Supply Chain Flashcards

Flashcards covering key concepts from the supply chain lecture, focusing on agility, adaptability, alignment, and potential pitfalls of efficiency.

Triple A Supply Chain

A supply chain that is Agile, Adaptable and Aligned.

Agile Supply Chain

A supply chain that is able to respond quickly to short-term changes in supply and demand.

Adaptable Supply Chain

A supply chain that can identify structural shifts, sometimes before they occur, and change fast.

Aligned Supply Chain

A supply chain that establishes incentives for supply chain partners and understands their business needs, while freely exchanging info.

Centralization

Can impact responsiveness in a supply chain if unchecked.

Lean Inventory

Can impact service levels if unchecked, potentially leading to stockouts.

Full Truck Loads

Can drive volatility in order patterns if used exclusively, ignoring smaller, more frequent needs.

Design for Postponement

A strategy to delay final product configuration until demand is known, enhancing agility.

Vendor Managed Inventory (VMI)

Inventory management where the vendor monitors and manages the inventory levels at the customer's location.

Hump Yard

A railroad yard where trains are broken down and reassembled using gravity to sort railcars.