Compendium admissions 2023-25
Download 4.08 Mb. View original pdf
|
- Navigate this page:
- Bill of Material
- Transit Time
- Reverse Logistics
| Nomenclature in SCM: 1. Logistics: The time-related positioning of resources to meet user requirements. 2. Inventory: A term used to describe all the goods and materials held by an organization for future sale or use a list of items held in stock. 3. FIFO: First in, first out is a method of cost lot tracking where items are valued and sold in the order they were purchased. 4. LIFO: Last in, first out is a method of cost lot tracking where your most recent purchases are sold first. It works exactly opposite to FIFO. 5. Landed Cost: The total cost of ownership of an item. This includes the cost price, shipping charges, customs duties, taxes, and any other charges that the buyer bore 6. Bill of Material: A listing of components, parts, and other items needed to manufacture a product, showing the quantity of each required to produce each end item. 7. Demand-Driven Supply Chains: This is where a supply system is indirect response to a single point of demand. All the components across a supply chain are synchronized to meet the demand that it is trying to fulfill 8. Transit Time: The time taken to move goods physically between different locations in a supply chain or laterally to another facility. 9. Turn Around Time (TAT): The total time taken to repair a component at the repair location, including waiting time but excluding transit time. 10. Reverse Logistics: The requirement to plan the flow of surplus or unwanted material or equipment back through the supply chain after meeting customer demand. 11. Cycle Time: Cycle time is the time gap between two consecutive outputs from a process, as defined by you and your customer. This term is predominantly 12. Lead Time: Lead time represents the time between the moment the customer places the order and the moment he receives it. 13. Download 4.08 Mb. Share with your friends:
|