Supply Chain 101
The network of people, companies, resources, and activities involved in getting a product from its origin to the customer.
What Is a Supply Chain?
This role focuses on how products move between suppliers, warehouses, stores, and finally to the customer.
What is a Transportation Manager?
A company needs raw materials to make its product; this part of the supply chain would typically provide them.
What is a Supplier?
A facility that receives, stores, and distributes products to other locations.
What is a Distribution Center?
A company has 10,000 units sitting in a warehouse that nobody wants to buy.
What is Excess Inventory?
This term describes how much of a product customers want to buy.
What is demand forecasting?
This person oversees the processes that turn resources into products or services.
What is an Operations Manager?
This supply chain activity occurs when a product is sitting in a distribution center waiting to be shipped to a store.
What is Inventory/Warehousing?
Inventory strategy aims to receive materials close to when they are actually needed.
What is Just-in-Time (JIT)?
A supplier suddenly increases its prices by 30%
What is a Procurement Challenge?
What is Procurement?
This role often uses data to identify trends, improve processes, and support supply chain decisions.
What is a Supply Chain Analyst?
The function of transporting finished products from a distribution center to a retail store.
What is Transportation/Logistics?
An abbreviation that is commonly used to identify a specific product or inventory item?
What is SKU?
A supment is supposed to arrive Monday but doesn't arrive till Friday.
What is a Transportation Delay?
The goods or materials a company keeps on hand to meet future demand.
What is Inventory?
The concept that is affected when a retailer notices that customers are buying significantly more umbrellas than usual because of an upcoming storm.
What is demand?
Describes the time between placing an order and receiving it?
What is lead time?
The factory has everything it needs except one very critical component.
What is a Material Shortage?
Generally refers to the movement and storage of goods from one location to another.
What is Logistics?
This role focuses on finding suppliers, evaluating options, and acquiring goods or services.
What is a Procurement Specialist?
This mode of transportation is the most cost effective for bulky international shipments.
What is Ocean Freight?
What is the Bullwhip Effect?
Customers want the product, but the warehouse has none available.
What is a Stockout?