Shared Flashcard Set

Details

Packet Chapter 6
Logistics
19
Business
Undergraduate 1
12/21/2011

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Cards

Term
Operational Performance
Definition
the time required to deliver a customer's order
Term
Inventory Availability
Definition
having inventory to consistently meet customer material or product requirements
Term
Service Reliability
Definition
involves the quality attributes of logistics; in order to achieve service reliability, it is essential to identify and implement inventory availability and operational performance measurements
Term
Order Processing
Definition
One of the five areas of logistical work; processing of customer's orders/demands
Term
Inventory
Definition
inventory requirements of a firm are directly linked to the facility network and the desired level of customer service; objective of an inventory strategy is to achieve desired customer service with the minimum inventory commitment
Term
Customer Accommodation
Definition
the movement of finished product to customers
Term
Manufacturing Support
Definition
concentrates on managing work-in-process inventory as it flows between stages of manufacturing; primary concern is not how production occurs but rather what, when, and where products will be manufactured
Term
Procurement
Definition
concerned with purchasing and arranging inbound movement of materials, parts and/or finished inventory from suppliers into manufacturing or assembly plants, warehouses, or retail stores; also known as supply management/purchasing/buying
Term
Responsiveness
Definition
a firm's ability to satisfy customer requirements in a timely manner
Term
Variance Reduction
Definition
the elimination of system disruptions
Term
Inventory Reduction
Definition
to achieve inventory reduction, an integrated logistics system must control asset commitment and turn velocity; objective is to reduce and manage inventory to the lowest possible level while simultaneously achieving overall supply chain performance objectives
Term
Life Cycle Support
Definition
the guarantee that the products will perform as advertised
Term
Cradle-to-Grave Logistics
Definition
logistical support that goes beyond logistics and recycling to include the possibility of aftermarket service, product recall, and product disposal
Term
Echeloned Structure
Definition
the flow of products typically proceeds through a common arrangement of firms and facilities as it moves from origin to final destination
Term
Integrated Service Provider
Definition
consolidate products for delivery
Term
Performance Cycle
Definition
represents the elements of work necessary to complete the logistics related to customer accommodation, manufacturing,or procurement; consists of specific work ranging from identification of requirements to product delivery; primary unit of analysis for logistical design and synchronization
Term
Safety Stock
Definition
exists to protect against variance in demand or operational lead time
Term
Efficiency
Definition
a measure of resource expenditure such logistical effectiveness
Term
Effective
Definition
the extent that operational requirements are satisfied
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