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Related Flashcards
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Cards In This Set
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What is Supply Chain Management (SCM)?
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Involves the management of information flows between and among stages in a supply chain to maximize total supply chain effectiveness and probability.
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What are the three main links in the supply chain?
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1. Materials flow from suppliers2. Transformation of materials into product3. Distribution of products
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What are the five basic supply chain management components?
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Plan, Source, Make, Deliver, Return
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What is supply chain visibility?
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The ability to view all areas up and down the supply chain.
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When does the bullwhip effect occur?
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When distorted product demand information passes from one entity to the next throughout the supply chain.
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What is supply chain planning (SCP) software?
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Uses advanced mathematical algorithms to improve the flow and efficiency of the supply chain while reducing inventory.
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What is supply chain execution (SCE) software?
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Automates the different steps and stages of the supply chain.
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What is demand planning software?
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Generates demand forecasts using statistical tools and forecasting techniques.
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What is IT's role in the supply chain?
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Creating the integrations or tight process and information linkages between functions.
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What are the changes resulting from IT advances that are driving supply chains?
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Visibility, consumer behavior, competition, speed.
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What are SCM success factors?
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Make the sale to suppliers, wean employees off traditional business practices, ensure the SCM system supports the organizational goals, deploy in incremental phases and measure and communicate success, be future oriented.
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