Supply Chain Basics
This term describes the coordination of activities required to deliver goods and services to a consumer, and involves managing processes beyond just one organization.
What is Supply Chain management?
This function is considered the backbone of a business’s delivery process and is vital to both marketing and finance departments.
What is inventory management?
This inventory control method keeps a constant, real-time record of inventory as items are received and sold.
What is the perpetual inventory control system?
In 2024, this video game-inspired TV show featuring Joel and Ellie captivated audiences on HBO
What is The Last of Us?
This is one key goal of supply chain management, focused on getting the right product to the right place at the right time
What is efficient fulfillment of demand?
This term refers to physical goods that are idle, have economic value, and are held for future use, sale, or processing
What is inventory?
In this inventory control method, a business physically counts items at regular intervals, like monthly or annually.
What is the periodic inventory control system?
This animated family has been on TV since 1989 and lives in Springfield.
Who are The Simpsons?
One of the reasons businesses invest heavily in supply chain management is to lower this, without reducing their prices
What is the cost of doing business (or operating costs)?
Inventory is said to be this, meaning it is constantly changing and must be monitored regularly through planning and review.
What is dynamic?
This type of inventory system aims to receive raw materials just before they’re needed in the production process, reducing storage needs.
What is the Just-in-Time (JIT) inventory control system?
This singer’s 2023 Super Bowl halftime show included a surprise pregnancy reveal.
Who is Rihanna?
This advantage of supply chain management involves being able to respond quickly and adaptively to changes in the market or supply network
What is enhancing organizational responsiveness (or building network resiliency)?
These three types of inventory correspond to input, process, and output stages of production.
What are raw materials, work-in-process, and finished goods?
This term refers to the difference between the perpetual inventory records and the actual physical inventory count.
What is inventory shrinkage?
This "Uptown Funk" singer is also part of Silk Sonic with Anderson .Paak.
Who is Bruno Mars?
According to the Council of Supply Chain Management Professionals, supply chain management is important because it improves this aspect of a business’s profitability by controlling and reducing costs
What is the financial position?
This type of inventory includes defective items, production waste, and scrap, as long as they still hold economic value on a company’s books
What is inventory of rejections and defectives (or scrap)?
This process ensures products meet expected standards and may involve visual checks or physical tests at multiple stages of production.
What is quality control?
This 2023 blockbuster film about a plastic doll broke records and was directed by Greta Gerwig
What is Barbie?