada

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13
Q

Reshoring

A

sourcing purchases that were offshored in one’s home country

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14
Q

Supply Category Management

A

develops and implements consistent supply management strategies across the organization

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15
Q

Spend Analysis

A

shows what’s being purchased and at what prices, from what suppliers

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16
Q

Enterprise Resource Planning System (ERP)

A

procure to pay systems, purchasing cards, or other systems are combined, cleansed and analyzed

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17
Q

Supply Base Optimization

A

the determination of the number of suppliers to use

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18
Q

Adversarial Relationships

A

are typified by distrust, limited communication and short term win-lose business transactions

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19
Q

Arm’s-Length Relationships

A

limited to simple transactions like placing and filling orders. Can work for bottleneck or noncritical items and relationship are often short term but commitment to purchase more over a period of time reduces transaction costs, confirms supply availability, and reduces price uncertainty

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20
Q

Cooperative Relationship

A

means that buyers and suppliers work with each other to attain mutually beneficial goals but do not engage in high levels of interaction, information sharing and collaboration that is needed for innovation

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21
Q

Full Partnership

A

by working together, partners expect to create better solutions that they could create alone.

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22
Q

Logistics

A

delivering economic and social innovation

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23
Q

Logistics Management

A

as the part of the supply chain management that plans implements and controls the efficient, effective forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption in order to meet customer requirements.

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24
Q

Electronic Data Interchange

A

the structured secure electronic transmission of data between organizations

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25
Robotic Process Automation
process tool that allows the configuration of scrips to activate specific keystrokes in an automated fashion such that these bots can mimic selected transaction steps within process operations
26
OTIF
On Time in Full
27
Internet of Things (IoT)
a network of physical devices that are embedded with sensors, software and connectivity that enable data exchange and analysis (used to track shipments)
28
Economic Regulation
government controls of the entry, rates, and services provided by transportation carriers. Ensures transportation services are available to everyone at a reasonable cost
29
Social Regulation
regulations designed to ensure that transportation carriers conduct their activities in a safe, responsible, and sustainable manner
30
ELDs
Electronic Log Devices; use in vehicles to track certain specifications replacing paper based logs. Designed to increase safety for drivers.
31
Economy of Scale
the cost per unit of weight decreases as the shipment size increase. Fixed costs can be spread more as the weight of the shipment increases.
32
Economy of Distance
the cost per unit of distance decreases as the distance moved increases. The longer you travel, the fixed costs can be spread more over a larger number of miles
33
Consolidation
combining a few small shipments into on large shipment to take advantage of economies of scale or distance.
34
Market Area Consolidation
achieved my combining several small shipments from one shipper that are going to the same market area into one shipment.
35
Pooled Delivery Consolidation
combines small shipment from different shippers that are going to the same market area.
36
Scheduled Delivery Consolidation
established specific times when deliveries will be made to customers
37
Truckload (TL)
full trailers of freight
38
Less-Than-Truckload (LTL)
loads of less than 15,000 lbs
39
Specialty Carrier-
parcel carriers along with many other carriers designed to meet specific services and cost requirements. (USPS)
40
Intermodal Transportation
combines 2 or more modes to take advantage of the economies and services for each
41
Piggyback Service
when a trailer is placed on a train or boat and moved from on destination to another. Once it arrives a truck picks up the trailer and moves it to the final destination
42
Last mile delivery
transportation from a local distribution center or retail center to the customers location.
43
Omni-Channel
a distribution strategy in which customers can order and receive and return purchases in different ways
44
Transshipment Point
a facility where products are received sorted and sequenced and selected into loads consistent with the customers' needs
45
Fulfillment Centers
distribution facilities that are specialized for processing and shipping e-commerce orders directly to homes and businesses.
46
Stockpiling
storing inventory to protect against seasonality either in supply or demand
47
Production Support Wearhouse
stores parts and components need to support a manufacturing plants operations
48
Break-bulk
splitting large shipments into individual order and arranging for local delivery to customers
49
Warehouse consolidation
when shipments form a number of sources are combined into one larger shipment going to a single location
50
Cross-docking
combines break-bulk and consolidation activities. UPS, FedEx, USPS. Reduces transportation costs avoids the need for product storage, and benefits the customer
51
Reverse logistics
logistics activities required to manage the flow of products returned by customers for credit, repair or disposal
52
Value-added Services
any work that creates greater value for customers by creating customized features or configurations
53
Cost-to-Service
as services levels increase, typically so do cost
54
Cost-to-Cost
increasing the cost of one logistics activity reduces the cost of another
55
Total Landed Cost
the sum of all products and logistics related costs
56
Third-party logistics service providers (3PLs)
offer expanded services in such areas as transportation, inventory control, order processing, customer service, value added services and reverse logistics
57
Integrated Service Providers (ISPs)
companies that provide a range of logistics services
58
Sales and Operations Planning (S&OP)
a process to develop tactical plans by integrating customer-focused marketing plans for new and existing products with the operational plans of the supply chain
59
Rolling Planning Horizons
replan each period for a given number of periods in the future
60
Integrated business planning (IBP)
is a comprehensive form of S&OP that technologically enables and extends planning
61
Blockchain
a decentralized distributed, and public digital ledger that is used to record transactions across many computers so that the record cannot be altered without agreement of all network participants
62
Aggregate Production
specifics the production rates, inventory, employment levels, backlog, possible subcontracting, and other resources needed to meet the sales plan
63
Level Production Strategy
the firm produces a level rate of production all year
64
Chase Strategy
changes the production rate in each period to match the amount of expected demand
65
Mixed or Hybrid Strategy
includes some elements of level production and some of chase production
66
Yield Management
adjusts prices as demand occurs for a service
67
Dynamic Pricing
adjusting prices and communicating them quickly to customers

ISM 641 (3 decks)

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