Supply Chain Management Modules Flashcards
Supply Chain Management
A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product.
Our typical SCM buyers
Usually include manufacturers trying to improve how their source their materials and really large companies organizing how they track their materials.
Transportation Management (TMS)
Organizes the movement of materials too and from warehouses. One of the main goal is to ensure the organization is running to most optimal routes to keeps costs as low as possible. Runs through freights and carriers costs to ensure they are optimal regarding cost and time.
What is our required question for TMS?
How many tucks do you manage? The goal of asking this is to manage whether the TMS system will be or an asset or non-asset-based company.
What is Demand Planning?
Improves the accuracy of potential demand forecasts.
What is Vendor Managed Inventory?
Typically for larger companies, gives suppliers the ability to monitor and replenish the buyers inventory.
What is Supply Chain Planning?
Forecasts customers demand and adjusts the speed and flow of production accordingly.
What is Strategic Sourcing?
Is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.
