Vocabulary for Describing Supply Chain Management and Logistics
- Capacity Planning: The process of determining the number of resources, such as personnel, equipment, and space, needed to meet the demand for a product or service.
- Channel Management: The process of coordinating and controlling the flow of goods and services from the supplier to the customer through intermediaries, such as distributors or retailers.
- Cross-Docking: A logistics strategy in which incoming goods are transferred directly from an incoming truck to an outgoing truck, minimizing the need for storage and handling.
- Demand Forecasting: The process of estimating the future demand for a product or service, based on historical data, market trends, and other factors.
- Inventory Management: The process of tracking and controlling the flow of goods and materials, including the quantities held in stock, the ordering and delivery process, and the management of inventory levels.
- Lead Time: The time between placing an order for a product or service and receiving it, including the time for production, transportation, and other processes.
- Logistics: The process of planning, implementing, and controlling the movement of goods and services from the point of origin to the point of consumption.
- Order Fulfillment: The process of receiving, processing, and delivering an order to the customer, including the management of inventory levels, transportation, and customer service.
- Supply Chain: The network of organizations and activities involved in the production and delivery of a product or service, from the raw materials stage to the end customer.
- Supply Chain Management (SCM): The coordination and management of activities involved in the production and delivery of a product or service, including procurement, production, transportation, and customer service.
- Transportation Management: The process of coordinating and optimizing the movement of goods and services from one location to another, including the selection of carriers, routing, and scheduling.
- Warehouse Management: The process of managing the storage and distribution of goods, including the selection and design of warehouses, the management of inventory levels, and the optimization of material handling processes.
- Supply Chain – A network of entities, directly or indirectly interlinked and interdependent, involved in fulfilling a customer request
- Logistics – The process of planning, implementing, and controlling the movement of goods, services, and information from the point of origin to the point of consumption
- Inventory Management – The process of overseeing and controlling the levels of stock of a company’s goods and raw materials
- Transportation Management – The coordination and movement of goods from one place to another, including the management of trucks, trains, ships, and airplanes
- Warehouse Management – The management of the storage, handling, and distribution of goods in a warehouse
- Procurement – The process of obtaining goods or services from suppliers or vendors
- Sourcing – The process of identifying and selecting suppliers or vendors to provide goods or services
- Distribution – The process of getting goods from the manufacturer to the end consumer, including the coordination of transportation, warehousing, and inventory management
- Route Optimization – The process of finding the most efficient routes for delivery trucks to take to minimize transportation costs and maximize delivery speed
- Capacity Planning – The process of determining the number of resources (labor, equipment, etc.) required to meet the demand for goods or services.
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