Supply Chain Management: Terms and Concepts, Quizzes of International Law

Download Supply Chain Management: Terms and Concepts and more Quizzes International Law in PDF only on Docsity! TERM 1 Material Management Physical Distribution DEFINITION 1 the timely movement of raw materials, parts, and supplies into and through the firm PD - involves the movement of the firm's finished product to its customers TERM 2 System Concept Total Cost Concept Trade-off Concept DEFINITION 2 SC - based on the notion that materials-flow activities within and outside of the firm are so extensive and complex that they can be considered only in the context of their interaction TCC - A logical outgrowth of the systems concept, purpose is to minimize the firms logistics cost by implementing SC properly TOC - recognizes the links within logistics systems that result from the interaction of their components TERM 3 Supply-Chain Management DEFINITION 3 a series of value-adding activities connects a company's supply side with its demand side. TERM 4 Logistics Platform DEFINITION 4 determined by a location's ease and convenience of market reach under favorable cost circumstances, a key component of a firms competitive position TERM 5 Land Bridges or Sea Bridges Intermodal Movements DEFINITION 5 LB or SB - permit the trasfer of freight among various modes of transportation, and results in IM IM - The transfer of freight from one mode or type of transportation to another TERM 6 Ocean Shipping DEFINITION 6 three types of vessels that can be distinguished into : liner service, bulk service, and tramp or charter service TERM 7 Liner Service Bulk Service Tramp Service DEFINITION 7 LS - regularly scheduled passage on established routes BS - provides contractual services for individual voyages or prolonged periods of time. TS - available for irregular routes and scheduled only on demand TERM 8 Container Ship DEFINITION 8 carry standardized containers that greatly facilitate the loading and unloading of cargo and intermodal transfers. TERM 9 Reliability tracking DEFINITION 9 R - A relative measure T - Being able to coordinate the smooth flow of a multitude of interdependent shipments can make a vast difference in a corporation's performance. TERM 10 Preferential Policies DEFINITION 10 are most often enforced when government cargo is being transported.