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Supply Chain
The connected chain of all business entities, both internal and external, that perform or support the logistics function.
Supply Chain Management
A system that coordinates and integrates all activities performed by supply chain members into a seamless process, enhancing customer and economic value.
Supply Chain Agility
An operational strategy focused on creating inventory velocity and operational flexibility simultaneously in the supply chain.
Supply Chain Orientation
A system of management practices consistent with a 'systems thinking' approach.
Supply Chain Integration
When multiple firms or business functions coordinate their activities and processes to satisfy the customer seamlessly.
Demand-Supply Integration (DSI)
A supply chain operational philosophy focused on integrating supply-management and demand-generating functions.
Business Processes
Bundles of interconnected activities that stretch across firms in the supply chain.
Customer Relationship Management (CRM)
A process that prioritizes marketing focus on different customer groups according to their long-term value.
Customer Service Management
A process that presents a unified response system to customers' complaints, concerns, and questions.
Demand Management
A process that aligns supply and demand by anticipating customer requirements and creating related plans.
Order Fulfillment
A highly integrated process requiring collaboration from multiple companies to satisfy customer needs.
Order Cycle Time
The time delay between placement of a customer's order and the receipt of that order.
Manufacturing Flow Management
A process ensuring that firms have the resources to manufacture and move products flexibly through production.
Supplier Relationship Management
A process that supports manufacturing flow by maintaining relationships with valued suppliers.
Product Development and Commercialization
Activities facilitating joint development and marketing of new offerings among supply chain partners.
Returns Management
A process that enables firms to manage returned products efficiently while maximizing value.
Sustainable Supply Chain Management
A philosophy that optimizes social and environmental costs in addition to financial costs.
Outsourcing
Use of an independent third party to manage an entire function of a logistics system.
Third-Party Logistics Company (3PL)
A firm that provides functional logistics services to others.
Fourth-Party Logistics Company (4PL)
A consulting-based organization providing integrated logistical solutions.
Offshoring
The outsourcing of a business process from one country to another for economic advantage.
Nearshoring
The transfer of offshored activity from a distant to a nearby country.
Public-Private Partnerships (PPPs)
Collaborative agreements to address large-scale problems for both company and societal interests.
Electronic Distribution
A technique involving any product or service that can be distributed electronically.
Three-Dimensional Printing (3DP)
The creation of objects using additive manufacturing technology.
Big Data
Large-scale datasets that exceed current analytical capabilities.
Cloud Computing
The practice of using remote servers for storing, managing, and processing data.
Supply Chain Analytics
Data analyses that enhance design and management of the supply chain.
Marketing Channel
A set of interdependent organizations easing the transfer of ownership as products move from producer to consumer.
Channel Members
All parties in the marketing channel who negotiate and facilitate the product change of ownership.
Form Utility
Elements of a product's composition and appearance that make it desirable.
Time Utility
Customer satisfaction gained by making a product available at the appropriate time.
Place Utility
Usefulness of a good based on its location availability.
Exchange Utility
Increased value of a product during the transfer of ownership.
Merchant Wholesaler
An institution buying goods from manufacturers to resell to businesses or other retailers.
Agents and Brokers
Wholesaling intermediaries who facilitate sales without taking title to a product.
Retailer
A channel intermediary that sells mainly to consumers.
Direct Channel
A distribution channel where producers sell directly to consumers.
Dual Distribution
Using two or more channels to distribute the same product to different markets.
Nontraditional Channels
Channels that facilitate unique market access for products and services.
Strategic Channel Alliance
A cooperative agreement between firms to use each other's distribution channels.
Gray Marketing Channels
Unintended secondary channels that often flow illegally obtained products.
Reverse Channels
Channels enabling customers to return products or components for reuse.
Drop and Shop
A system allowing customers to return used products at store entrances.
Digital Channels
Electronic pathways allowing flow of products and information from producer to consumer.
M-commerce
The ability to conduct commerce using mobile devices.
Intensive Distribution
Distribution aimed at having a product available in every outlet where target customers might buy.
Selective Distribution
Distribution achieved by screening dealers to retain only a few in any area.
Exclusive Distribution
Distribution that establishes one or a few dealers within a given area.