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Summary Advanced Logistics - Terms Block 4
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Summary of 17 pages for the course Advanced Logistics at HR
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LogisticsChapter 1 – Overview of logistics
Chapter 2 – Logistics and information technology
Chapter 3 – Strategic and Financial Logistics systems
Chapter 4 – Organizational and Managerial issues
Chapter 5 – The supply chain management concept
Chapter 6 –Procurement
Chapter 7 – Demand management, order management, and customer service
Chapter 8 – Inventory management
Chapter 9 – Distribution centre, warehouse, and plant location
Chapter 10 – Warehousing management
Chapter 11 – Protective packaging and materials handling
Chapter 12 – Transportation
Chapter 13 – Transportation Management
Chapter 14 – International logistics
,Chapter 1 – Overview of logistics
Cost trade offs: changes to one logistics activity cause some costs to increase and others to
decrease.
Disintermediation: the removal of levels (layers) from a channel of distribution.
Economic utility: refers to the value or usefulness of a product in fulfilling customer’s needs
and wants.
Form utility: refers to a product’s being in a form that (1) can be used by the customer and (2)
is of value to the customer.
Landed cost: price of the product at its source plus transportation costs to its destination.
Logistics: according to the council of supply chain management professionals that part of
supply chain management that plans, implements and control the efficient, effective forward
and reverse flow and storage of goods, services and related information between the point of
origin and the point of consumption to meet customers’ requirements.
Marketing channels: a set of institutions necessary to transfer the title of goods and to move
goods from the point of production to the point of consumption and as such which consist of all
the institution an all the marketing activities in the marketing process.
Mass logistics: a one size fits all approach in which every customers gets the same type and
levels of logistics service.
Materials management: the movement and storage of materials into a firm.
Physical distribution: storage of finished product and movement to the customers.
Place utility: having products available where customers need them.
Postponement: the delay of value added activities such as assembly, production and
packaging to the latest possible time.
Power retailer: retailers that are characterized by large market share and low prices.
Sorting function: bridges the discrepancy between the assortment of goods and services
generated by the producer and the assortment demanded by the customer.
Stock-keeping units (SKUs): each separate type of item that is accounted for in an inventory.
Stockouts: the costs to a seller when it is unable to supply an item to a customer ready to buy
Sustainable products: refers to products that meet present needs without compromising the
ability of future generations to meet their needs.
Systems approach: a company’s objective can be realized by recognizing the mutual
interdependence of the major functional areas of the firm such as marketing, production, finance
and logistics.
Tailored logistics: groups of customers with similar logistical needs and wants are provided
with logistics service appropriate to those needs and wants
Time utility: having products available when customers need them.
Total cost approach: concept that suggests that all relevant activities in moving and storing
products should ne considered as a whole (i.e. their total cost) not individually.
, Chapter 2 – Logistics and information technology
Application specific software: refers to software that has been developed for managers to
deal with specific logistics functions or activities (e.g. transport management systems)
Data: facts or recorded measures of certain phenomena.
Data mining: utilizes sophisticated quantitative techniques to find hidden pattern in large
volumes of data.
Data warehouse: a central repository for all relevant data collected by an organization.
Electronic data interchange (EDI): computer-to-computer transmission of business fata in a
structured format.
Electronic procurement (e-procurement): uses the Internet to make it easier, faster and
less expensive for an organization to purchase goods and services.
Enterprise resources planning (ERP) system: lets a company automate and integrate the
majority of its business process, share common data and practice across the enterprise, produce
and access information in a real time environment.
Global positioning systems (GPS): use satellites that allow companies to compute vehicle
positions, velocity and time.
Information: a body of facts in format suitable for decision-making.
Logistic information system (LIS): people, equipment and procedures to gather, sort,
analyse, evaluate and distribute needed timely and accurate information logistics decision
makers.
On demand software (software as a service): refers to software that users access on a per
use basis instead of software they own or license for installation.
Radio frequency identification (RFID): the use of radio frequency to identify object that have
been implemented with an RFID tag.
Reverse auction: a buyer invites bids from multiple sellers and the seller with lowest bid is
often awarded the business.
Simulation: a technique that models a real world system typically using mathematical
equations to represent the relationship among components of the real world system.
Transportation management system (TMS): the buying and controlling of transportation
services by either a shipper or consignee.
Warehouse management system (WMS): software packages that control the movement and
storage of materials within a warehousing facility.
Wireless communication: refers to communication without cables and cords and includes
infrared, microwave and radio transmissions.
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