Assigned Problems
Problems One, Five, and Eight
1. Match the following terms with the appropriate definitions:
i. JIT: An SCM innovation that optimizes ordering quantities such that parts or raw material arrive just when they are needed for production
ii. Supply chain efficiency: The extent to which a company’s supply chain is focusing on minimizing procurement, production, and transportation costs
iii. Supply chain: Commonly used to refer to the network of producers of supplies that a company uses
iv. Supply chain visibility: The ability to track products as they move through the supply chain but also to foresee external events.
v. CRM {Customer relationship management}: Applications that help to create and maintain lasting relationships with customers by concentrating on the downstream information flows
vi. CIC {Customer interaction center} : The use of multiple communication channels to support the communication preferences of customers
vii. SCM {Supply chain management}: Applications that help to improve inter-organizational business processes to accelerate product development and innovation to reduce costs
viii. VMI {Vendor-managed inventory}: A business model in which the suppliers to a manufacturer (or retailer) manage the manufacture’s (or retailer’s) inventory levels based on pre-established service levels
ix. CAM {Computer-aided manufacturing}: The use of information systems to control production processes
x. RFID {Radio frequency identification}: The sue of electromagnetic energy to transmit information between a reader (transceiver) a processing device, used to replace bar codes and bar code readers
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