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Chapter 13
Marketing
| Term | Definition |
|---|---|
| supply chain agility | an operational strategy focused on inducing inventory velocity and operational flexibility simultaneously in the supply chain |
| supply chain integration | when multiple firms or business functions in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer |
| demand-supply integration (DSI) | a supply chain operational philosophy focused on integrating the supply-management and demand-generating functions of an organization |
| business processes | bundles of interconnected activities that stretch across firms in the supply chain |
| customer relationship management (CRM) | allows companies to prioritize their marketing focus on different customer groups according to each groups long-term value to the company |
| customer service management process | presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced |
| demand management process | seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior |
| order fulfillment process | a highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time |
| manufacturing flow management process | concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process |
| supplier relationship management process | supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers |
| product development and commercialization process | includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms |
| returns management process | enables firms to manage volumes of returned product efficiently while minimizing return-related costs and maximizing the value of the returned assets to the firms in the supply chain |
| logistics | the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption |
| supply chain team | an entire group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer |
| inventory control system | a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturer's or a customer's needs |
| materials requirement planning (MRP) | an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer |
| distribution resource planning (DRP) | an inventory control system that manages the replenishment of goods from the manufacturer to the final customer |
| automatic replenishment system | a real-time inventory system that triggers shipments only when a good is sold to the end user |
| order processing system | a system whereby orders are entered into the supply chain and filled |
| electronic data interchange (EDI) | information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with election transmission of the needed information.. |
| build-to-stock | a production method whereby products are made in advance of demand based on forecasts and are stored until customer orders arrive |
| build-to-order (mass customization) | a production method whereby products are not made until an order is placed by a customer; products are made according to customer specifications |
| postponement | a hybrid production method whereby basic units of a finished good are manufactured in advance of actual demand and held in strategic form or location until demand occurs, when final customization takes place |
| materials-handling system | a method of moving inventory into, within, and out of the warehouse |
| logistics information system | the link that connects all of the logistics functions of the supply chain |
| smart RFID | an inventory handling and tracking system that employs radio-frequency electromagnetic fields to transfer and read product data via an electronic tag |
| outsourcing | a manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing |
| third-party logistics company (3PL) | a firm that provides functional logistics services to others |
| fourth-party logistics company (4PL) | a consulting-based organization that assesses another's entire logistical service needs and provides integrated solutions, often drawing on multiple 3PLs for actual service |
| offshoring | the outsourcing of a business process from one country to another for the purpose of gaining economic advantage |
| nearshoring | the transfer of an offshored activity from a distant to a nearby country |
| supply chain risk | any potential disruption that threatens the supply chain's efficient and effective operations |
| supply chain security | efforts made by companies to protect their in-transit inventory or value-transforming assets from external or internal threats |
| supply chain resilience | the ability of a supply chain to its ideal operational state after being disrupted |
| electronic distribution | a distribution technique that includes any kind of product or service that can be disrupted electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals |
| three-dimensional printing (3DP) | the creation of 3D objects via an additive manufacturing (printing) technology that layers raw material into desired shapes |
| sustainable supply chain management | a SCM philosophy that embraces the need for optimizing social and environmental costs in addition to financial costs |
Created by:
bdavid16
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