Glossary of Logistics and Supply Chain Management Terms, Quizzes of Production and Operations Management

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Continuous replenishment

supplying orders in a short period of time according to

predetermined schedule.

TERM 2

core competencies

DEFINITION 2

the activities that accompany does best.

TERM 3

Cross-docking

DEFINITION 3

crossing of goods from one loading dock to another without

being places in storage,

TERM 4

e-marketplaces

DEFINITION 4

web sites where companies and suppliers conduct business-

to-business activities.

TERM 5

E-procurement

DEFINITION 5

business-to-business commerce in which purchases are

made directly through a suppliers web site.

Intermodal transportation

combines several modes of transportation.

TERM 7

Landed cost

DEFINITION 7

total cost of producing, storing, and transporting a product to

the site of consumption.

TERM 8

Logistics

DEFINITION 8

the transportation and distribution of goods and services.

TERM 9

Nation groups

DEFINITION 9

: nations joined together into trading groups.

TERM 10

On-demand (direct-reponse) delivery

DEFINITION 10

requires the supplier to deliver goods when demanded by the

customer.

Order fulfillment

the process of ensuring on-time delivery of a customers

order.

TERM 12

Outsourcing

DEFINITION 12

purchasing goods and services that were originally produced

in-house from an outside supplier.

TERM 13

Postponement

DEFINITION 13

moving some final manufacturing steps like final assembly or

product customization into the warehouse or distribution

center.

TERM 14

Procurement

DEFINITION 14

purchasing goods and services from suppliers

TERM 15

Reverse auction

DEFINITION 15

a company posts items it wants to purchase on the internet

for supplier to bid on.

Sourcing

the selection of suppliers.

TERM 17

Supply chain

DEFINITION 17

the facilities, functions, and activities involved in producing

and delivering a product or service from suppliers to

customers.

TERM 18

Supply chain management

DEFINITION 18

managing the flow of information through the supply chain

inorder to attain the level of synchronization that will make it

more responsive to customer needs while lowering costs.

TERM 19

Tariffs

DEFINITION 19

taxes on imported goods.

TERM 20

Trade speciilites

DEFINITION 20

specialists who help manage transportation and distribution

operations in foreign countries.

Value added tax

an indirect tax on the increase in value of a good at any

stage in the supply chain from raw material to final product.

TERM 22

Vendor-managed inventory

DEFINITION 22

a system in which manufacturers instead of distributors

generate orders.

TERM 23

Warehouse management system

DEFINITION 23

an automated system that runs the day to day operations of

a ware house or distribution center and keeps track of

inventory