MGKT CHAPTER 14
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Define the term 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
Define the term Supply Chain Management
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
Discuss the benefits of suply chain management
- Communicator of customer demand from point of sale to supplier
- Physical flow process that engineers the movement of goods
Discuss the concept of supply chain integration and explain why each of the six types of integration is important
- Relationship Integration
- Measurement Integration
- Technology and planning Integration
- Material and service supplier Integration
- Internal Operations Integration
- Customer Integration
Describe Relationship Integration
The ability of two or more companies to develop social connections that serve to guide their interactions when working together.
Decribe Role Specificity
When each firm in a supply chain has clarity in terms of knowing which firm is the leader, which firms are the followers, and which responsibilities are assigned to each firm.
Decribe Measurement Integration
The performance assessment of the supply chain as a whole that also holds each individual firm or business unit accountable for meeting its own goals
Describe Technology and planning integration
The creation and maintenance of information technology systems that connect managers across and through the firms in the supply chain
Describe Internal Operations Integration
Links internally performed work into a seamless process that stretches across departmental and/or functional boundaries, with the goal of satisfying customer requirements
Describe Customer Integration
A competency that enables firms to offer long-lasting, distinctive, value-added offerings to those customers who represent the greatest value to the firm or
Identify the eight key processes of excellent supply chain management and discuss how each of these processes impacts the end customer
Customer Relationship Management Process
The prioritization of a firm’s marketing focus on different customer groups according to each group’s long-term value to the company or supply chain; designed to identify and build relationships with good customers.
Customer Service Management Process
A multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced; designed to ensure that customer relationships remain strong.
Demand Management Process
The alignment of supply and demand throughout the supply chain to anticipate customer requirements at each level and create demand-related plans of action prior to actual customer purchasing behavior.
Order Fulfillment Process
A supply chain management process that involves generating, filling, delivering, and providing on-the-spot service for customer orders.
Manufacturing Flow Management Process
A process that ensures that firms in the supply chain have the resources they need
Supplier Relationship Management Process
A supply chain management process that supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers
Decribe Returns Management Process
A process that enables firms to manage volumes of returned product efficiently,while minimizing costs and maximizing the value of the returned assets to the firms in the supply chain.
Discuss the key strategic decisions supply chain managers must make when designing their companies’ supply chains
Discuss new technology and emerging trends in supply chain management.
- Advanced computer technology
- Outsourcing of logistics functions
- Electronic distribution
bundles of interconnected activites that streatch across firms in the supply chain
Product development and commercialization process
includes the groups of activites that facilitates the joint development and marketing of new offerings among a group of supply chian partner firms
the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of orgin to point of consumption
logistics information system
the link that connects all of the logistics functions of the supply chain
supply chain team
an entier group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer
mass customization (build-to-order)
a production method whereby products are not made untill an order is placed by the customer; products are made according to customer specifications
Just-in-time production (JIT)
a process that redefines and simplifes manufacturing by reducing inventory levels and deliverying raw materials at the precise time they areneeded on the production line
order processing system
a system wherby 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, imrove cash flow, streamline operations, and increase the speed and accuracy of inforation transmission
inventory control system
a method of developing and maintaing an adequate assortment of materials or products to meet a manufacturer's or a customer's demand
materials requirment planning (MRP) (materials management)
an inventory contorl system that manages the replnishment of raw materials, supplies, and componets from the supplier to the manufactuer
distribution resource planning (DRP)
an inventory control system that manages the replenishment of goods from the manufactuer to the final consumer
a method of moving inventory into, within, and out of the warehouse
outsourcing (contract logistics)
a manufactuer's or supplier's use of an independed third party to manage an entire fuction of the logistics system, such as transportation, warehousing, or order processing
a distribution technique that includes any kind of product or service that can be distrbuted electronically, wheater over traditional forms such as fiber-optic cable or through satelite transmission of electronic signals
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