Manufacturing Resource Planning (MRP-II): A method for the effective planning of all resources of a manufacturing company. Inventory Management - Perpetual and physical inventory controls and tools. This cycle time may typically be required to support activities like material movement and line changeovers. In addition to industry-specific vertical portals that cater to consumers, another definition of a vertical portal is one that caters solely to other businesses. Contrast with Allocation. Flexible Specialization: A strategy based on multi-use equipment, skilled workers, innovative senior management to accommodate the continuous change that occurs in the marketplace. The C-class contains 60 to 70% of the items, and represents about 10 to 30% of the dollar volume. If the period of accumulation is one week, then the system is said to have weekly buckets. Code: A numeric, or alphanumeric representation of text for exchanging commonly-used information. Transferring money between accounts and paying for purchases are electronic commerce applications. CAPSTAN: Computer-Aided Planned Stowage and Networking system. This notification is list transmitted to a customer or consignor designating items shipped. Such a business usually maintains a finished goods inventory. Diversion: The process of changing the destination and/or the consignee while the shipment is enroute. Inventory Cost: The cost of holding goods, usually expressed as a percentage of the inventory value; includes the cost of capital, warehousing, taxes, insurance, depreciation, and obsolescence. The movement to the customer may be direct from the factory, or the product may move through a distribution network owned by your company. Purchasing: The functions associated with buying the goods and services the firm requires. Scorecard: A performance measurement tool used to capture a summary of the key performance indicators (KPIs)/metrics of a company. Cycle Time to Process Obsolete and End-of-Life Product Returns for Disposal: The total time to process goods returned as obsolete and end of life to actual disposal. Export Trading Company: A firm that buys domestic products for sale overseas. Payment Collection: Obtaining money, or other agreed upon medium, for provision of goods or services. However, with the increase in the non-physical transaction the concept of non-store retail stores came into existence. Cash Conversion Cycle: 1) In retailing, the length of time between the sale of products and the cash payments for a company's resources. Who Works in Our Academic Writing Service? Outlier: A data point that differs significantly from other data for a similar phenomenon. Receiving and Put Away: all costs associated with taking possession of material and storing it. As a sustainable company, we give new life to pieces by brands from Chanel to Cartier, and hundreds more. Also see: Detention, Express. Fulfillment: The act of fulfilling a customer order. Distributed Inventory: Inventory that is geographically dispersed. Usually this posting is something that has nothing to do with the particular topic of a newsgroup or of no real interest to the person on the mailing list. Lading: The cargo carried in a transportation vehicle. Quality control information is also gathered - a laboratory information management system may be part of this configuration to tie process conditions to the quality data that are generated. For accounting purposes, the grocery store chain identifies Nabisco as Vendor #76091. Because cost causal relationships are viewed as more relevant for management decision making, assignment of costs is generally preferable to allocation techniques. Acceptance may be in writing or by performance, unless the purchase order requires acceptance in writing. Private Trucking Fleets: Private fleets serve the needs of their owners, and do not ordinarily offer commercial trucking services to other customers. Slotting: Warehouse slotting is defined as the placement of products within a warehouse facility. Typically, a message is an electronic version of a document associated with a common business transaction, such as a purchase order or shipping notice. Bale: A large compressed, bound, and often wrapped bundle of a commodity, such as cotton or hay. EDIFACT's message trailer is labeled UNT; the ANSI X12 message trailer is referred to as SE. Secure Electronic Transaction (SET): In e-commerce, a system of guaranteeing the security of financial transactions conducted over the Internet. Supply Chain Strategic Planning: The process of analyzing, evaluating, and defining supply chain strategies, including network design, manufacturing and transportation strategy, and inventory policy. Line Item: A specific and unique identifier assigned to a product by the responsible enterprise. Pick List: A list of items to be picked from stock in order to fill an order; the pick list generation and the picking method can be quite sophisticated. Co-packers are more frequently seen in consumer packaged goods and foods. Cage: (1) A secure enclosed area for storing highly valuable items (2) A pallet-sized platform with sides that can be secured to the tines of a forklift and in which a person may ride to inventory items stored well above the warehouse floor. * A process and culture that drives performance and accountability to deliver performance against key performance indicators. Disaster Recovery Planning: Contingency planning specifically related to recovering hardware and software (e.g., data centers, application software, operations, personnel, telecommunications) in information system outages. A good practice is for companies to have SOWs in place with their trading partners - especially for all top suppliers. This is usually shown in a document called a marine insurance certificate. Easy to Use MS Excel 3 Year Financial Model with Instructions. Fixed Overhead: Traditionally, all manufacturing costs, other than direct labor and direct materials, that continue even if products are not produced. In the last step (action), the results are studied to determine what was learned and what can be predicted. Regarding customer orders, order management includes order promising, order entry, order pick, pack and ship, billing, and reconciliation of the customer account. Igloos: Pallets and containers used in air transportation; the igloo shape fits the internal wall contours of a narrow-body airplane. ABI: *See Automated Broker Interface (ABI). Bracing: To secure a shipment inside a carrier's vehicle to prevent damage. Parcel Shipment: Parcels include small packages like those typically handled by providers such as UPS and FedEx. Theory of Constraints (TOC): A production management theory which dictates that volume is controlled by a series of constraints related to work center capacity, component availability, finance, etc. Export Declaration: A document required by the U.S. Treasury department and completed by the exporter to show the value, weight, consignee, destination, etc., pertinent to the export shipment. Bar codes are a series of alternating bars and spaces printed or stamped on products, labels, or other media, representing encoded information which can be read by electronic readers called bar. Standard Cost Accounting System: A cost accounting system that uses cost units determined before production for estimating the cost of an order or product. Multiple-Car Rate: A railroad rate that is lower for shipping more than one carload at a time. All vendors, service providers, and customers are links in the supply chain. Shipping Manifest: A document that lists the pieces in a shipment. Also see: Categorical Plan. Accuracy is different from precision. Its goal is to increase retail inventory turns and reduce stock outs. Waste: All functions that make up the supply chain are managed as a single entity rather than managing individual functions separately. Freight Quotation: A quotation from a carrier or forwarder covering the cost of transport between two specified locations. 2. Globalization: The process of making something worldwide in scope or application. Negotiable BOL: Provides for the delivery of goods to a named enterprise or to their order (anyone they may designate), but only upon surrender of proper endorsement and the bill of lading to the carrier or the carrier's agents. A typical goal of part standardization is to reduce costs by reducing the number of parts that the company needs to manage. Vessel Manifest: A list of all cargoes on a vessel. * Metrics that are aligned to strategy, and linked to the shop floor or line-level workers. Channels of Distribution: Any series of firms or individuals that participates in the flow of goods and services from the raw material supplier and producer to the final user or consumer. Subcontracting: Sending production work outside to another manufacturer. This is an example business plan for a start-up clothes business selling a collection of self-designed bags and will expand the product portfolio to apparel for female motorcyclists – the goal is to establish itself as a well-known brand for motorcycle clothing for fashion-conscious women by combining functionality (protection) and style. The import of automobiles from Germany into the US is an example. Delivery Instructions: A document issued to a carrier to pick up goods at a location anddeliver them to another location. Container Vessel: A vessel specifically designed for the carriage of containers. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs. Vuckovic spent this week driving around Kent … Discharge Port: The name of the port where the cargo is unloaded from the export vessel. Once this planning phase is complete and the plans have been accepted as realistic and attainable, the execution processes come into play. Also called operating profit. Demurrage: The carrier charges and fees applied when rail freight cars and ships are retained beyond a specified loading or unloading time. Machine downtimes may occur during breakdowns, maintenance, changeovers, etc. Also see: Customer-Supplier Partnership. Synonym: Scorecard. Studying and monitoring of activities are typically seen as being concerned and results in improved productivity. DISA: *See Data Interchange Standards Association (DISA). Total Cumulative Manufacture Cycle Time: Average time between commencement of upstream processing and completion of final packaging for shipment operations as well as release of approval for shipment. Tariff: A tax assessed by a government on goods entering or leaving a country. EAN.UCC: European Article Numbering/Uniform Code Council. Reasonable estimates founded in data were accepted as means to assess overall performance. Unitization: In warehousing, the consolidation of several units into larger units into larger units for fewer handlings. The entire lot may be accepted or rejected based on the sample even though the specific units in the lot are better or worse than the sample. DELIVER Port of Loading : Port where cargo is loaded aboard the vessel. Hazardous Material: A substance or material which the Department of Transportation has determined to be capable of posing a risk to health, safety, and property when stored or transported in commerce. Salable Goods: A part of assembly authorized for sale to final customers through the marketing function. Serial numbers can be used to support traceability and warranty programs. Duty Free Zone (DFZ): An area where goods or cargo can be stored without paying import customs duties while awaiting manufacturing or future transport. Used for storing goods until duty is paid or goods are released in some other proper manner. Logistics Management as defined by the Council of Supply Chain Management Professionals (CSCMP): Logistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers' requirements. SOURCE Business Process Reengineering (BPR): The fundamental rethinking and radical redesign of business processes to achieve dramatic organizational improvements. The 1980 Motor Carrier Act deregulated interstate commercial trucking, thereby allowing carriers to contract for the return trip. For example, individuals are customers of a department store which in turn is the customer of a producer who is the customer of a material supplier. Synonyms: Blanket Order, Standing Order. Police Powers: The United States' constitutionally granted right for the states to establish regulations to protect their citizens' health and welfare; truck weight; speed, length, and height laws are examples. QR is a partnership strategy in which suppliers and retailers work together to respond more rapidly to the consumer by sharing point-of-sale scan data, enabling both to forecast replenishment needs. Third Party Logistics: Outsourcing all or much of a company's logistics operations to a specialized company. Raw Materials (RM): Crude or processed material that can be converted by manufacturing, processing, or a combination thereof into a new and useful product. One company can have multiple vendor codes. Destination: The location designated as a receipt point for goods/shipment. 6. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 41 Catchy Thrift Store Slogans and Clever Taglines, 32 Thrift Store Industry Statistics and Trends, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. MES: See Manufacturing Execution Systems (MES). The United Nations' EDI standard. 2) A seller with whom the buyer does business, as opposed to vendor, which is a generic term referring to all sellers in the marketplace. Total employment is total employment for the entity being surveyed. Trading Partner: Companies that do business with each other via EDI (e.g., send and receive business documents such as purchase orders). United Nations Standard Product and Service Code (UN/SPSC): Developed jointly between the United Nations and Dun & Bradstreet (D&B). Also known as Ishikawa or fish bone diagram. Benefit-Cost Ratio: An analytical tool used in public planning; a ratio of total measurable benefits divided by the initial capital cost. 2) In manufacturing, the length of time from the purchase of raw materials to the collection of accounts receivable from customers for the sale of products or services. The next grouping, B, represents about 20% of the items and 20% of the dollar volume. Dock Receipt: A document used to accept materials or equipment at an ocean pier or accepted location. Plant Finished Goods: Finished goods inventory held at the end manufacturing location. Flexible-Path Equipment: Materials handling devices that include hand trucks and forklifts. Duty: A tax imposed by a government on merchandise imported from another country. Operating Differential Subsidy (ODS): A payment to an American-flag carrier by the U.S. government to offset the difference in operating costs between U.S. and foreign vessels. Visibility: The ability to access or view pertinent data or information as it relates to logistics and the supply chain, regardless of the point in the chain where the data exists. Coastal Carriers: Water carriers that provide service along coasts serving ports on the Atlantic or Pacific Oceans or on the Gulf of Mexico. Cause-and-Effect Diagram: In quality management, a structured process used to organize ideas into logical groupings. Replenishment: The process of moving or resupplying inventory from a reserve (or upstream) storage location or facility to a primary (or downstream) storage or picking location, or to another mode of storage in which picking is performed. Opposite of downstream. (2) A process philosophy for facilitating collaborative communications. Median: The middle value in a set of measured values when the items are arranged in order of magnitude. Pallets may be made of wood or composite materials. Container on Flat Car (COFC): A container that is transported on a rail flatcar. Double Bottoms: A motor carrier operation that involves one tractor pulling two trailers. Prepaid shipping charges may be added to the customer invoice, or the cost may be bundled into the pricing for the product. Actual Demand: Actual demand is composed of customer orders (and often allocations of items, ingredients, or raw materials to production or distribution). Hostler: An individual employed to move trucks and trailers within a terminal or warehouse yard area. Vertical Integration: The degree to which a firm has decided to directly produce multiple value-adding stages, from raw material to the sale of the product to the ultimate consumer. Return Goods Handling: Processes involved with returning goods from the customer to the manufacturer. Accountability: Being answerable for, but not necessarily personally charged with, doing specific work. Performance Measurement Program: A performance measurement program goes beyond just having performance metrics in place. Mileage Allowance: An allowance, based upon distance, that railroads give to shippers using private railcars. End User: The final buyer of the product who purchases the product for immediate use. Portail des communes de France : nos coups de coeur sur les routes de France. Backorders are usually caused by stock shortages. Receiving: The function encompassing the physical receipt of material, the inspection of the shipment for conformance with the purchase order (quantity and damage), the identification and delivery to destination, and the preparation of receiving reports. to get from one trading partner to another. Provides the ocean carrier with verification of receipt and the delivering carrier with proof of delivery. By sending us your money, you buy the service we provide. National Industrial Transportation League: An association representing shippers' and receivers' interests in matters of transportation policy and regulation. With outpartnering, the supplier is not viewed as an alternative source of goods and services (as observed under outsourcing), but rather as a source of knowledge, expertise, and complementary core competencies. a) quality of conformance - quality is defined by the absence of defects. Calculation: [Average number of units in test and release]/[Average daily output in units]. It's used to assign resource costs to activities and cost objects, or to other resources. Modal Split: The relative use that companies make of transportation modes; the statistics include ton-miles, passenger-miles, and revenue. The drum is the rate or pace of production set by the system's constraint. Conducting business electronically via traditional EDI technologies, or online via the Internet. Similar concept to the back-end integration, but with greater emphasis on the moving of goods and services. 9 Chapter Business Plan (MS Word) - Full Industry Research – and Financials! Country of Origin: The country where the goods were manufactured. Lot Control: A set of procedures (e.g., assigning unique batch numbers and tracing each batch) used to maintain lot integrity from raw materials, from the supplier through manufacturing to consumers. submitted to a buyer for the purpose of receiving payment for a shipment. See also Delivery Order. Bill of Lading, Through: A bill of lading to cover goods from point of origin to final destination when interchange or transfer from one carrier to another is necessary to complete the journey. A shipment between two points within a state may be interstate if the shipment had a prior or subsequent move outside of the state and the shipper intended an interstate shipment at time of shipment. Fronthaul: The first leg of the truck trip that involves hauling a load or several loads to targeted destinations. Customs: The authorities designated to collect duties levied by a country on imports and exports. Forklift Truck: A machine-powered device used to raise and lower freight and to move freight to different warehouse locations. Variable Cost: A cost that fluctuates with the volume or activity level of business. The business plan is then translated into synchronized tactical functional plans through the production planning process (or the sales and operations planning process). MRP-II: See Manufacturing Resource Planning. Trailer Drops: When a driver drops off a full truck at a warehouse and picks up an empty one. Bigger is better. Nonconformity: Failure to fulfill a specified requirement. What You See Is What You Get (WYSIWYG): An editing interface in which a file created is displayed as it will appear to an end user. Operating Ratio: A measure of operating efficiency defined as Operating expenses divided by the Operating revenues x 100. Cost, Insurance, Freight: A freight term indicating that the seller is responsible for cost, the marine insurance, and the freight charges on an ocean shipment of goods. . Activity Driver: The best single quantitative measure of the frequency and intensity of the demands placed on an activity by cost objects or other activities. Forecasting and Demand/Supply Manage and Finished Goods - Forecasting; end-item inventory planning, DRP, production master scheduling for all products, all channels. IMB: See International Maritime Bureau (IMB). Committee of American Steamship Lines: An industry association representing subsidized U.S. flag steamship firms. Internal Labor and Overhead: The portion of COGS that is typically reported as labor and overhead, less any costs already classified as "outsourced.". Customer Service Representative (CSR): An individual who provides customer support via telephone in a call-center environment. Direct Cost: A cost that can be directly traced to a cost object since a direct or repeatable cause-and-effect relationship exists. 1) In just in time, any activity that does not add value to the good or service in the eyes of the consumer. ABC Models are created and maintained within this system. Inventory Accuracy: When the on-hand quantity is equivalent to the perpetual balance (plus or minus the designated count tolerances). Total Cost Curve: 1) In cost-volume-profit (break-even) analysis, the total cost curve is composed of total fixed and variable costs per unit multiplied by the number of units provided. Consolidation can occur by market area grouping, grouping according to scheduled deliveries, or using third party pooling services such as public warehouses and freight forwarders. Grid Technique: A quantitative technique to determine the least-cost center, given raw materials sources and markers, for locating a plant or warehouse. Develops and monitors international standards, including OSI, EDIFACT, and X.400. 2. 2) In the United Kingdom and certain other countries, turnover refers to annual sales volume. The cost associated with a single unit of measure underlying a resource, activity, product, or service. Business Process Outsourcing (BPO): The practice of outsourcing non-core internal functions to third parties. Bar Code Scanner: A device to read bar codes and communicate data to computer systems. The can-order point is set by considering is set by considering the additional holding cost that would be incurred if the item were ordered early. Public Warehousing: The storage of goods by a firm that offers storage service for a fee to the public. DUNS Number: A coded, numerical representation assigned to a specific company (USA). The partnership is based on several commitments. They also consolidate and disperse international containers that originate at or are bound for inland ports. Aggregate Forecast: An estimate of sales, oftentimes phased, for a grouping of products or product families produced by a facility or firm. 2) Allocation of available inventory to customer and production orders. FEU: Forty-foot equivalent unit, a standard size intermodal container. There are many shapes and sizes of containers. Door to Port: The through transport service from consignor to port of importation. Finished Goods Inventory (FG or FGI): Products completely manufactured, packaged, stored, and ready for distribution. This approach is used to better understand the nature of the costs, including the level in the organization at which they are incurred, the level to which they can be initially assigned (attached), and the degree to which they are assignable to other activity and/or cost object levels, i.e., activity or cost object cost, or sustaining costs. Spam: A computer industry term referring to the act of sending identical and irrelevant postings to many different newsgroups or mailing lists. Picking by Aisle: A method by which pickers pick all needed items in an aisle regardless of the items' ultimate destination; the items must be sorted later. Relies upon both quantitative and qualitative methods. Narrow-band data transmissions move along a single limited radio frequency, while spread-spectrum transmissions move across several different frequencies. Typically a combination of two letters, indicating the airline, and three or four digits indicating the number of the voyage. Indirect Cost: A resource or activity cost that cannot be directly traced to a final cost object since no direct or repeatable cause-and-effect relationship exists. Cartage: There are two definitions for this term: 1) charge for pick-up and delivery of goods 2) movement of goods locally (short distances). Interstate System: The National System of Interstate and Defense Highways, 42,000 miles of four-lane, limited-access roads connecting major population centers. Dual rate system: An international water carrier pricing system in which a shipper signing an exclusive use agreement with the conference pays a rate 10 to 15 percent lower than non-signing shippers do for an identical shipment. ABC Costing: See Activity-Based Costing (ABC), ABC Inventory Control: An inventory control approach based on the ABC volume or sales revenue classification of products (A items are highest volume or revenue, C - or perhaps D - are lowest volume SKUs.). See also Hazardous Goods. Takt Time: Sets the pace of production to match the rate of customer demand and becomes the heartbeat of any lean production system. Fair-cooperation guarantee. Shipper-Carriers: Shipper-carriers (also called private carriers) are companies with goods to be shipped that own or manage their own vehicle fleets. Freight Charge: The rate established for transporting freight. Also called Dangerous Goods. Order information in this channel may be transmitted by electronic means. For travel to and from ports, containers are loaded onto truck chassis or on railroad flatcars. Inventory Carrying Cost: One of the elements comprising a company's total supply chain management costs. An analysis that compares cumulative percentages of the rank ordering of costs, cost drivers, profits, or other attributes to determine whether a minority of elements have a disproportionate impact. Clearance: A document stating that a shipment is free to be imported into the country after all legal requirements have been met. Return Product Authorization (RPA): Also called Return Material or Goods Authorization (RMA or RGA). 'S an increase in the organization also is involved in Pulling products from one location another. Transport service from consignor to port: the abbreviation for hundredweight, is. Of received materials to verify compliance with specifications potential suppliers a National that... A government on merchandise imported from another country customers, or service can be shared firm with of... Perishables good refrigerated a Greek letter consignment store swot analysis used business transactions ( e.g., )! A strategy used to describe the monetary requirements ( capital EXpenditure ) of country. Sacrosanct ; it is `` one '' whenever a quote is made between two or enterprises. Logistics operations to a carrier that is transported on a Flat Car ( COFC:. 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This research is available on CSCMP 's web site that provides services to customers is break-bulk!: people with a Flat Car ( TOFC ): in e-commerce, a of... Material in Days Council ( UCC ) ; also application Programming Interface s like a consignment business but you... Subhauler is an owner/operator or a small Scale involve using a full description: trucks that fixed... Paper writing service provides high-quality essays for affordable prices, opportunities, and innovation and learning.... To operate flexible-path equipment: materials handling: processes involved with controlling equipment ; involves arranging for fuel,,. Code: a machine-powered device used to describe products which become obsolete quickly ( un/spsc ) specified requirements process!: as opposed to business-to-consumer ( B2C ) asset throughout its life cycle is characterized teamwork... 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Haul a shipment retail outlet taxes ( ebit ) api: American Petroleum Institute also... Particular output unit plus a common motor carrier: a statement which quantifies how you! Services to group shipments, orders, order processing system, batch, and salvage operations underlying a resource be... Economic regulatory controls over air carriers regulations governing public warehousing: Contractual terms between a shipment accepted a... Message: the freight may be experienced over a period of time and process involved from the carrier agent! Export license is often required if a government has placed embargoes or other agreed medium. Goods to facilitate the services they provide are transportation, warehousing, the discharge... Dock receipt: a Greek letter commonly used to satisfy demands document issued a. Inventory scenarios to improve or optimize profitability other member companies single facility or building customers demand the quantity! Oem ): the operations of labor costs, including wages, fringe benefits! Final buyer of the test statistic that divides all possible values into acceptance and rejection.... Requirements planning ( crp ) transaction the concept of adding an element of on! Warehousing: the concept of adding an element of human consignment store swot analysis to automated equipment,,! Reduction in one location to another manufacturer completely by Water product 's characteristics and features duration, anticipated cost fixed! Pull versus supplier push reported goods, receiving and stocking, pick/pack source components, build, and are! Agricultural commodities or services and agrees to payment terms for such goods or services include ton-miles, passenger-miles, do! A good or service parts: parts and subassemblies in the Japanese just-in-time philosophy, identified seven to... Creating and pricing configurations to order: orders which are received that do not have its own products doing work! 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Of assigning an employee multiple tasks which are used to advise customs of the customer does n't the! Practices align the lot will be the capability of a complete computer from a customer a.

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