Flashcards
Supply Chain Management Exam #1
Cards in this deck (37)
- 1What is Logistics (7R's)Getting the right product, to the right customer, in the right quantity, in the right condition, at the right place, at the right time, and at the right cost
- 24 Different Types of LogisticsBusiness Logistics
Military Logistics
Event Logistics
Service Logistics - 3Bullwhip EffectIncreased inventory or stockout costs due to uncertainty about the level or pattern of demand. Magnitude of this effect increases as it moves down the supply chain.
- 4Form UtilityRefers to economic value added to goods through a manufacturing or assembly process
- 5Place UtilityRefers to the economic value added by moving goods from production points to market points where demand exists
- 6Time UtilityEconomic value added to a good or service by having it at a demand point at a specific time when it is needed
- 7Quantity UtilityDelivering proper quantities of an item to where it is demanded
- 8Possession UtilityPrimarily created through the basic marketing activities related to the promotion and sale of products and services
- 95 Forces driving changeGlobalization
Technology
Organizational Consolidation
The Empowered Consumer
Government Regulation - 10Which 3 industries were deregulated?Communications
Transportation
Financial - 11BRIC CountriesBrazil
Russia
India
China - 12VISTA CountriesVietnam
Indonesia
South Africa
Turkey
Argentina - 13Foreign Freight ForwardersUses individuals who are knowledgable in all aspects of international shipments to consolidate smaller shipments into more economical sizes.
- 14Airfreight ForwardersFreight forwarders for air-shipments only. Do not require license from the federal government, unlike Foreign Freight Forwarders
- 15Non-Vessel-Operating Common Carrier (NVOCC)Consolidates and dispenses containers that originate at or are bound to inland points. Will consolidate many containers and bring them back to port for example.
- 16Export Management Companies (EMC)A firm that can supply expertise to firms needed to operate in foreign environments.
Can do everything from generating orders for a company's product to storing it in foreign warehouses. - 17Export Trading Company (ETC)A firm the exports goods and services by locating overseas buyers and handling most of the export arrangements.
- 18Custom House BrokersOversee the movement of goods through customers and ensure that the documentation accompanying a shipment is complete and accurate for entry into the country.
- 19What are the 6 global intermediariesForeign Freight Forwarders
Airfreight Forwarders
Non-Vessel-Operating Common Carriers
Export Management Companies
Export Trading Companies
Customs House Brokers - 20Bonded WarehousesWarehouses, designed by the US Secretary of Treasury, for the purpose of storing, repacking, sorting, or cleaning imported merchandise without paying import duties on the goods in storage
- 21Hold-On-Dock StorageStorage provided by a carrier on their dock until the container can get on the next ship
- 22Top 5 US trading partnersCanada
China
Mexico
Japan
Germany - 23Maquiladora OperationsA concept where US-based firms used Mexican manufacturing facilities for subassembly, component manufacturing, or final assembly of products such as TVs or other electronics
- 24North American Free Trade AgreementAgreement that provides borderless trade between Canada, the U.S. and Mexico
- 25TEUTwenty-foot Equivalent Unit, used to measure capacity of shipping vessels and ports in terms of 20-foot containers
- 26Land BridgeSubstituting land transportation for part of an ocean container's voyage
- 27EfficiencyPerforming in the best possible manner with the least waste of time and effort
- 28EffectivenessProducing an intended or expected result
- 293 Types of Utility found in LogisticsTime utility
Place utility
Quantity utility - 30Value Chain ConceptConcept that describes how inbound and outbound logistics can contribute value to the firm's customers and make the company financially viable to increase sales and improve cash flow
- 31Four flows in supply chainProduct Flow
Information Flow
Cash Flow
Demand Flow - 323 challenges of globalizationMore economic/ political risk
Shorter product life cycles
Blurring of organizational boundaries - 33What do you need to be an awesome supply chain manager?Functional
Technical
Leadership
Global Management
Experience & Credibility - 34Father of ContainerizationMalcom McLean
- 35Where is the US's largest port?Los Angeles
- 36Which country contains most of the largest ports?China
- 37—
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- Flashcards on Supply Chain Management Exam #1, created by Graham Lossin on 21/09/2015.
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- Graham Lossin
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