Shared Flashcard Set

Details

Chapter 1
Logistics and Operations of Supply Chain Management Ch 1
126
Business
Graduate
12/19/2014

Additional Business Flashcards

 


 

Cards

Term
Product
Definition
Something brought about by intellectual or physical effort. Includes the services provided by the company (customer sees both as a unit).
Term
Product lifecycle
Definition
consists of 3 time periods: design and manufacturing (using materials from nature), use, and disposal (back to nature). Recycling loops between disposal and back into design and manufacturing
Term
Logistics
Definition
organization, planning and realization of the forward and reverse flow and storage of goods, data, and control along the product life cycle.
Term
Logistics management
Definition
Management of logistics activities (procurement from suppliers, production / transformation, and sales to clients)
Term
Enterprise
Definition
system in which people work together to reach an entrepreneurial objective. used synonymously with 'company'
Term
KPI
Definition
allow company to evaluate the degree to which objectives are reached an to analyze causes and effects
Term
Good
Definition
something with an economic utility or satisfies an economic want... anything that is suitable, serviceable, convenient, or effective
Term
investment good
Definition
used by consumer to develop and manufacture other goods
Term
materials
Definition
elements of which something can be made or is composed of. Can be raw matls. , documents, evidence, certificates
Term
component
Definition
one of several parts that together make a machine or a system. __s come together to form a product during manufacturing, or arise from a product during disposal
Term
product
Definition
something brought about by intellectual or physical effort
Term
product in a comprehensive sense
Definition
product, the services, and the company itself, with its image and reputation... all seen as a unit
Term
operations
Definition
function or a system that transforms inputs to outputs
Term
operations management
Definition
planning, scheduling, and control of the activities that transform inputs into finished goods and service
Term
design and manufacturing logistics
Definition
all logistics to consumer
Term
disposal logistics
Definition
runs back from consumer
Term
service logistics
Definition
accompanies the use phase
Term
Demand
Definition
need for a particular product or component
Term
actual demand
Definition
composed of customer orders
Term
demand forecast
Definition
estimation of future demand... used synonymously with ___ prognosis
Term
Lead time
Definition
span of time required to perform a process or series of operations... time between recognition of need for an order and receipt of goods
Term
delivery lead time
Definition
total time to receive, fill, and deliver an order.
Term
Delivery lead time required by the customer
Definition
time span the customer will tolerate between formulating need and satisfaction of the need
Term
Delivery policy
Definition
objective delivery lead time
Term
warehouse, store, or goods store
Definition
terms fro the infrastructure for goods storage
Term
shelf life
Definition
life time of perishable goods
Term
Decoupling points
Definition
locations along the value-added process, where inventory is placed to create independence between processes or entities
Term
Decoupling inventory
Definition
amount of inventory kept at a decoupling point
Term
decoupling
Definition
process of creating independence between use and supply of material
Term
inventory investment
Definition
Strategic decisions for design of decoupling points is a degree of freedom in logistics and operations management.
Term
Quality, costs, delivery, flexibility
Definition
Reasons that design and manufacturing of a product requires many organizational units
Term
supply chain
Definition
joining of the logistics of several "co-makers" to form comprehensive, trans-corporate logistics
Term
production/procurement/logistics network
Definition
joining of the logistics of several "co-makers" to form comprehensive, trans-corporate logistics
Term
integral logistics management
Definition
mgmt of the comprehensive supply chain, along the entire product life cycle
Term
business partner
Definition
internal customer or supplier
Term
customer/sales order
Definition
order from external customer to company
Term
procurement/purchase order
Definition
order from the company to an external supplier
Term
production/manufacturing/job/shop/company internal order
Definition
order to manufacture an end product or a semifinished good
Term
Item
Definition
a collective term for any good that can or must be identified or handled in the logistics of distribution, production, procurement, or recycling/disposal.
Term
end product /end item / finished good
Definition
completed item that generally does not serve as a component of another product
Term
intermediate product / semifinished good
Definition
is stored or awaits final operations in the production process. Can be used in the assembly of a higher level product and is thus also a component.
Term
Assembly / Product module
Definition
composed of at least two components
Term
product family
Definition
a group of products having similar features or functions / many similar components or similar processes in process plan
Term
product structure / nomenclature / bill of materials
Definition
structured list of components to be used in order to manufacture a product, understood as a whole-part hierarchy
Term
low level
Definition
lowest structure level at which an item can appear in a multilevel bill of material
Term
operation / basic manufacturing step
Definition
like "cut" "stamp" or "bend", step in a process that is required for the design and manufacture of a product
Term
setup / changeover time / setup lead time
Definition
time required for setup
Term
run time
Definition
time for actual work on the order
Term
lot or batch
Definition
the number of units of measure produced together
Term
run time per unit
Definition
execution time for one unit of the batch
Term
operation time
Definition
setup time + lot * run time per unit
Term
production structure
Definition
product structure AND the routing sheet(list of operations required to manufacture an item from its components)
Term
purchasing lead time
Definition
total time required to obtain a purchased item
Term
critical path / cumulative / aggregate lead time
Definition
longest planned length of time to accomplish the value-adding activity in question
Term
process plan
Definition
total production structure on the time axis (time displayed as lead-time offset)
Term
lead-time offset
Definition
moment of a resource requirement (component or capacity) relative to the completion date of a product, based on the lead time for that product... job due date - lead time
Term
load profile
Definition
display of work center load and capacity over time... could be rectangular, stair-step, continuous in shape
Term
rough-cut product structure
Definition
structured makeup of the product from its components
Term
rough-cut work center
Definition
total of work centers that do not have to be further differentiated by rough-cut planning and control
Term
rough-cut operation
Definition
total of operations, not further differentiated by rough-cut planning & control
Term
rough-cut routing sheet
Definition
overall chain of operations,
Term
rough cut planning
Definition
planning that cannot reach a certain level of detail, and therefore relies on partial data
Term
rough-cut process plan
Definition
rough cut production structure plotted on time axis
Term
bill of resources
Definition
listing of the required key resources needed to manufacture one unit of a selected product or product family
Term
product load profile
Definition
bill of resources where the resource requirements are defined by lead-time offset
Term
Three dimensions of tasks in a company
Definition
Tasks related to performance, tasks related to stakeholders, tasks along the value-adding chain
Term
performance
Definition
achievement of objectives in the areaso of quality, caosts, delivery and flexibility
Term
bill of resources
Definition
a listing of required key resources needed to manufacture one unit of a selected product or product family
Term
product load profile
Definition
a bill of resources where the resource requirements are defined by a lead-time offset
Term
strategic plan
Definition
managements formulation of a plan considering the market environment, the product positioning in the market, and the company's advantages and differentiation
Term
opportunity cost
Definition
return on capital that could have resulted had the capital been used for some purpose other than its present use
Term
lean production
Definition
minimization of all required resources... involves minimizing waste
Term
waste
Definition
all non-value-adding activities in development and production within the logistics network
Term
agility
Definition
ability to move; dexterity
Term
agile manufacturing
Definition
building up of potentials or scope in the right place at the right time in the right amount
Term
sales and distribution logistics
Definition
sales logistics--> distribution logistics --> service and maintenance logistics
Term
physical logistics
Definition
moving and storing of goods, but also physical control of conten verification of the flow of goods. Automatic instruments (RFID) help control these processes
Term
admin & planning / information logistics ; planning and control
Definition
handles actual tasks and decision tasks that will affect actual tasks in the future
Term
production planning and control
Definition
PPC
Term
Goals of production planning and control
Definition
evaluate production possibilities, create a detailed production program, and realize plans.
Term
supply chain collaboration, supply chain coordination, supply chain transformability
Definition
The 3 target areas for supply chain management as determined by logistics management
Term
supply chain collaboration
Definition
ability to work together to achieve optimization of the logistics network
Term
supply chain coordination
Definition
ability to coordinate and communicate in daily operations effectively
Term
supply chain transformability
Definition
ability to achieve flexibility in reconfiguring supply chain
Term
target area supply chain collaboration
Definition
focusing on overally optimization of supply chain across company boundaries
Term
target areas supply chain coordination
Definition
focusing on seamless flow through supply chain
Term
target area supply chain transformability
Definition
focusing on flexibility to achieve better responsiveness
Term
logistics performance indicator
Definition
characteristic measured for estimating performance in areas of cost, delivery, quality, and flexibility
Term
global measures
Definition
indicators to measure overall company performance
Term
local measures
Definition
indicators relating to single resource or process
Term
scrap factor
Definition
number of rejected facts divided by number of facts
Term
complaint rate
Definition
# rejected facts / # of facts
Term
stock-inventory turnover
Definition
annual cost of inventory issues / average inventory
Term
WIP inventory turnover
Definition
sales / average work in process
Term
work center efficiency
Definition
standard load / actual load = actual units produced / standard units to produce
Term
capacity utilization
Definition
actual load / theoretical capacity
Term
fill rate or customer service ratio (PI for target area delivery)
Definition
# products delivered on time / # ordered
Term
delivery reliability rate
Definition
# products delivered on confirmed date / # of confirmed products
Term
lot (batch) size
Definition
average order quantity
Term
value-added rate of lead time
Definition
value added portion of lead time / lead time
Term
variance in work content
Definition
standard deviation of operation times
Term
response time
Definition
time of order entry / overall lead time
Term
order confirmation time
Definition
pre confirmation --> order confirmation / total lead time
Term
produce
Definition
something produced as a commodity or similar
Term
artifact
Definition
something created by humans, usually for a practical purpose
Term
consumer good
Definition
intended for direct consumption
Term
value added management
Definition
all areas of management within the logistics network that are value adding (procurement, production, logistics, sales and distribution, operations)
Term
supply chain management
Definition
desing, planning, execution, control and monitoring of supply chain activities.
Term
customer order penetration point
Definition
the decoupling point between total lead time and customer tolerance time
Term
examples of target area delivery
Definition
fill rate, delivery reliability rate, response time, order confirmation time
Term
examples of target area costs
Definition
stock-inventory turnover, WIP inventory turnover, capacity utilization
Term
examples of target area flexibility
Definition
bid proposal success rate, order success rate
Term
examples of target area quality
Definition
scrap factor, complaint rate
Term
The "brand" Airbus, which entails everything associated to the products Airbus produces.
Definition
Thinking of airplanes as a product, this would be a "product" in the most comprehensive sense
Term
This would be Airbus producing the airplane, and also providing the training and mechanic services to other airlines... Product + Service
Definition
Thinking of airplanes as a product, this would be a "product" in a broad sense
Term
This would be just the Airbus aircraft
Definition
Thinking of airplanes as a product, this would be a the "simple product"
Term
opportuneness
Definition
suitability of an action in a particular situation
Term
high quality may mean long deliver times or high costs, low costs may mean low degree of flexibility
Definition
An example of conflicting entrepreneurial objectives
Term
agility
Definition
changeability of product portfolio in a production network
Term
transformability
Definition
changeability of a product within a site
Term
flexibility
Definition
changeability of a sub-product within a production segment
Term
reconfigurability
Definition
changeability of a workpiece within a cell
Term
changeoverability
Definition
changeability of a feature within a station
Term
Common problems with performance indicators
Definition
Often general and qualitative in meaning / require additional assumptions / sometimes cannot be measured directly / measurement can affect the process being measured
Term
Common problems with performance indicators
Definition
absolute value means nothing / benchmarking against other is tricky
Term
delivery reliability rate (good PI for target area delivery)
Definition
# products delivered on confirmed delivery date / # of confirmed products
Supporting users have an ad free experience!