Ch 01 - Intro to Supply Chain Management

supply chain management

coordination of the network of otherwise independent trading partners who create a desired product or service and then move it through the supply chain to customers

materials requirements planning

a time-phased method of determining what materials are needed and when to support the production plan

manufacturing resource planning

a method for the effective planning of all resources of a manufacturing company

collaborative planning, forecasting, and replenishment (CPFR)

a process that helps trading partners jointly plan key supply chain activities

sales and operations planning (S&OP)

a process that integrates customer-focused marketing plans with the management of the supply chain

just-in-time (JIT)

a philosophy of manufacturing based on the elimination of waste and continuous improvement

total quality management (TQM)

a management approach where all members of an organization of quality

logistics

focuses on moving products or materials most efficiently to arrive at the right place and time

forecasting and demand planning

forecasting the demand for a p/s so it can be produced and delivered more efficiently and satisfy customer needs

planning systems

the process and tools used to manage a company’s resources to achieve the company’s goals

inventory management

the activities and techniques used to plan and control the desired levels of items needed to support production

process management

using LEAN manufacturing to improve the flow of materials and eliminate waste in the process, and using Six Sigma to improve quality compliance across all suppliers

purchasing management

responsibility for acquiring the materials, suppliers, and services the company needs to provide their products and services to the market

strategic sourcing

a comprehensive approach for locating and sourcing key material and service suppliers - includes a focus on developing long-term relationships

supplier relationship management

comprehensive approach to managing a company’s long-term interactions with the key organizations that supply the materials and services that the company needs

warehousing

the activities related to receiving, storing, and shipping materials to and from production or distribution locations

transportation

planning, scheduling, and controlling activities related to mode, carrier, and movement of inventories into and out of a company

distribution

the activities associated with moving finished goods from manufacturer to the customer

international trade management

exchanging g/s across international borders or territories

customer relationship management

strategies to ensure deliveries, resolve complaints, improve communications, and determine service requirements

service response logistics

the management and coordination of the company’s activities while the the service is being performed

enabling systems

all the systems, processes, and tools that support and facilitate a company’s ability to manage the supply chain

supply chain risk and security management

the series of strategies and activities for continuously monitoring risks and enhancing the security of the supply chain to reduce vulnerabilities and ensure business continuity

performance management

system for collecting, measuring, and comparing a measure to a standard for a specific criterion for an operation, item, service, business, etc

project management

the use of skills and knowledge in coordinating, organizing, planning, scheduling, directing, controlling, monitoring, and evaluating prescribed activities to ensure that the stated objectives of a project are achieved

make-to-stock

producing finished products based on anticipated demand before receipt of an actual customer order

make-to-order

producing finished products in response to actual demand, i.e., only after an actual customer order is received

supply chain risk management

a systematic process for managing supply chain risk by identifying susceptibilities and threats throughout the supply chain and developing mitigation strategies to combat those threats

supply chain resilience

the ability to quickly respond to and recover from supply chain disruptions through flexible contingency planning and forecasting without significantly impacting production or shipments

cyber supply chain risk management (C-SCRM)

process of identifying, assessing, and mitigating the risks associated with the interconnected nature of product and service supply chains

supply chain visibility

a company’s ability to get a detailed view of its products as they move through the supply chain

data collection

data is collected from internal and external sources and technologies

data storage and analysis

data is stored where it can be processed and analyzed

data display and sharing

supply chain professionals can use real-time dashboards and on-demand reports to explore specific topics and use cases

circular supply chain

closed-loop system that aims to reduce waste and extend the life of resources by using materials and goods for as long as possible

supply chain as a service (SCaaS)

a highly flexible model that outsources supply chain management operations to one or more third parties