Supply Chain Foundations
This supply chain flow is considered the “lifeblood” of the supply chain.
What is product flow?
This utility is created when goods are transported from production points to markets where demand exists.
What is place utility?
This is often the largest component of logistics costs.
What are transportation costs?
This function is responsible for managing acquisition procedures and standards.
What is the Purchasing function?
The Triple Bottom Line (TBL) includes these three components: People, Planet, and this third element.
What is growth?
This type of logistics involves planning, implementing, and controlling the flow and storage of goods.
What is business logistics?
This utility is created when the proper quantities of products are delivered where they are needed.
What is quantity utility?
The most important trade-off in logistics is between these two areas.
What are transportation and inventory?
This supplier selection criterion includes production capability, labor relations, and operating controls.
What is capability?
This supply chain process can help organizations reduce inventory levels.
What is effective Supply Chain Management (SCM)?
These are the three sectors where logistics management plays a role.
What are private, public/government, and nonprofit sectors?
A drug store stocking Valentine’s Day products by mid-January is an example of this utility.
What is time utility?
The relationship between lost sales costs and inventory costs is described as this.
What is inverse?
This process focuses on improving relationships with strategic suppliers through effective communication.
What is Supplier Relationship Management (SRM)?
This challenge can increase because of globalization and supply chain consolidation.
What is expansion of inventory management issues?
This type of utility is created when bulk products are broken down and repackaged at a distribution center.
What is form utility?
This type of logistics analysis develops costs for different logistics cost centers at a specific point in time or production level.
What is short-run analysis?
A faster supply chain compression impacts financial flows by reducing this cycle.
What is the order-to-cash cycle?
In the Implement Sourcing Strategy step, this action is most important.
What is selecting a supplier based on objectives?
This sustainability effort has received increased scrutiny in recent years.
What is reducing packaging waste by using alternate materials?
In today’s environment, product flow is considered a two-way flow because of these systems.
What are reverse logistics systems?
This concept represents all costs associated with making and delivering products to where they are needed.
What is total landed cost?
A faster cash-to-cash cycle provides companies with this benefit.
What is increased working capital?
When organizations focus only on acquiring items at the lowest cost, they may miss these opportunities.
What are opportunities for greater value?
This communication practice is crucial for strengthening relationships with strategic suppliers.
What is effective communication?