Mgmt 4 Lamb/Hair/McDaniel Chapter 14
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24 terms
Terms | Definitions |
|---|---|
 Supply chain | the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function |
| Supply chain managment | A management system that coordinates and integrates all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value. |
| Business processes | Bundles of interconnected activities that stretch across firms in the supply chain. |
| Customer relationship management process | Allows companies to prioritize their marketing focus on different customer goups according to each group's long-term value to the company or supply chain. |
| Customer service management process | Presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced. |
| Demand management process | Seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior. |
| Order fulfillment process | A highly intergrated process, often requireing persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time. |
| Manufacturing flow management process | Concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to products through a multi-stage production process. |
| Supplier relationship management process | Closely related to the manufacturing flow management process and contains several characteristics that parallel the customer relationship management process. |
| Product development and commercialization process | Includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms. |
| Returns management process | Enables firms to manage volumes of returned product efficiently, while menimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain. |
| Logistics | The process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption. |
| Logistics information system | The link that connects all of the logistics functions of the supply chain |
| Supply chain team | An entire group if individuals who orchestrate the movement of goods, services, and information from the source to the consumer. |
| Mass customiztion (build to order) | A production method whereby products are not made until an order is placed by the customer; products are made ccording to customer specifications |
| Just-in-time production (JIT) | A process that redefines and simplifies manufacturing by reductin inventory levels and delivering raw materials at the precise time they are needed on the production line. |
| Order processing system | A system whereby orders are entered into the supply chain and filled. |
| Electronic data interchange (EDI) | Information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduce inventory levels, improve cash flow, streamline operations, and increase the speed and accuracy of information transmission. |
| Inventory control system | A method of developing and maintaining an adequate assortment of aterials or products to meet a manufacturer's or a customer's demand. |
| Materials requirement planning (MRP)(Materials management) | An inventory control system that manages the replenishment of goods from the manufacturer to the final consumer. |
| Distribution resource planning (DRP) | An inventory control system that manages the replenishment of goods from the manufacturer to the final consumer. |
| Materials-handling system | A method of moving inventory into, within, and out of the warehouse. |
| Outsourcing (contact logistics) | A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehouseing, or order processing. |
| Electronic distribution | A distribution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through statellite transmision of electronic signals. |
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