Term
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Definition
supply, product mixing and the movement of goods.
Help discover transportations consolidations and efficiencies. |
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Term
| The two most important warehousing questions are: |
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Definition
How many and what size?
Centralized (few) vs. Decentralized (many)
Where?
Locations |
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Term
| Private warehousing allows for: |
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Definition
| High throughput volume and specialized customer services |
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Term
| Centralized warehousing strategies result in... |
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Definition
| longer lead times for customers. |
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Term
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Definition
| offer transportation services to all shippers at published rates between designated locations. |
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Term
| Highest to Lowest Modes of Transportation: |
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Definition
Air
Motor carriage -TL/LTL
Rail |
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Term
Motor Carriage (trucks) offer _______ ________, and account for the _______ ____________ ______ __ ___ ___________ __ _______ _____. |
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Definition
Highest accessibility
Largest transportation mode in US measured by costs/dollars spent |
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Term
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Definition
smaller shipments consolidated for line haul,
and de-consolidated for local shipment. |
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Term
| TL/LTL requires more handling and loading costs |
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Definition
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Term
| ___ transit times are the fastest of the modes, but have the ________ rates. |
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Definition
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Term
Cost leader =
Transit Time Leader =
Reliability =
Capability =
Accessibility =
Security = |
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Definition
Cost = Pipeline
Transit = Air
Reliability = Water
Capability - Railroad
Accessibility = Motor
Security = Air |
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Term
| What is a Bill of Lading? |
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Definition
| Binding agreement between shipper and carrier |
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Term
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Definition
Individuals who move international shipments through customers and handle documentation, used by most companies exporting goods, vast knowledge of international documentation saves time and money. |
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Term
| What are the 4 broad categories of inventories? |
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Definition
Finished Goods
Raw Materials
Work-in-Process
Maintenance, Repair, Operating |
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Term
| How do you calculate Economic Order Quantity? |
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Definition
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Term
| Explain the Price Break Model? |
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Definition
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Term
| How do you calculate the Reorder Point? |
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Definition
| ROP = Demand * Lead Time + Safety Stock |
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Term
| How do you determine Safety Stock? |
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Definition
| SS = z[sqr. rt]: (std. dev. LT)2*(Demand)2 + (std. dev. Demand)2*(LT) |
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Term
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Definition
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Term
| Explain Continuous Review: |
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Definition
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Term
| Explain the ABC Inventory Analysis: |
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Definition
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Term
| Explain the Inventory Turnover Analysis: |
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Definition
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Term
| What is the goal of determining the EOQ? |
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Definition
To find the order quantity (Q) that minimizes the total cost (TC) of managing inventory.
Similar to the Make vs. Buy concept |
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Term
What is the Total Annual Inventory Cost (TAIC) formula?
(EOQ Model Formula) |
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Definition
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