ch13 Data Flows and Digitisation (1)

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10 Terms

1
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Data Flows
The movement of data through different points in the supply chain.
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Information Visibility
The ability to see information at various points across the supply chain as needed.
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Information Velocity
The speed at which data is generated, processed, and shared in the supply chain.
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Internet of Things (IoT)
A network of items with sensors and embedded systems that connect to the Internet, enabling data exchange between physical objects.
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Supply Chain Synchronisation
Coordinating activities and information across the supply chain to improve efficiency.
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Customer Relationship Management (CRM)
Systems and strategies applied to manage a company's interactions with current and potential customers.
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Information Accuracy
The correctness and reliability of data within the supply chain.
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Cultural Barriers
Obstacles related to the beliefs and practices of people that can impede information sharing.
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Technological Barriers
Challenges posed by the technological capabilities or limitations within the supply chain.
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Time Compression
The reduction in the time taken to deliver products and services in the supply chain.