Term
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Definition
| The average company spends nearly half of every dollar on production needs |
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Term
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Definition
1.Materials flow from suppliers and their suppliers at all levels
2.Transformation of materials into semi-finished and finished products through the organization;s own production process
3.Distribution of products to customers and their customers at all levels |
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Term
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Definition
1.Plan
2.source
3.make
4.deliver
5.return |
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Term
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Definition
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Term
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Definition
| -Companies can respond to demanding and changing customers through supply chain enhancements enabled by IT |
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Term
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Definition
| -Increased competition and adoption of IT advances in supply chain management, makes any organization that is ignoring modernization at risk of being obsolete |
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Term
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Definition
| Pace of business increases, and organization's supply chain must respond efficiently, accurately, and quickly |
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Term
| Supply chain planning software |
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Definition
| -Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain |
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Term
| SCM Industry best practices |
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Definition
1.Make the sale to suppliers
2.Wean employees off traditional (outdated) business practices
3.Ensure the SCM system supports the organizational goal
4.Deploy in incremental phases and measure and communicate success
5.Be future oriented |
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