Master this deck with 28 terms through effective study methods.
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Involves the flow of materials from supplier to consumer.
Focuses more on transportation and distribution than factory processes.
Ensures efficient use of resources to meet customer service levels.
Standard knowledge and vocabulary for production and inventory control.
A methodology for identifying and managing bottlenecks in processes.
A philosophy aimed at minimizing waste while maximizing productivity.
Leads to inefficiencies and increased costs in distribution and manufacturing.
A quality management approach focused on reducing defects and variability.
Important factors influencing demand prediction and inventory management.
Covers physical inventory and warehouse management practices.
It optimizes the flow of materials in a supply chain.
They measure performance and efficiency in supply chain operations.
It aligns production with demand forecasts.
MRP focuses on production processes, while ERP integrates all business functions.
It outlines what products to produce and when.
They list all components needed for product assembly.
It determines the production capacity needed to meet demand.
It assesses the capacity needed for production schedules.
It balances production workloads to avoid bottlenecks.
It identifies the most limiting factor in a process.
It streamlines procurement based on production needs.
It predicts future customer demand for products.
Intrinsic techniques use historical data, while extrinsic rely on external factors.
They buffer against uncertainties in supply and demand.
It minimizes total inventory costs by determining optimal order size.
It triggers reordering when inventory reaches a certain level.
It acts as a buffer against unexpected demand spikes.
Periodic reviews assess inventory at set intervals, while continuous reviews monitor it constantly.