| Term | Definition |
|---|
| Supply Chain Management | Management of activities that procure materials and services, transforming them into intermediate goods and final products, and delivering the products through a distribution system is called |
| Make or Buy Decision | A choice between producing a component or service in house or purchsing it from an outside source is called |
| Reasons for Making | Maintain core competence, Lower production cost, Unsuitable suppliers are all |
| Reasons for Buying | Frees management to deal with iits core competence, lower acquisition cost, preserve supplier commitment are all |
| Reasons for Buying | Reduce inventory costs, Ensure alternative sources, Items is protected by a patent or trade secret are all |
| Reasons for Making | Remove supplier collusion, Obtain desired quality, Protect personnel from a layoff are all |
| Outsourcing | Transferring a firm's activities that have traditionally been internal to external suppliers is called |
| Supply Chain Strategies | The approach of negotiating with many suppliers and playing one supplier against another is called |
| Princinples and Standards of Ethical Supply Management Conduct | Loyalty to your organization; Justice to those with whom you deal; Faith in your profession is |
| compromising practice. | Avoid the internet and appearance of unethical or |
| supplier relationships. | Promote positive__________ ___________. |
| spirit of laws. | Know and obey the letter and ________ ______ _______. |
| agreements. | Avoid improper reciprocal _____________. |
| Virtical Integration | Developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor is called |
| Virtual Companies | Companies that rely on a variety of supplier relationships to provide services on demad. Also known as hollow corporations or network companies are called |
| Bullwhip Effect | Increasing fluctuation in orders that often occurs as orders mov through the supply chain is called |
| Pull Data | Accurate sales data that initiate transactions to pull product through the supply chain is called |
| Pull Data | Can happen at the point of sale or ordering online is |
| Blanket Orders | A long term purchasee commitment to a supplier for items that are to be delivered against short term releases to ship is called |
| Postponement | Delaying any modifications or customization to a product as long as possible in the production process is called |
| Drop Shipping | Shipping directly from the supplier to the end consumer rather than from the seller, saving both time and reshipping costs is called |
| Pass Through Facility | Expedites shipment by holding merchandise and delivering from shipping hubs is called |
| Channel Assembly | Postpones final assembly of a product so the distribution channel can assemble it is called |
| Logistics management | An approach that seeks efficiency of operations through the integration of all material acquistion, movement, and storage activities is called |
| Trucking, Railroads, Airfreight, Waterways, and Pipelines | The Five Distribution Systems are |
| Pipelines | The dstribution system used for transporting gas is |
| Waterways | The distribution system used for transporting chemicals is |
| Airfreight | The distribution system used for transporting perrishable items like flowers is |
| Truck | The distribution system used for transporting manufactured goods is |
| Railroads | The distribution system that transports 90% of coal and 67% of autos is |
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