Supply Chain Final

Different types of carriers

Air – plane, Rail – railroad, Sea – ship, Ground – truck or car, Pipeline – seafloor or on-land

Define logistics

The process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods from the point of origin to the point of consumption of conforming to customer requirements

Difference between batch job and one-piece flow

Batch job involves producing multiple items at once, single piece flow produces one item at a time

Intellectual property

broad categorical description for the set of intangibles owned and
legally protected by a company from outside use or implementation without consent

Two types of trucks

ltl(less than load) fl(full load)

Know what a container is

A large metal railroad box that holds vast amounts of merchandise

Know what a carrier is (UPS, FEDEX)

Any individual, company or corporation engaged in transporting shipments

Customs Broker

Individuals who move global shipments through customs for companies and handle the necessary documentation

Know what a freight forwarder is

Consolidate shipments

Collects various shipments that arrive at a regional location, (consolidator), and consolidates them into carload lots. These shipments most likely are from different customers but would not fill up a truckload individually, so they are combined

Know what the US Census Bureau is

o   The export & import statistics are initially collected and compiled in terms of approximately 8,000 commodity classifications in a Schedule B book

o   To provide detailed statistics on goods and estimates of services imported from or exported to foreign countries. The United States Code, Title 13, requires this program. Participation is mandatory. The Treasury Department assists in the conduct of this program

o   The export statistics consist of goods valued at more than $2,500 per commodity shipped by individuals and organizations (including exporters, freight forwarders, and carriers) from the U.S. to other countries.

o   The import statistics consist of goods valued at more than $2,000 per commodity shipped by individuals and organizations (including importers and customs brokers) into the U.S. from other countries

Know what an SED (EEI same thing)

o   Shippers export declaration

o   A regulatory document used by US Customs for export compliance and governmental reporting. This document is required by the U.S. Census Bureau for U.S. exports that contain a single commodity's value exceeding $2,500.00 (USD). The SED/EEI must be filed with shipments from the U.S., Puerto Rico or the U.S. Virgin Islands to foreign destinations

Know what a pro number is

Tracking number used by round shipment, a truck, used on ground shipments

House airway bill

for air shipments, agreements and terms

Customer Experience (great price and experience)

o   Customer experience is the sum of all contact, from first discovering and
researching a product to shopping and purchasing to actually using the product and following up with the brand afterwards

o   Customer experience measures how customers feel about a company overall and includes the emotional, physical, psychological connection customers have with a brand. It isn’t a one-off interaction, but rather includes the entire customer lifecycle and every touchpoint a customer has with a product or service

o   Customer experience is the total journey of a customer’s interactions with a
product or service

VOC

Voice of the customer, is a term that describes your customer's feedback about their experiences

Know the definition of customer relationship management

o   The infrastructure that enables customer value and motivates customers to
remain loyal to a specific business

o   Practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle

o   Improving business relationships with customers, assisting in customer
retention and driving sales growth

o   CRM systems give customer-facing staff detailed information on customers'
personal information, purchase history, buying preferences and concerns

Know the difference for process for a service and a product

o   Services are an intangible process that cannot be weighed or measured,
whereas a good is a tangible output of a process that has physical dimensions

o   Service = Barber

o   Product = Shampoo

Know what process integration is

Sharing information and coordinating resources to jointly manage a process

Know what silo mentality is

Being unaware of how your department’s actions affect another department
further down the supply chain

Know definition of risk management

The process of identifying and controlling risks/threats to an organization and its supply chain.

Know what a cyber threat is

Malicious act intended to steal or damage data or disrupt the digital wellbeing and stability of an enterprise (data breach)

Ransom Wear

An insidious type of malware that encrypts, or locks, valuable digital files and demands a ransom to release them

Know what customer lifetime value is

The present value of the future cash flows attributed to the customer during his/her entire relationship with the company

Knowing the value of a customer to your business and assessing the customer’s loyalty to your business

Know what a trade secret is

Know-how and confidential information, (think of the recipe for Coke)

What is change and change management

occurs when an organization moves from its current state of operation
to a desired future state

Know what a crisis

Critical and intense situation or event that poses a significant threat or challenge

Know what a performance review is

Assesses an employees performance

Know who the board of directors are in a company

o   Group of individuals responsible for overseeing the management and direction of the organization

o   Executive directors, non-executive directors, independent directors, chairmen

Identify 3 of the 8 stages of change

Shock, denial, anger, frustration, acceptance, practice, realization, integration

Know the difference between mass production and mass customization

o   Mass production: making many of the same thing

o   Mass customization: personalized product to meet a consumers’ diverse and changing needs at near mass production prices

Know upper management, C-suite

Run day to day operation of corporation, identify and manage risk, report to board of directors

Know what a fiscal calendar is

12-month period that an organization uses for accounting, budgeting, and financial reporting purposes. Can start and end in any month

Know what a customer centric organization is

o   Creating a positive consumer experience at the point of sale and post-sale.
A customer-centric approach can add value to a company by enabling it to
differentiate itself from competitors who do not offer the same experience

o    7 pillars: Experience, Loyalty, Communications, Assortment, Promotions, Price, Feedback

Know what AI is

The idea that a computer can mimic and learn like a human mind. Possesses human characteristics, such as the ability to reason, make decisions, discover meaning, generalize, or learn

Know what cognitive machine learning is

The ability of a computer to automatically learn from direct experience or instruction from a human without being explicitly programmed. The computer learns over time to analyze data, looking for patterns that will aid in better decision making. The more data it reads and analyzes, the more informed it becomes

Know what big data is

Large data sets that may be analyzed using statistical methods to identify patterns, trends, and associations, especially relating to human
behavior

Know what IoT is

Internet of things, connecting devices/sensors over the internet, letting
them talk to us and each other and letting them collect data

Name 2 most important factors when choosing a shipment carrier

Speed and cost

The 4^th industrial revolution

The fourth industrial revolution is the current and developing environment in
which disruptive technologies and trends such as the Internet of Things
(IoT), robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way we live and work

Know what disruptive technology is

a technology that displaces an established technology and shakes up
the industry or a ground-breaking product that creates a completely new industry

What is a Sensor

send information about the devices they are a part of or about the humans that use these devices or sensors, for monitoring, analysis, maintenance, control, and improvement, in this digital age

Placement of retail stores, what did they look at for this

Follows population movements

Two factors that is added to population move after WW2

Automobiles and highway construction, put department stores in suburbs

Know the terrain test

scoping things out