Logistics and SC Management/UMD/Mcadam
About this set
Created by:
jsmith91 on May 14, 2012
Subjects:
Logistics and Supply Chain Management
Description:
Flashcards for the final exam at UMD with Mcadam
Log in to favorite or report as inappropriate.
Order by
96 terms
Terms | Definitions |
|---|---|
 Cost | How much is something |
| Basic customer service | Fill rate, order cycle time, cycle consistency, on time delivery |
| Quality | Service reliability, Productivity, Output of goods against input of resources |
| Customer Accommodation | Perfect orders, absolute orders, customer satisfaction report |
| Cash to cash conversion | Time required to covert inventory dollars to revenue |
| Inventory Days of supply | Total Inventory before the customer gets it |
| Dwell Time | Days of inventory sits idle |
| On shelf in stock percent | Inventory available for customers |
| Supply Chain Total Cost | All cost from all firms |
| Supply chain response time | Time it takes for supply chain to adjust for demand |
| Benchmarking | Comparing supply chain with competitors |
| Problem having a global supply chain | Geographic, Culture, Language, Documentation, Economic, Regulation |
| Import/Export | Firms using ISP to establish presence in a foreign country |
| Local Presence | Firm establishing operations, marketing, etc. in foreign country |
| Stateless Enterprise | Firm providing a local presence in foreign country |
| Global vs. Domestic Supply Chains | Performance Cycles, Transportation, Operational Considerations, Translators, Special National Product accommodations, Weight Conversion, Documentation, Counter Trade backs and Duty drawbacks, Information Systems Integration, International Alliances |
| Supply Chain Security and Risk management | Policies, producers and technology to help from assets and people from things such as theft, damage, terrorism, etc. |
| C-TPAT | A shipping country will tell the receiving country about the contents. |
| Positive factors of international sourcing | Low wage scales, Increase supplier sources, competitive pricing, Gain emerging technologies, Establish local presence in another country |
| Challenges for international sourcing | Identify capable sources, Protect intellectual property, Foreign compliance, Communication/languages, Product security, Obsolete, Total cost consideration due to specific savings |
| Considerations in international sourcing | Products with high labor costs favor foreign sourcing, High turnover, short shelf life: Unfavored, Many variations: unfavored , High value: unfavored , Slow dangerous |
| Industrial Packing | logistical packaging |
| Master Carton | grouped together to create unitization or containerization |
| Cube Out | Take up area but not total weight |
| Weight out | Take up total weight but not take up area |
| Design | Cube utilization, Unassembled products, Reduce secure packaging |
| Unitization | Cartons into one physical unit, Ridged containers, Ocean containers, Flexible containers, Palettes and Slip sheet, Package communication |
| Material Handling | Mechanized Systems, Forklifts, rider trucks, tow line, pull trailers, conveyers etc., Semi-automated systems, Automated Systems, Global Supply Chain |
| Contract/Outsourced | limited dependency, last for a specified period, firm price for services |
| Administered | a dominant firm leads relationship, sharing of some information, extended or unlimited duration. |
| Alliance/Enterprise extension | all participants agree to integration of resources to create greater efficiency, joint policies, joint operations, unlimited duration, total information sharing. This supply chain is often viewed as one entity. |
| Logistics Prior to 1950s | Logistics functions spread out and fragmented, Much waste and duplication due to little coordination and communication |
| Logistics 1950s through 1990s | Logistical functional and Organization Aggregation |
| Logistics 1990s through 2000s | Extended organization |
| Logistics Recent | Going back to fragmentation due to information systems, Timely information availability throughout the organization is the key factor |
| External Supply Chain to work correctly | Fragmented to integrated |
| Interdependence | a way develop a integrated supply chain |
| SC Trusts | Reliabitliy, Character-based, Producal trust |
| Reliability Based Trust | A firm's perception of a potential partner's actual behavior and operating performance, Partner is will to perform as promised, Partner is capable to perform as promised. |
| Character Based Trust | Based on a firm's culture and philosophy, A perception that supply chain partners are interested in each others welfare; look out for their partners, A perception of justice exist between dominant/subordinate partners |
| Distributive Justice | perception of how risks, rewards, and benefits of supply chain are shared. |
| Procedural Justice | how problems and disputes are resolved |
| Building Trust | Demonstrate reliability and capability, Full Information and explanations |
| 5 Categories of Logistics Functional Measurement | Cost, Basic Customer Service, Quality, Productivity, Customer Accommodation |
| 7 Comprehensive Supply Chain Measurements | Cash to Cash Conversion, Inventory days of Supply, Dwell Time, On Shelf In Stock Percent, Supply Chain Total Cost, Supply Chain Response Time, Benchmarking |
| Product Complexity Risks | Higher risks with higher market share versus lower risks and potential loss of business. |
| Regularity Risks | Regional, national and global regulatory agencies that can both promote and/or constrain business |
| Resource Availability Risks | Globalization may enhance some resources like labor and raw materials, but it may simultaneously put other resources like security and transportation at risk.Fuel price volatility greatly impacts the bottom line. |
| Supply Chain Expertise | Global firms will need to hold on to personnel with cross functional supply chain skills and multi-firm supply chain application experience. |
| Security Risks | Terrorist attack causing widespread disruption to customer deliveries, Customers perception of firm negligence results in negative brand equity., Significant loss of revenue due to security negligence, Increase in regulatory scrutiny due to security negligence, Legal liability of any consequences due to security negligence. |
| 10 Security Competencies | Process Strategy, Process Management, Infrastructure Management, Communication Management, Management Technology, Process Technology, Metrics, Relationship Management, Service Provider Collaboration Management, Public Interface Management |
| 7 Economic Drivers | Distance, Weight, Density, Stowability, Handling, Potential Liability, Transportation Market |
| Economy of Scale (Shipment Consolidations) | As much as you can |
| Economy of Distance | Move it as far as you can |
| Shipper | Ships to consignee, NOT THE CARRIER!!!! |
| Consignee | Receives Delivery |
| Carrier | Move from shipper to consignee |
| Agents | Carriers, shippers, consignee, Usually international, Represent carrier |
| Common Carrier | provide services to general public |
| Contract Carrier | specific contracts in place with shippers |
| Private Carrier | Shipper owned carriers |
| Exempt Carrier | Exempt from regulation based on commodities carried |
| Rail | Mostly common carriers, Dominant intercity carrier until WWII, High fixed cost, low variable cost, Most efficient in moving large tonnage over many miles |
| Motor Carriers | Truck intermodal - rail piggy back, ocean containers common, contract, private, exempt carriers, Dominant intercity carrier since WWII to this day, Speed of delivery, Door to door service, Low fixed cost, high variable cost, Most efficient for smaller shipments over fewer miles compared to rail, However, still very much used for larger loads over longer distance because of ease and flexibility. |
| Water Carriers | Common, contract and private carriers, Extremely large bulk and break bulk shipments, Limitations - range of movement and slow speed advantages- - low cost and range of freight capability |
| Air carriers | Advantages--Speed of shipmentReduced handling and damage, Better security, Reduced warehousing and inventory cost Limitations--Shipment cost, Size and weight restrictions, Low fixed cost, high variable cost, Ideal for high value items, perishables, seasonal, JIT, emergency freight |
| Pipeline | Move petroleum and natural gas products, Operates 24/7/365, No empty back hauls, Limitations - no flexibility in locations and commodities |
| Intermodal Transportation | Combines two or more modes |
| Transportation pricing strategy | Cost of service pricing, Value of service pricing, Combination pricing, Net rates |
| FOB Origin | Buyer pays shipment charges, Buyer selects carrier, Buyer assumes liability, Buyer takes title at point of origin |
| FOB Destination | Seller pays shipment charges, Seller selects carrier, Seller assumes liability, Seller retains title to destination (buyer takes title at destination) |
| Transportation Terms | Rate , Tariff, Class Rate, Classification, Minimum Charge, Surcharge, Commodity Rate, Exception Rate, FAK Rate, Joint Rate, Transit Service, Diversion, Reconsignment, Split Delivery, Detention, Demurrage |
| Class Rate | shipping rate based on product class |
| Classification | product characteristics |
| Minimum Charge | lowest charge regardless of weight and rate |
| Surcharge | transportation charge + surcharge % |
| Commodity Rate | for large quantities |
| Exception Rate | A deviation from the class rate; changes (exceptions) made to the classification |
| FAK Rate | (freight all kinds) no classification. Rates negotiated |
| Joint Rate | different rates when more than one carrier is involved |
| Diversion | Diverting shipped products to a different channel |
| Econ. Benefits of warehousing | Consolidation and break bulk, Sorting, Seasonal Storage, Reverse Logistics, Lower Total Cost , Faster Shipping, Local Presence |
| Service Benefits of warehousing | Spot stocking, Full Line Stocking, Value Added Services, Flexibility |
| Storage | inventory velocity, weight and special storage requirements |
| Combination pricing | meet in the middle between minimum cost of service and maximum value of service |
| Net rates | all inclusive price |
| Logistical strategy | achieving least total cost operations, while simultaneously maintaining flexibility |
| Warehouse's Purpose | to lower total cost and/or improve customer service by Storage of inbound material, Storage of outbound product, Postponement activities, Light manufacturing activities and assembly, Customer sequencing and assortment, Transportation consolidation, Product positioning, Verification and inspections, Retail/wholesale warehousing, Faster delivery, Cross dock opns, Provide local presence when required |
| 3 performance cycle | procurement support, manufacturing support, customer accommodation |
| Logistics within the supply chain consist of... | transportation, warehousing materials, handling, and packaging |
| 3 customer perceptions of value | Economic value, market value, and product relevancy value |
| Procurement Support Warehouses | Supply Facing warehouses in support of the procurement process |
| Manufacturing Support Warehouses | can be Supply Facing or Demand Facing warehouses in support of manufacturing plants and operations |
| Customer Accommodation Warehouses | Demand Facing (outbound, product) in support of customer service |
| Inventory Economics | Inventory level = number of stocking locations (warehouses); More inventory results in better customer accommodation, but also higher risk and cost. |
| Warehouse inventory | base, transit and safety stock |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.