Supply Chain Management Flashcards
Refers to a subset of supply chain management
Material Management
The sequence of events (linkages) that help a commodity move from manufacturing to market (e.g. people, equipment, transportation modes, and technology)
Supply Chain Management
T or F: Clinical laboratory test orders depend on the volume of patients, the types, and frequencies of requested lab tests
True
A category of supply chain management that’s all about speed and cost-cutting
Efficiency Category
A category of supply chain management where manufacturers produce various products for many industries
Responsive Category
Model of the Supply Chain Management:
→ offers stability in high-demand situations (product variation is very little)
→ the market doesn’t change very often—production is predictable
→ one of the most traditional models
→ e.g. Pepsi Corporation
Continuous Flow Model
Model of the Supply Chain Management:
→ manufacturing products that are trendy with short life cycles
→ products change quickly before the trends end (e.g. seasonal offers)
→ e.g. Nike
Fast Chain Model
Model of the Supply Chain Management:
→ best for businesses that are very competitive in markets
→ develops products relatively similar to its competitors and sells it to the same market as their rivals
→ e.g. General Mills (cereal brand)
Efficient Chain Model
Model of the Supply Chain Management:
→ produces specific products that cater to the various needs of the client
→ should have specific instructions from the clients before placing the order
→ combination of the agile and continuous flow model (hybrid model)
→ deals with downstream processes (distribution of goods)
→ e.g. LL Bean (backpacks)
Custom Configured Model
Model of the Supply Chain Management:
→ ideal for specialty-order items
→ the process is continuous and quick no matter if production processes and trends are good or bad
→ components include: virtual integration, process alignment, a network base, and market sensitivity
→ e.g. Zara
Agile Model
Model of the Supply Chain Management:
→ gives the business the ability to meet the demands during high peaks for prolonged periods of time
→ able to cope up with the variability in client preferences
→ components include: part segmentation, accurate stocking algorithms, and flexible planning
→ e.g. staplers, paper, writing materials, etc.
Flexible Model
The three models under the Efficiency Category
- Continuous Model
- Fast Chain Model
- Efficient Chain Model
The three models under the Responsive Category
- Custom Configured Model
- Agile Model
- Flexible Model
Refers to getting the finished product from the manufacturer to the consumer
Distribution Channels
HMO stands for?
Health Maintenance Organization
IDN stands for?
Integrated Delivery Network
T or F: It is cost-efficient to invest in information systems
True
T or F: More humans involved in the system means less potential errors
False (more humans = more room for error)
Refers to the movement, storage, flow of goods, services, and information within the supply chain
Logistics Supply Chain
A concept describing the full chain of business activities in the creation of a product or service—from production to the market and everything in between
Value Chain
Refers to the actual physical amount of an item in stock
Quantity on Hand (QoH)
Refers to “QoH - reservations to the stock + any stock of orders on the way”
Available Stock
Is determined by reviewing the previous purchase history of each supply material coupled with an understanding of the time needed for new desired material to arrive on the correct time on a regular basis
Desired Quantity on Hand (DQoH)
Is determined by taking into account the usage and consumption rate of each supplied material
Reorder Point (ROP)
Formula of Quantity to Order:
DQoH - QoH
LMIS stands for?
Logistics Management Information System
A system of records and reports (may be paper-based or electronics) used to aggregate, analyze, validate, and display data that can be used to make logistic decisions and manage the supply chains
Logistics Management Information System (LMIS)
LMIS digital tool that tracks product consumption
Dispensing or Point of Service (POS) Systems
LMIS digital tool that is used for reporting and visualizing data
Electronic LMIS
LMIS digital tool for inventory control
Warehouse Management Systems (WMS)
LMIS digital tool for product transportation
Fleeting Management Systems
LMIS digital tool for load and route planning
Distribution Planning Systems
LMIS digital tool that mainly manages core functions including finances, human resources, procurement, sales, and others
Enterprise Resource Planning Systems
Refers to a published invitation to suppliers to tender its bid during the procurement process
Contract Notice
Automates the entire procurement cycle from creating a purchase order document to finally receiving the goods and making the payment
Purchasing Software
Feature of purchasing softwares that validates recorded transactions
Audit Trails
Feature of purchasing softwares that keeps a vigil on all people associated with purchasing and making sure they adhere with terms and conditions
Compliance Management
Feature of purchasing softwares referring to legal documents that define the terms and conditions of purchase, agreed price, mode of payment, etc.
Contract Management
Feature of purchasing softwares that streamlines inventory levels
Inventory Management
Feature of purchasing softwares that strengthens and manages the relationship with the suppliers
Supplier Management
Feature of purchasing softwares that manage the supplier’s invoice unless they get complete payment for the goods dispatched
Invoice Processing
Feature of purchasing softwares where purchase orders and invite quotations come from multiple suppliers
Request for Quotation
Feature of purchasing softwares that manages a purchase catalog
Purchase Order
Feature of purchasing softwares that negotiates optimum price between the buyer and supplier
Sourcing Management
Feature of purchasing softwares that gains control over spending to make sure the agreed price is being followed
Spend Management
Feature of purchasing softwares that tracks expenditure and views the spending analytics through graphs and statistics
Spend Dashboard
Cloud-based software that enables finding, buying, and managing the spends on goods and services completely online
eProcurement Solutions
2 Activities of eProcurement Solutions
- Transactional
- Strategic
Activity of eProcurement Solutions where tasks are performed regularly and contribute towards the smooth running of each function
Transactional Procurement Activities
Activity of eProcurement Solutions related to achieving the overall aims and objectives of the procurement function
Strategic Procurement Activities
An automated process across all supplier chains that speeds up logistics timelines and eliminates manual errors
Electronic Data Interchange (EDI)
A core function of supply chain management involving the planning and execution of supply chains to meet the material requirements of a company or organization
Materials Management
Type of material management that directly affects profits—the lower the amount of material used, the lower the cost of production and the more profit is delivered
Material Requirements Planning
What is another term for Material Requirements Planning?
JIT - Just In Time Strategies
Type of material management that should be done economically and on time
Purchasing
Type of material management that can include a range of goods being held including partially finished items, goods ready for sale, and those used in production
Inventory Control
Type of material management that requires materials to be distributed to different sites or production centers, each of which needs to be continuously supplied
Material Supply Management
Type of material management where good quality materials lead to good quality products
Quality Control
Refers to supplies stored at the very location where it will be used
Point of Use Inventory
LIMS stands for?
Laboratory Inventory Management Softwares
T or F: LIMS cannot support data input or import from Excel or third-party data systems
False (they can)
What LIMS is this?
→ global leader in laboratory information management systems
→ has over 3,000 customers with a 98% satisfaction rate
→ clients include: NIH, USDA, Pfizer, Hershey, Caterpillar, and Chevron
LabWare LIMS
What LIMS is this?
→ offers an all-in-one solution for all medical laboratory and diagnostics businesses
→ effectively handles lab, finance, patient, and B2B relationship operations from one platform
→ compliant with HIPAA & ISO
CrelioHealth for Diagnostics
What LIMS is this?
→ world’s leading lab productivity solution for small and medium-sized R&D organizations
→ manages the unique workflow of a laboratory
Quartzy
What LIMS is this?
→ trusted worldwide by labs and biorepositories since 1987
→ has unparalleled accuracy, accessibility, and configurability
→ streamlines the workflow of facilities to efficiently request, ship, and assay sample inventory
Freezerworks
What LIMS is this?
→ accelerates life sciences R&D and promotes scientist collaboration without the heavy workload
→ produces faster therapeutic breakthroughs
→ centralizes and streamlines the R&D lifecycle—data acquisition and project documentation to inventory management and reporting
Genemod
What LIMS is this?
→ flexible, modern, and user-friendly LIMS utilized by research labs worldwide
→ supports CLIA and ISO 17025
→ defines the lab storage framework by using a variety of location options: rooms, storage units, shelves, racks, boxes, and positions
Lockbox LIMS
What LIMS is this?
→ offers strong data security, complimentary unlimited tech support, instrument integrations, and many more to automate workflows
→ compliant with: ISO/IEC 17025:2017, GLP, 21 CFR Part 11, HIPAA, and many more
CloudLIMS
What LIMS is this?
→ specifically built to target the needs and challenges of the Healthcare Diagnostic Industry
→ manages suppliers, payments, purchases, stock at the management and department level, automatic stock consumption, and many more
Crelio Inventory
What LIMS is this?
→ a complete laboratory sample management software solution which virtually manages samples, sources, and storage
ItemTracker
