| Term | Definition |
|---|
| Management of activities that procure materials and services, transforming them into intermediate goods and final products, & delivering the products through a distribution system is | Supply chain management |
| A choice between producing a component or service in house or purchasing it from an outside source is | Make or buy decision |
| Transferring a firm's activities that have traditionally been internal to external suppliers is | Outsourcing |
| Developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor is | Vertical Integration |
| A Japanese term that describes suppliers who become part of a company coalition is | Kerietsu |
| Companies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations or network companies is | Virtual Companies |
| The increasing fluctuation in orders that often occurs as orders move through the supply chain is | Bullwhip Effect |
| Accurate sales data that initiate transaction to pull product through the supply chain is | Pull data |
| Fixing responsibility for monitoring and managing inventory for the retailer is | Single Stage Control of Replenishment |
| A system in which a supplier maintains material for the buyer, often delivering directly to the buyer's using department is | Vendor-managed Inventory (VMI)A long term purchase commitment to a supplier for items that are to be delivered against short term releases to ship is |
| A long term purchase commitment to a supplier for items that are to be delivered against short term releases to ship is | Blanket Order |
| Delaying any modifications or customization to a priduct as long as possible in the production process is | Postponement |
| Shipping directly from the supplier to the end consumer rather than from the seller, saving both time and reshipping costs is | Drop shipping |
| Expedites shipment by holding merchandise and delivering from shipping hubs is | Pass Through Facility |
| Postpones final assembly of a product so the distribution channel can assemble it is | Channel Assembly |
| Purchaing facilitated through the internet is | E-procurement |
| A standardized date transmittal format for computerized communications between organizations is | Electronic Data Interchange (EDI) |
| A shipping notice delivered directly from vendor to purchaser is | Advanced Shipping Notice (ASN) |
| Approaches taken by supply chain personnel to develop contractual relationships with suppliers is | Negotiation Strategies |
| Cost of goods sold divided by average inventory is | Inventory Turnover |
| An approach that seeks efficiency of operations through the integration of all material acquistion, movement, and storage activities is | Logistics Management |
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