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Packet Chapter 5
21st Century Supply Chains
9
Business
Undergraduate 1
12/20/2011

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Term
Six Sigma Performance
Definition
growing managerial commitment to zero defect
Term
Perfect Orders
Definition
deivering the desired assortment and quantity of products to the right location on time, damage-free, and correctly invoiced
Term
Supply Chain Management
Definition
consists of firms collaborating to leverage strategic positioning and to improve operating efficiency
Term
Logistics
Definition
the work required to move and geographically position inventory; process that creates value by timing and positioning inventory; combination of a firm's order management, inventory, transportation, warehousing, materials handling, and packaging as integrated throughout a facility network
Term
Outsourcing
Definition
transferring job opportunities to other nations
Term
Integrated Service Providers (Third-Party and Fourth-Party service providers)
Definition
commonly classified as being either asset or nonasset based; began to market a range of logistics services that included all work necessary to accommodate customers, ranging from order entry to product delivery
Term
Anticipatory Business Model
Definition
typical stages: forecast, purchase materials, manufacture, warehouse, sell, and then deliver;
Term
Responsive Business Model
Definition
seeks to reduce or eliminate forecast reliance by joint planning and rapid exchange of information between supply chain participants
Term
Globalization
Definition
third stage of internationalization; full fledged conduct of business operations within and across international boundaries
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