It is the ratio of annual sales and average aggregate inventory value.
What is INVENTORY TURNOVER?
100
A warehouse or stocking point where goods are stored for subsequent distribution to manufacturers, wholesalers, retailers, and customers.
What is Distribution Center (DC)?
100
Optimal quantity to replenish your stock
What is EOQ (Economic Order Quantity)?
100
It is considered as the worst type of forecast error.
What is bias (CFE)?
100
It is a demand management technique by changing pricing and reservation options?
What is revenue management?
200
Paying suppliers and distributors to perform processes and provide needed services and materials
What is OUTSOURCING?
200
A system of computer software, hardware, and data that the firm’s personnel can use to manipulate, analyze, and present information relevant to a location decision.
What is GIS?
200
It is a type of inventory that is in-route
What is pipeline or in-transit inventory?
200
It reduces to this method when the number of sample points (n) equals one for moving average and when alpha = 1 for exponential smoothing
What is naive forecasting?
200
Manufacturing production schedule (MPS) and material requirement planning (MRP) are examples of it.
What is resource planning?
300
Firms use it to generate a wide variety of personalized services or products at reasonably low costs.
What is MASS CUSTOMIZATION?
300
A location optimization methodology used to optimize network using linear programming
What is transportation problem?
300
A stock of materials used to satisfy customer demand or to support the production of services or goods.
What is inventory?
300
A nine-step process for supply chain integration that allows a supplier and its customers to collaborate on making the forecast by using the Internet.
What is Collaborative planning, forecasting, and replenishment (CPFR)?
300
A planning strategy that is based on a constant workforace
What is level strategy?
400
It is a replenishment strategy for making products for responsive supply chains that requires no safety stock.
What is Make-to-Order (MTO)?
400
It is inventory that you create in preparation of a preventive maintenance ops in order to keep the line going.
What is anticipation inventory?
400
Another name to it is 80/20 or Pareto
What is ABC analysis?
400
Phenomenon in supply chains where vendors upstream experience higher variability in demand than the ones downstream.
What is Bullwhip Effect?
400
A schedule that rotates employees through a series of workdays and hours.
What is rotating schedule?
500
Weeks of inventory and inventory turns are reflected in that financial term.
What is WORKING CAPITAL (WC)?
500
It is a factor we use to make the Euclidean distance more realistic?
What is CORRECTION FACTOR?
500
The ratio of cycles with negative inventory levels (i.e. stockout) to the total number of replenishment cycles.
What is Cycle Service Level (CSL)?
500
Measures the amount of variation in the dependent variable about its mean that is explained by the regression line
What is R^2 (R squared)?
500
A priority sequencing rule that specifies that the job or customer with the earliest due date is that next job to be processed.