BU375 - Chapter 10

What is a supply chain?
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Terms in this set (23)
What is an electronic data interchange (EDI)?A computer-to-computer exchange of business documents.What is point-of-sale data?An instantaneous computer record of a sale.What is radio frequency identification (RFID)?A technology that sends product data from an item to a reader via radio waves.What is the Internet of Things (IoT)?A network that extends Internet connectivity beyond standard devices like desktops, laptops, and smart phones to a network of non-Internet physical devices and everyday objects like vehicles and home appliances, as well as components of machines.What is blockchain?A digital distributed (or shared) ledger that can be programmed to record financial and other transactions that is incorruptible and secure.What is involved in supply chain integration?- Information sharing among supply chain members - Collaborative planning, forecasting, replenishment, and design - Coordinated workflow, production and operations, procurement - Adoption of new business models and technologiesWhat is collaborative planning, forecasting, and replenishment (CPFR)?A process for two or more companies in a supply chain to synchronize their demand forecasts into a single plan to meet customer demand.What is enterprise resource planning (ERP)?Software that integrates the components of a company by sharing and organizing information and data.What are key performance indicators (KPIs)?Metrics used to measure supply chain performance.What is inventory turnover (or turns)?A supply chain performance metric calculated by dividing the cost of goods sold by the average aggregate value of inventory.What is the days of supply formula?What is the fill rate?The fraction of orders placed by a distribution centre within a specific time period.What is the supply chain operations reference (SCOR)?A cross-industry supply chain diagnostic tool maintained by the APICS Supply Chain Council.