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Supply Chain & Logistics

59 cards · 🇺🇸 English

How goods move from procurement to the end customer.

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Supply chain management (SCM)

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  1. 1Supply chain management (SCM)
    A system of procurement, operations management, logistics and marketing channels through which raw materials are developed into finished products and delivered to end customers
  2. 2Four basic components of a supply chain
    Procurement, operations management, logistics, and marketing channels
  3. 3Three types of activities tracked by cash flow in supply chain
    Operating, investing, and financing activities
  4. 4What does SCM aim to optimize?
    The flow of materials, information and capital from materials to production to distribution in the most economical way possible
  5. 5Supply chain resilience
    The capacity of a supply chain to persist, adapt, or transform in the face of change
  6. 6GAAP
    Generally Accepted Accounting Principles
  7. 7Three components of supply chain resilience
    Persistence (bounce back), adaptation (new normal), and transformation (fundamentally new system)
  8. 8EDI
    Electronic Data Interchange - a system for exchanging business documents electronically
  9. 9ERP
    Enterprise Resource Planning - integrated management systems
  10. 10Vertical integration in supply chains
    Integration with upstream suppliers and downstream customers in a stage 3 supply chain network
  11. 11Vendor-managed inventory (VMI)
    A system where suppliers manage inventory levels at customer locations based on agreed parameters
  12. 12OEM
    Original Equipment Manufacturer - companies that produce parts and equipment for other companies' branded products
  13. 13Reverse logistics
    The process of managing the return of goods, including recycling or returning faulty/unwanted products back to producers
  14. 14Just-in-time (JIT) manufacturing
    A production strategy where materials are ordered and received only when needed in the production process, minimizing inventory
  15. 15Lean manufacturing
    A production method focused on minimizing waste within manufacturing systems while maintaining productivity
  16. 16CSCMP
    Council of Supply Chain Management Professionals
  17. 17Supply chain control tower
    A concept combining people, process, data, organization and technology to improve end-to-end supply chain visibility
  18. 18Procurement in supply chain management
    The process of purchasing raw materials and components from suppliers
  19. 19Supply chain visibility
    Knowledge of location, production stage, and expected delivery date of materials and products throughout the supply chain
  20. 20Key functions of SCM according to CSCMP
    Planning and management of sourcing, procurement, conversion, and logistics management activities
  21. 21Work-in-process inventory
    Materials and partially finished products currently in various stages of the production process
  22. 22Extended Enterprise
    A loosely coupled, self-organizing network of businesses that cooperate to provide product and service offerings
  23. 23Agile manufacturing
    A production approach that emphasizes flexibility and rapid response to market changes and customer demands
  24. 24Keiretsu
    A Japanese term for a supply network structure involving long-term relationships between companies
  25. 25SCM 2.0
    Changes within supply chains and evolution of processes, methods and tools in the era of globalization and specialization
  26. 26Mass customization
    Manufacturing processes that are flexible enough to produce customized products efficiently at scale
  27. 27Holding cost in supply chain
    The cost of storing and maintaining inventory, including warehousing, insurance, and capital tied up
  28. 28Cycle time compression
    Reducing the time required to complete supply chain processes, leading to improved responsiveness and efficiency
  29. 29Demand management
    The process of forecasting, planning for, and managing customer demand for products and services
  30. 30Order fulfillment
    The complete process from receiving an order to delivering the product to the customer

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