Supply Chain Management

  1. Physical items produced by business organizations
  2. Activities that provide some combination of time, location, form, and psychological value.
  3. The management of systems or processes that create goods and/or provide services
    Operations Management
  4. A sequence of activities and organizations involved in producing and delivering a good or service.
    Supply Chain
  5. The difference between the cost of inputs and the value or price of outputs
  6. One or more actions that transform inputs into outputs
  7. The time between ordering a good or service and receiving it.
    Lead time
  8. An abstraction of reality; a simplified representation of something
  9. A set of interrelated parts that must work together
  10. A few factors account for a high percentage of the occurrence of some events
    Pareto phenomenon
  11. Systems in which highly skilled workers use simple, flexible tools to produce small quantities of customized goods.
    Craft production
  12. Systems in which low-skilled workers use specialized machinery to produce high volumes of standardized goods.
    Mass production
  13. Parts of a product made to such precision that they do not have to be custom fitted.
    Interchangeable parts
  14. The breaking up of a production process into small tasks, so that each worker performs a small portion of the overall job.
    Division of Labor
  15. Use of the internet to transact business
  16. Consumer-to-business transactions
  17. The application of scientific discoveries to the development and improvement of goods and services
  18. Using resources in ways that do not harm ecological systems that support human existence
  19. The ability of an organization to respond quickly to demands or opportunities
  20. A process for reducing costs, improving quality, and increasing customer satisfaction
    Six Sigma
  21. System that uses minimal amounts of resources to produce a high volume of high quality goods with some variety
    Lean System
  22. Buying goods or services instead of producing or providing them in-house
  23. effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services
  24. The reason for the existence of an organization
  25. States the purpose of an organization
    Mission Statement
  26. Provide detail and scope of the mission
  27. Plans for achieving organizational goals
  28. The method and actions taken to accomplish strategies
  29. The special attributes or abilities that give an organization a competitive edge
    Core Competencies
  30. Characteristics that customers perceive as minimum standards of acceptability to be considered as a potential for purchase
    Order Qualifiers
  31. Characteristics of an organization’s goods or services that cause it to be perceived as better than completion
    Order Winners
  32. The considering of events and trends that present threats or opportunities for a company
    Environmental Scanning
  33. The approach, consistent with the organization strategy that is used to guide the operations function
    Operation strategy
  34. Strategy that focuses on quality in all phases of an organization
    Quality-based Strategy
  35. Strategy that focuses on reduction of time needed to accomplish tasks.
    Time-based Strategy
  36. A measure of the effective use of resources, usually expressed as the ratio of output to input
  37. The capability of an organization to produce an item at an acceptable profit
  38. The capability of an organization to provide a service at an acceptable cost or profit.
  39. The responsibility of a manufacturer for any injuries or damages caused by a faulty product
    Product liability
  40. Products carry an implication of merchantability and fitness
    Uniform Commercial Code
  41. The assessment of the environmental impact of a product or service throughout its useful life.
    Life cycle assessment (LCA)
  42. Examination of the function of parts and materials in an effort to reduce cost and/or improve product performance
    Value Analysis
  43. Refurbishing used products by replacing worn-out or defective components
  44. Design so that used products can be easily taken apart.
    Design for Disassembly (DFD)
  45. Recovering materials for future use
  46. Design that facilitates the recovery of materials and components in used products for reuse
    Design for recycling (DFR)
  47. A strategy of producing basically standardized goods, but incorporating some degree of customization
    Mass customization
  48. The process of producing, but not quite completing a product or service until customer preferences are known
    Delayed Differentiation
  49. A form of standardization in which component parts are grouped into modules that are easily replaced or interchanged
    Modular design
  50. The ability of a product, part, or system to perform its intended function under a prescribed set of conditions
  51. Situation in which a product, part, or system does not perform as intended
  52. The set of conditions under which an item’s reliability is specified
    Normal operating conditions
  53. Design that results in products or services that can function over a broad range of conditions
    Robust Design
  54. Dismantling and inspecting a competitor’s product to discover product improvements
    Reverse Engineering
  55. Organized efforts to increase scientific knowledge or product innovation
    Research and development (R&D)
  56. Bringing engineering design and manufacturing personnel together early in the design phase
    Concurrent engineering
  57. Product design using computer graphics
    Computer-aided design (CAD)
  58. The designing of products that are compatible with and organization’s capabilities
    Design for manufacturing (DFM)
  59. Design that focuses on reducing the number of parts in a product and on assembly methods and sequence.
    Design for assembly (DFA)
  60. The ease of fabrication and/or assembly
  61. An approach that integrates the “voice of the customer” into both product and service development
    Quality function deployment (QFD)
  62. Something that is done to or for a customer
  63. The facilities, processes, and skills needed to provide a service
    Service delivery system
  64. the combination of goods and services provided to a customer.
    Product bundle
  65. The physical resources needed to perform the service, the accompanying goods, and the explicit and implicit services included.
    Service Package
  66. A method used in service design to describe and analyze a proposed service.
    Service Blueprint
  67. The ability of a product, service, part, or system to perform its intended function under a prescribed set of conditions.
  68. Events whose occurrence or nonoccurrence does not influence each other
    Independent Events
  69. The use of backup components to increase reliability
  70. The average length of time between failures of a product or component.
    Mean time between failures (MTBF)
  71. The fraction of time a piece of equipment is expected to be available for operation.
Card Set
Supply Chain Management
Exam 1 Vocabulary