Term
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Definition
| planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption |
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Term
| whats involved in supply chain management |
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Definition
| outbound, inbound and reverse distribution |
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Term
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Definition
| transporting and distributing goods to wholesalers, retailers and final customers |
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Term
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Definition
| receiving, storing and disseminating incoming goods for use in the manufacturing process |
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Term
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Definition
| collection of damaged, outdated or unsold goods and bringing them back to the supplier |
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Term
| why has greater emphasis been placed on logistics lately? |
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Definition
| firms can gain a competitive advantage when logistics result in better service or lower prices |
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Term
| goals of logistics system |
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Definition
| deliver a targeted level of customer service at the least cost |
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Term
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Definition
| warehousing, inventory management, transportation and logisitics information management |
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Term
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Definition
| balance between too much and too little inventory |
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Term
| just in time logisitics systems |
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Definition
| desired material arrives at the factory just in time for use, saves cost of storing inventory |
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Term
| RFID "smart tag" technology |
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Definition
| stands for Radio Frequency Identification tags; Communicates via radio waves for identification and tracking of products |
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