Term
| Define Supply Chain Management |
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Definition
| Firms collaborating to leverage strategic positioning and to improve operating efficiency |
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Term
| Define Six Sigma performance |
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Definition
| Managerial commitment to zero defect |
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Term
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Definition
| Delivering the desired assortment and quantity of products to the right location on time, damage-free, and correctly invoiced |
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Term
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Definition
| The work required to move and geographically position inventory |
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Term
| Define Distribution/Marketing Channels |
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Definition
| Characterized by classification based on specific roles performed during the distributive process; traditional channel arrangements have moved toward more integration and collaboration |
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Term
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Definition
| Business success also depends upon a third perspective of value: customization of value-adding services that make a difference to customers |
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Term
| Define Lowest Total Product Cost |
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Definition
| Focus on process achievement; realization that the overall lowest cost is not necessarily the lowest cost for each function included int he process |
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Term
| Define Information Sharing Paradigm |
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Definition
| Widespread belief that achieving a high degree of cooperative behavior requires that supply chain participants voluntarily share operation information and jointly plan strategies |
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Term
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Definition
| Profide product storage supplemented with other specialized services |
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Term
| Define Integrated Service Provider (ISP) |
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Definition
| Offer a range of logistic services that included all work necessary to accommodate customers, ranging from order entry to product delivery |
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Term
| Define Asset-based/Third-Party Provider |
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Definition
| Own and operate transportation equipment and warehousing buildings |
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Term
| Define Nonasset-baased/Fourth-Party Provider |
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Definition
| Specialize in providing comprehensive information services that facilitate supply chain arrangements |
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Term
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Definition
| Delaying production/customization so as to reduce the anticipatory risk of supply chain performance |
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Term
| Define the Tapering Principle |
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Definition
| Cost curve increases at a decreasing rate as a function of distance (larger the distance, the lower the marginal cost per distance unit) |
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Term
| What are the seven economic drivers of Transportation Economics? |
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Definition
| 1) distance, 2) weight, 3) density, 4) stowability, 5) handling, 6) liability, 7) market |
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Term
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Definition
| Buildup approach where the carrier establishes a rate based on the cost of providing the service plus a profit margin; most commonly used for low-value goods or in highly competitive situations |
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Term
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Definition
| charges a price based on value as perceived by the shipper rather than the carrier cost of actually providing the service; most commonly used for high-value goods or when limited competition exists |
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Term
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Definition
| The grouping of the product being transported |
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Term
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Definition
| The carrier’s method of charging for transportation services performed |
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Term
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Definition
| Basic document utilized in purchasing transport services |
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