SUPPLY CHAIN 1st EXAM- LOU

1.      a term used to describe the merger of enterprise application and infrastructure technology

1.      the uncommitted portion of a firm?s planned production, used to promise new customer orders

1.      picks the best application or module for each individual function when implementing an ERP system

1.      a fee charged back to the supplier for services or products not received by the customer

1.      a blank check to pay the supplier if the exact amount in unknown but there is a maximum amount to prevent abuse from the supplier attached at the end of PO

1.      release a specific quantity of materials to satisfy in part or whole to the Blanket PO

1.      covers a variety of items, and negotiated for repeated supply over a fixed time period

1.      a technique that uses the fixed and variable costs to determine the quantity where the total costs are equal between two or more alternative handy cost-effectiveness of sourcing decisions when cost is the most important criterion, revenue equals fixed + variable

1.      - ineffective communication between buyers and suppliers and infrequent delivery of materials, combined with production based on poor forecasts along a supply chain that results in either too little or too much inventory at various points of storage and consumption simply it causes an amplification of the variation in the demand pattern along the supply chain

1.      a systematic automated approach to change management through assessments of current processes design of better processes using modeling techniques implementation of the new processes and continuing performance assessments

1.      planning process that is used to determine the capacity needed for a specific production level

1.      a short range planning that is used to check the feasibility of the material requirements planning

1.      assumes one or more factors independent variable are related to demand and therefore can be used to predict future demand

1.      remaining focused on core principles that do not change regardless of the circumstances

1.      a production strategy that produces to match the sales quantity during each production period

1.      - planning and control system that incorporates the aggregate production plan the master production schedule the materials requirements plan and the capacity requirements plan

1.      both sides work together to maximize the joint outcome or to create a win-win result

1.      supply chain companies work together creating collaborative relationships or win-win relationships

1.      seeks input from customers on important issues such as future buying habits new product ideas and opinions about existing products

1.      constantly seeking improvements in all processes

1.      inventory management system where the physical inventory levels are counted on a continuous or daily basis

1.      sharing of a process or function between internal staff and an external provider

1.      global sourcing may involve countertrade in which goods and/or services of domestics firms are exchanged for goods and/or services of equal value or in combination with currency from foreign firms. This type of arrangement is sometimes used by countries where there is a shortage of hard currency or as a means to acquire technologies

1.      collaborative planning forecasting and replenishment business practice that combines the intelligence of multiple trading partners in the planning and fulfillment of customer demand it links sales and marketing best practices such as category management to supply chain planning and execution process to increase availability while reducing inventory transportation and logistics costs

1.      individual local purchasing depts. Make their own purchasing decisions

1.      - dealing with increasing consumer demand with current available capacity by curtailing demand, speeding up production scheduling, using a back order system, or increasing capacity

1.      directly traceable to the unit produced such as materials and labor to produce a finished good

1.      time phased finished goods inventory replenishment plan in a distribution network

1.      when negotiating objective is to seek an outcome that favors primarily one side?s interests

1.      classic independent demand inventory system that computes the optimal order quantity to minimize total inventory costs

1.      a variation of the classic EOQ model used to determine the most economical number of units to produce

1.      assists in new product design to ensure cost effect design choices, develop alternative conceptual solutions select the best components and technologies and help in design assessment

1.      suppliers are the ones who have the raw materials and customers are the wholesale distributors

1.      used fixed parameters to determine the optimal order quantity to minimize total inventory costs

1.      end product manufacturing firm

1.      difference between actual quantity or demand and the forecast

1.      using both centralized and decentralized purchasing, decentralize at corporate level and centralize procurement at business unit level or the other way centralize at corporate level to negotiate national contracts and decentralize buying at the business unit level

1.      reversing the decision to outsource or in fact make rather than buy

1.      there are those cannot be traced directly to the unit produced and synonymous with manufacturing overhead

1.      - raw materials for conversion purposes services capital repair maintenance and operating supplies

1.      global sourcing from relaxing trade barriers, free trade, and expanding of supply bases

1.      request for qualified suppliers to submit bids for a contract suppliers are asked to bid given certain opening and closing dates of the bid basis for awarding a contract is preset and binding

1. forecasting method in which a group of experts collectively develop a forecast

1. broad label used to describe an older information system that usually works at an operational level to schedule production within a single facility

1. production strategy that uses a constant output rate and capacity while varying inventory and backlog levels to handle the fluctuating demand pattern

1. creating quantity discounts, less costly volume shipments, other favorable purchase terms

1. forecasting method in which the trend can be estimated using simple linear regression to fit a line to a time series of historical data

1. make custom products based on orders from customers resulting in long lead times and higher unit costs

1. medium range plan and is more detailed than the aggregate production plan

1. moderate strategy that adjusts capacity in small amounts in response to demand and changing market conditions

1. import quotas license agreements embargoes laws and other regulations imposed on import and exports

1. when fluctuation exchange rates affect costs for production warehousing and purchasing selling prices

1. raising the final requirements of the component beyond 100 percent in a super bill of materials to cover uncertainty

1. graphic technique that prioritizes the most frequently occurring problems or issues, problems falling into the most frequently occurring category be assigned the highest priority and managed closely

1. guarantee that work of bidder meets specification and will be completed on time

1. provide constructive performance feedback to suppliers to enhance the customer/supplier relationship

1. small cash reserve maintained by a mid level supervisor to purchase materials and gain full reimbursements

1. used to release MRs for when firms purchase components to make goods over a long period of time, place orders directly with the supplier

1. tentative segment, typically stretches from the end of the firmed segment to several weeks farther into the future

1. when you coordinate and integrate these processes among the focal firm and participants of its supply chain

1. consists of different products that share the same characteristics components or manufacturing processes

1. impact of a change in purchase spend on a firm?s profit before taxes

2. Public procurement/purchasing- management of purchasing and supply management function of government and nonprofit sector

1. when wholesaling and retailing focus on location and logistical issues

1. one variation of the class EDQ model where in purchase is allowed to vary with the quantity purchased

1. technology that enables huge amounts of information to be stored on chips and read at a distance by readers without requiring line of sight scanning

1. request for proposal will be issued instead in the component is pretty complicated and tech specs cannot be determined for the RFQ propose new materials and tech to exploit suppliers

1. request for quotation to acquire as estimate for a MR before an order is place, when no supplier is identified quotes from various suppliers are obtained to fulfill the MR

1. firm?s net income over total assets

1. managing supply and demand, sourcing raw materials and parts, manufacturing and assembly, warehousing and inventory tracking, order entry and order management, distribution across all channels, and delivery to the customer.

1. - reduction of components, supplies, or standard materials, used in the product or products process design.

1. total quality management in which maximum quality is ensured from suppliers to internal production facilities

1. extension of blanket PO to require the supplier to maintain a specific amount of inventory available at any time for the purchaser.

1. with suppliers warehousing and transport companies distributors and customers who are good at what they do

1. managing the firm?s external resources in ways that support the long term goals of the firm

1. any activity that a buyer undertakes to improve a supplier?s performance and/or capabilities to meet the buyer?s short and long-term supply needs lack of suitable suppliers, firms assist existing or new suppliers to improve processing capabilities quality delivery and cost performance by tech and financial assistance

1. - identification acquisition access positioning and management of resources the organization needs or potentially needs in the attainment of its strategic objectives

1. represent either increasing or decreasing movement over time and are due to factors such as population growth population shifts cultural changes and income shifts linear s curve exponential or asymptotic

1. uses historical data to generate a forecast and works well when the demand is fairly stable over time