Supply chain
A sequence of organizations - their facilities , functions , and activities - that are involved in producing and delivering a product or service
Equally important in both service and manufacturing 
sometime referred to as value chains

UPS supply chain services
world port 
they choose louisville bec of location, cost, seasonal changes.
ups is invested in Louisville the invested billions in expansions

APICS is the most important thing people look at for certification in supply chain
true

supply chain term know


what are the 3 of the supply chain
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suppliers 
transformation (value add)
Customer

Product/service Flow
Information Flow 
Funds Flow (the money)
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logistics
the movement of goods, services,cash and information in a supply chain

Resiliency
the ability of a business to recover from a event that negatively impact the supply chain

Purchasing cycle
series of steps that begin with request for purchase and end with notification of shipment received in satisfactory conditions

Trends affecting supply chain design and management
moving rapidly away from lowest price as key criteria 
Understanding and managing risks
measuring supply chain ROI
"Greening" the supply chain 
Integrating IT

E business
the use of electronic technology to facilitate business transactions

B2B 665
growing portion of e business involves business to business commerce rather than business to consumer commerce.
B2B exchange can improve supply chain

supply chain managers
they are become part of the industry planning 
people at various levels of the organization who are responsible

Scor mode and the 5 elements
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understand and managing supply chain effectively 

Planning, source, make, deliver, return
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Velocity 
Inventory V
information V
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speed 
the rate at which inventory goes through the supply chain 
the rate at which information is communicated in a supply chain

Cash to cash cycle
time where we spend money and the time we get that money back

Global supply chains and if you go into international market
if we make this choice you must understand how this different cultures work and people differences

import considerations in outsourcing
considerations for both service and manufacturing 
<strong>price should not be primary determinant</strong>
what are we "giving away"

CPFR (collaborative planing forecasting replenishment)
Focuses on information sharing among trading partners 
this should help both companies

Supplier Relationship Management
type of relationship is often governed by the DURATION <strong></strong>OF THE TRADING RELATIONSHIP
short term 
medium term (accountant)
long term  (marriage)

Strategic Partnering
two or more organizations that have complementary products or services join so that each may realize a strategic benefit (ex Louisville bridge, taco bell and Doritos)

Inventory Management
Inventory location ( centralized or decentralized)
Inventory velocity (speed at which goods move through supply chain)
The bullwhip effect

The bullwhip effect (ex cash for clunkers)
Inventory oscillation that becomes increasingly larger looking backward through the supply chain.( a small thing can lead to bigger problems)
the longer the chain the effect could be greater the effect

milk runs
regular load for pickup of mixed loads from several suppliers. based on concept of replenishment based on actual units consumed

cross docking
goods arriving at a warehouse from a supplier are unloaded from the supplier truck and loaded onto outbound trucks (ex Walmart)
Avoids warehouse storage

Delayed differeentiation
production of standard components and sub assemblies, which are held until late in the process to add differentiating features. (waiting untill the end to custamize it to person

Disintermediation
Reducing one or more steps in a supply chain by cutting out one or more intermediaries

Vendor managed inventory
Vendors monitor replenish inventories on site

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third part logistics  (3-PL)
fourth party logistics (4-PL)
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the outsourcing of logistics management s
everything in 3-PL buisness to customer, handles also interface with customer (ex Amazon)

Reverse logistics
the process of transporting returned items, including those returned for environmental disposal and/ or remanufacturing 
Big and growing business