Supply Chains Flashcards
Effectiveness
the degree to which a goal is achieved
Efficiency
the relationship between resources expended and benefits gained in achieving a goal
Customer Relationship Management
CRM systems are designed to support
- Marketing (market research + targeted marketing)
- Sales
- Customer Service
Supply Chain
consists of procurement of raw materials, processing materials into goods (manufacturing), and delivering goods
Supply Chain Management (SCM)
monitoring, controlling, and facilitating supply chains
Material Requirements Planning (MRP)
inventory control
- determines when inventory needs to be restocked
- can predict future needs based on long-term demand forecasts
- takes customer demand as input, works back to calculate resources needed to produce goods
Bill of Materials (BOM)
list of all raw materials and subcomponent demands to produce a product
Economic Order Quantity (EOQ)
optimal quantity of a raw material that minimizes overstocking and saves cost, without missing production deadlines
Master Production Schedule (MPS)
specifies how production capacity is to be used to meet customer demands
- just-in-time manufacturing
- ships parts directly to assembly lines
- save on the cost of warehousing raw materials and parts
Manufacturing Resource Planning 2
MRP II
combines Material Requirements Planning with other related activities to plan the entire manufacturing process
- uses Master Production Schedule
Enterprise Resource Planning (ERP)
manages daily operations and facilitates planning and drives efficiency