29 Cards in this Set
| Front | Back |
|---|---|
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Who are second tier Suppliers?
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Raw Material Suppliers
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Who are first tier suppliers?
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Intermediate Component Suppliers
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Who are 1st tier customers?
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Wholesalers, Distributers
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Who are second tier customers?
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Retailers
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What is supply chain management?
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The real world integration of chain supply and demand within firms management and across firms to meed the needs of the customers.
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What flows from the customer to the suppliers?
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What flows from the customer to the suppliers?
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What flows from suppliers to customers?
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Product, service, and credit flow.
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What is the bullwhip effect?
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“small changes in customer demand ripplethrough to create larger and larger changes as orders move through the supplychain”
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What is the definition of purchasing?
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key business function for acquiringmaterials, services, & equipment
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What is the definition of contracting?
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term often used for the acquisition ofservices
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What is outsourcing?
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buyingmaterials and components from suppliers instead of making them in-house. Thetrend has moved toward outsourcing.
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What is Backwardvertical integration?
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refersto acquiring sources of supply
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What is Forwardvertical integration?
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refersto acquiring customer’s operations.
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What kind of a decision is the Make-Or-Buy decision?
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The Make or Buy decision is a strategicdecision.
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Third-party Logistics Provider?
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◦Anexternal supplier that performs all or part of a company’s logistics functions
◦Mayinclude transportation, warehousing, distribution, related financial services,vendor managed inventory, etc.
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What is Qualitative Forecasting?
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Forecasting based on opinion and intuition. Generally used when data are limited,unavailable, or not currently relevant.
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What is quantitative forecasting?
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Forecasting that usesmathematical models and historical data. Historical data is used to predictfuture demand.
◦TimeSeries Analysis (most frequently used)
◦CausalRelationships
◦Simulation
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What is the Delphi Method?
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A forecasting method based on the results of questionnaires sent to a panel of experts
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What is Vendor Managed Inventory and why is it good?
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suppliers manage buyer inventory to reduceinventory carrying and stock out costs for the buyer.
o Reducethe bull-whip
o Supplierhas more control of what the customer see of their product
o Managetheir outbound stocking.
o Avoidsill advised customer orders
o Supplierdec…
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What is Dependent Demand?
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– if building a car, trying to forecast all thenuts, bolts, and parts individually.
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What is independent demand?
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I am going to build X number of cars so I needthis many nuts, bolts, etc.
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What is operations Planning?
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Firmsmust determine how much of their productto produce or servicewill be utilized in a given time period.
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What is Materials Plans?
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How much do we need to produce?
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What is capacity plans?
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How much capacity do we need to produce our output.
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In reference to materials and capacity planning, what happens in the long range?
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Resource Requirement Planning (RRP) and Aggregate Production Planning (APP)
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In reference to materials and capacity planning, what happens in the medium range?
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Distribution Requirement planning first, then
Rough-cut capacity planning and Master Production Scheduling
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In reference to materials and capacity planning, what happens in the short range?
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Capacity Requirement Planning (CRP) and Material Requirement Planning (MRP)
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What is materials requirement planning?
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is the logic for determining thenumber of parts, components, and materials needed to produce a product.
MRPprovides time schedulinginformation specifying when each of the materials, parts, and components shouldbe ordered or produced.
Dependentdemand drives MRP.
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What is ERP?
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Enterprise Resource Planning Systems (ERP) -information system connecting all functional areas and operations of anorganization and in some cases, suppliers and customers via common softwareinfrastructure and database
-- ERP provides means for supply chain members toshareinformation s…
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SCM 301: FINAL EXAM