Intro to Supply Chain Management 140

This class describes the flow of products and information in a supply chain and explains the importance of customer service.

Difficulty Beginner
Format Online
Number of Lessons 15
Language English

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Objectives
What Is a Supply Chain?
History of Supply Chains
Definition of Supply Chain Management
The New Supply Chain Network
Materials and Information
The Responsive Supply Chain
The Efficient Supply Chain
The Importance of Long-Term Relationships
Forecasting
Just-in-Time Production
The Definition of Value
The Importance of Service
The Importance of Customer Retention
Summary

Define supply chain.
Describe the history of supply chains.
Define supply chain management.
Describe how companies best relate to one another in supply chains.
Identify common resources that flow in a supply chain.
Describe the products best distributed through a responsive supply chain.
Describe the products best distributed through an efficient supply chain.
Describe the benefits of long-term suppliers.
Define forecasting.
Describe the characteristics of just-in-time production.
Describe common factors that impact value.
Identify the importance of customer service.
Describe how supply chain management impacts customer retention.

Vocabulary Term

Definition

brand

A name or symbol used to represent a company or its products. A brand helps to make a product recognizable in the minds of customers.

core competencies

The areas of expertise that distinguish a company from its competition. Core competencies reflect what a company does best.

customer

An organization or individual that receives a product or service from a company.

customer service

The area of business that focuses on timely and complete product delivery, as well as the repair and replacement of products after sale.

distributor

A company that sells a variety of products to a customer. Many companies sell products to a distributor before they reach the final customer.

finance

The area of business that focuses on the effective management of money and other company assets.

forecasting

A prediction of customer demand used to calculate future inventory levels.

information technology

The systems and resources that a company uses to collect and organize the information necessary for conducting business.

inventory

Manufactured products that are stored before being shipped to the customer.

just-in-time

An approach to production and distribution that emphasizes flexible processes and reduced inventories to decrease costs and improve responsiveness.

logistics

The area of business that focuses on the purchase, production, and distribution of materials. The term "logistics" now suggests a focus of these activities within a single company.

marketing

The area of business that focuses on selling products to a consumer and encouraging sales.

supplier

An organization that provides a product to a company. Products are often passed in a chain, from the supplier to the company to the customer.

supply chain

A network of companies that exchange resources such as materials and information to deliver products to customers. Supply chains consist of a company, its suppliers, its distributors, and its customers.

supply chain management

The effective coordination of companies within a supply chain that manage their resources to meet the needs of customers.

value

A real or perceived quality that satisfies the needs and wants of a customer. Value includes the features of a product, as well as other qualities associated with the product.

value stream

The series of activities within a supply chain that add value from the perception of the customer.