supply chain collaboration - ANSWERSinteraction between 2 or more parties to achieve a common goal and obtain mutual benefit
supply chain integration - ANSWERS-close alignment within a supply chain to achieve the same business objectives
-ensures the company has the materials it needs to produc...
Logistics Final Questions & Answers
supply chain collaboration - ANSWERSinteraction between 2 or more parties to achieve
a common goal and obtain mutual benefit
supply chain integration - ANSWERS-close alignment within a supply chain to achieve
the same business objectives
-ensures the company has the materials it needs to produce its output
coordination - ANSWERSthe synchronization and integration of activities to ensure that
the resources of an organization are used most efficiently in the pursuit of objectives
integration - ANSWERSan association of customers and suppliers who work together to
optimize their collective performance in the creation and distribution of an end product
Sales & Operations Planning - ANSWERSmeetings bringing executives from all major
departments together to determine how best to manage company resources
SCOR Model (supply chain operations reference) - ANSWERSframework that links
business processes, performance metrics, practices, and people skills into a unified
structure
-Processes: plan, source, make, deliver, return, (enable)
vertical integration - ANSWERScompany expands its business operations into different
steps on the same production path, such as when a manufacturer owns its suppliers
and/or distributor
VMI (vendor managed inventory) - ANSWERSmeans of optimizing supply chain
performance in which the manufacturer is responsible for maintaining the distributor's
inventory levels.
CPFR (collaborative planning, forecasting and replenishment) - ANSWERSbusiness
practice that seeks to reduce supply chain costs by promoting greater integration,
visibility and cooperation b/w trading partners' supply chain
INCO terms (international commercial terms) - ANSWERStrade terms commonly used
in both international and domestic trade contracts.
-makes international trade easier by helping traders who are in different countries
understand one another
porter's diamond - ANSWERSmodel that helps nations or groups understand the
competitive advantages they possess due to certain factors available to them
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