Term
What is the ultimate goal of supply chain management? |
|
Definition
To create value for end customers and firms in the supply chain. |
|
|
Term
Supply Chain Partner Requirements:
In supply chain strategies, you must consider potential trade-offs between: |
|
Definition
- Cost
- Quality
- Quantity
- Service
|
|
|
Term
What factor makes a business a Top Performing Supply Chain? |
|
Definition
RESPONSIVENESS!
Top Supply Chain Performers respond quickly to customer needs |
|
|
Term
| Performance Measurement Systems Must: |
|
Definition
- Link SC trading partners
- Overlay the entire supply chain to ensure ALL are contributing to SC strategy
- Be jointly agreed on by all SC members
|
|
|
Term
| Explain Demand Drive supply chains: |
|
Definition
Supply chains with enough flexibility to quickly respond to changes in the marketplace. |
|
|
Term
| Explain Environmental sustainability & Green supply chain management (GSCM): |
|
Definition
- Strives to protect environment
- Shares envionrmental responsiblity among the supply chain
- Satisfy business/consumer needs
|
|
|
Term
|
Definition
| Reduce greenhouse gas emissions |
|
|
Term
SCOR: Used for diagnostic benchmarking and process improvement
Seperates supply chain operations into 5 process categories: |
|
Definition
Source
Deliver
Make
Return
Plan
|
|
|
Term
| What is 3PL: Third Party Logistics |
|
Definition
| An external supplier that performs all or part of a company's logistics functions |
|
|
Term
| Reducing the Bullwhip effect: |
|
Definition
- Everyday low pricing
- Minimize promo deals/Pricing fluctutations
- Provide timely info across supply chain
|
|
|
Term
| What is the ultimate goal of supply chain management? |
|
Definition
| to create and icnrease value for the end customer/firms |
|
|
Term
Six Sigma: Defects per Million
Ex/ A process has 8 steps, there are 12 defective products observed during second shift out of 4000. What DPMO must be reported? |
|
Definition
DPMO = (12/(8*4,000)) * 1,000,000 = 375
For every one million items produced, we can expect 375 defects |
|
|
Term
|
Definition
- Control chart for variables
- Show sample ranges (largest value - smallest value in sample)
- Monitors process variability
|
|
|
Term
|
Definition
"R-bar" = Sample Range/#samples
Upper Control Limit (UCLR)= D4 * "R-bar"
Lower Control Limit (LCLR)= D3 * "R=bar" |
|
|
Term
|
Definition
Control chart for variables
shows sample means over time
Monitors process average |
|
|
Term
| "X-bar" Chart Control Limits: |
|
Definition
Centerline (CLX) = "X-doublebar" = Sample Mean/# of samples
Upper Control Limit (UCLx) = "X-doublebar" + A2 * "R-bar"
Lower Control Limit (LCLx) = "X-doublebar" + A2 * "R-bar"
|
|
|
