Logistics and Supply Chain Management: Terms, Concepts, and Challenges, Quizzes of Supply Management

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TERM 1 Logistics DEFINITION 1 Deliver and Return processes TERM 2 Logistics activities DEFINITION 2 customer service & ordering processing material handling packaging parts an service support return goods handling reverse logistics warehousing network design transportation TERM 3 Inbound vs. outbound logistics DEFINITION 3 comes from suppliers (external upstream) while outbound logistics flows to customers (external downstream)Logistics within a facility network is usually referred to as a Material Flow TERM 4 7 "Rights" of Logistics DEFINITION 4 Product Customer Time Place Condition Quantity Cost If all seven are met, it is a "Perfect Order" TERM 5 Future Logistics Challenges DEFINITION 5 the growth of logistics due to outsourcing JIT delivery Security Transportation Infrastructure Fuel price volatility pressure on margins Globalization Talent management Sustainability TERM 6 Fill Rate DEFINITION 6 used to measure item availability and stock outs can be calculated as an item fill rate, line fill rate, and or order fill rate For the same PO, the three fill rates can be different Fill rate does not capture the criticality of the storage TERM 7 Customer Expectation on Order fulfillment DEFINITION 7 Speed Consistency Flexibility Transparency Recovery TERM 8 Order Cycle DEFINITION 8 the time between recognition of need until the product is delivered and ready for use TERM 9 Available to Deliver (ATD) DEFINITION 9 an item is in stock and can be used to fill a customer order TERM 10 Available to Promise (ATP) DEFINITION 10 an item is not currently in stock but it is reliably expected in time to fill a customer order TERM 21 lowest to highest capacity DEFINITION 21 airtruckrailwater TERM 22 To compare the costs of two different transportation modes DEFINITION 22 - you must calculate both the freight costs as well as they carrying costs from holding the inventory for different lengths of time TERM 23 The lighter a package DEFINITION 23 - the more likely air freight rates will be charged by volume rather than weight TERM 24 Intermodal Transportation DEFINITION 24 using a container or other device that can be transferred from the vehicle of one mode to the vehicle of another mode without loading/unloading/disturbing the contents TERM 25 Warehouses DEFINITION 25 typically focused on efficiency because as places of storage or transfer , they don't add value by definition. Thus they work hard to reduce costs through efficiency*Overproduction doesn't apply to warehousing TERM 26 Allocating DEFINITION 26 - breaking larger quantities into smaller quantitiesex. freight being transferred from line hauls to short hauls in an LTL terminal TERM 27 Using Traditional Warehousing DEFINITION 27 - makes sense if the strategy is make to stock because traditional warehousing are set up to store items TERM 28 Multi Client warehouse DEFINITION 28 best to use if if there isnt much material to store but high control over the material is needed TERM 29 Public warehouse DEFINITION 29 best to use if there isnt much material to store and high control is not needed TERM 30 Private warehouse or contract warehouse DEFINITION 30 best to use if there is a lot of material to store TERM 31 Distribution Centers DEFINITION 31 More likely to have two dock rather than single dock systems because of the increase emphasis on material flow rather than storage TERM 32 Warehouse Automation DEFINITION 32 - not guaranteed to reduce labor costs and improve productivity. this is because automation sometimes costs more than original estimates, and or sometimes it doesn't work as well as expected TERM 33 Packaging decisions DEFINITION 33 involve cross functional work from different departments such as engineering, manufacturing, marketing, warehousing, transportation, and quality TERM 34 Package pre-testing DEFINITION 34 important for: safety durability compliance with regulations ease of handling TERM 35 Environmental issues in packaging DEFINITION 35 material usage excess landfill disposals use of recycled materials in packaging re use/recycling of packaging materials TERM 46 Cost to Service Trade off DEFINITION 46 very common in logistics because the higher the service level, the higher the cost TERM 47 Total Landed Cost Concept DEFINITION 47 Material cost + shipping cost + customs clearance cost + port handling cost + inland transportation cost, etc. TERM 48 Transportation economies of scale DEFINITION 48 Cost per unit of weight decreases as shipment size increases TERM 49 Transportation economies of distance DEFINITION 49 cost per unit travelled decreases as distance moved increases TERM 50 Considerations of network design DEFINITION 50 Vertical integration Flexibility Cooperation Geographical Dispersion TERM 51 Facility location factors DEFINITION 51 Cost Customer Service expectations Accessibility Availability TERM 52 In selecting international locations in network designs we need to consider the risks of DEFINITION 52 Protectionism Nationalism Expropriation Privatization TERM 53 Hub and Spoke concept for network design DEFINITION 53 companies can usually expect cost savings as a result of reduced number of warehouses and reduced number of routes despite the fact that some customers will be further away to deliver