Supply Chain Management Final Ch. 7-12 Flashcards

Flashcards for Supply Chain Management Final Exam Review

Supplier Relationship Management (SRM)

Strategic planning and managing interactions with suppliers to maximize value.

Key elements for Strategic Partnerships in SRM

Trust, shared vision, personal relationships, and continuous improvement; required for strategic partnerships.

Supplier Evaluation

Using performance metrics (cost, quality, delivery, etc.) and scorecards to assess suppliers.

Supplier Development

Aims to improve supplier capabilities through training and information sharing.

SRM Systems

Automation, integration, visibility, collaboration, and optimization.

Operations Management (OM)

Converting inputs (raw materials) into outputs (goods/services) efficiently and effectively.

Efficiency

Doing things right with minimum resources.

Effectiveness

Doing the right things for best outcomes.

Manufacturing Strategies

Make-to-Stock (MTS), Make-to-Order (MTO), Assemble-to-Order (ATO), Engineer-to-Order (ETO).

Manufacturing Processes

Job Shop, Batch, Line Flow, Continuous Flow.

LEAN

A philosophy focused on eliminating waste (non-value-added activities) and improving flow.

LEAN Tools

Value Stream Mapping, Kanban, 5S, Kaizen (Continuous Improvement), Small Batch Scheduling.

Six Sigma

Data-driven approach to reduce defects (<3.4 per million); uses DMAIC and DMADV methodologies.

TQM (Total Quality Management)

Broad commitment to quality across the company, tied to Six Sigma.

Logistics

Planning, implementing, and controlling the flow of goods from origin to consumption.

Warehousing Types

Public, Private, Contract.

Warehouse Operations

Receiving, Storage, Picking, Packing, Shipping, plus inspections and returns.

Types of Warehouses

Consolidation, Break-Bulk, Cross-Docking (minimizes inventory holding).

Warehouse Network Strategies

Single, Multiple, Hybrid (Hub and Spoke).

Transportation Modes

Truck (most flexible), Rail, Air, Pipeline, Water.

Transportation Providers

Common, Contract, Private, Exempt Carriers.

Reverse Logistics

Handling returned goods, repairs, recycling—critical to sustainability and service.

Third-Party Logistics (3PL)

Outsourced logistics services.

Fourth-Party Logistics (4PL)

Manages multiple 3PLs.

Location Strategies

Market-positioned (near customers), Product-positioned (near suppliers), Intermediately-positioned.

7 Wastes in LEAN

Defects, Overproduction, Waiting, Non-utilized talent, Transportation, Inventory, Motion, Extra-processing (DOWN TIME).

Logistics

Plans, implements, and controls flow/storage of goods from origin to consumption.

Warehousing

Provides time/place utility—types include public, contract, private.

Reverse Logistics

Movement of goods from customer back to origin (returns, recycling).

Global SCM

Managing international flows of goods, information, and money.

Global sourcing

Purchasing from global suppliers for cost and quality benefits.

Terms of Trade (Incoterms)

Define who is responsible for transportation, insurance, duties.

Customs and compliance

Understanding import/export laws and documentation.

SC Integration

Collaboration among internal and external partners to improve performance.

Internal integration

Cross-functional teams, ERP systems, shared KPIs.

External integration

Customer and supplier alignment, shared data, collaborative planning.

Strategic Fit

Aligning SC strategy with business strategy (e.g., responsiveness vs efficiency).

Performance measurement

Essential to monitor, control, and improve SC processes.

Balanced Scorecard

Measures across 4 areas—financial, customer, internal process, learning & growth.

SCOR Model

Plan, Source, Make, Deliver, Return – standardizes SC performance.

SMART Goals

Specific, Measurable, Achievable, Relevant, Time-bound.

Benchmarking

Comparing performance to industry bests or competitors.