User:Jukeboksi/BBA studies/Logistics and SCM: Difference between revisions
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* A '''[[w:value chain|value chain]]''' is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable [[w:product (business)|product]] or [[w:Service (economics)|service]] for the [[w:Market (economics)|market]]. ( Wikipedia ) | * A '''[[w:value chain|value chain]]''' is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable [[w:product (business)|product]] or [[w:Service (economics)|service]] for the [[w:Market (economics)|market]]. ( Wikipedia ) | ||
* '''[[w:Value chain management capability|Value chain management capability]]''' refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its value chain. ( Wikipedia ) | * '''[[w:Value chain management capability|Value chain management capability]]''' refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its [[w:value chain|value chain]]. ( Wikipedia ) | ||
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* '''[[w:Reverse logistics|Reverse logistics]]''' is also needed in SCM ( already discussed in [[Logistics]] ) | * '''[[w:Reverse logistics|Reverse logistics]]''' is also needed in SCM ( already discussed in [[Logistics]] ) | ||
'''4 strategic decisions''' | '''4 strategic decisions''' | ||
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# Own [[w:fleet]] or hire outsiders ? ( [[w:private carrier|private carrier]] or [[w:common carrier]]) | # Own [[w:fleet]] or hire outsiders ? ( [[w:private carrier|private carrier]] or [[w:common carrier]]) | ||
# Will the company manage transportation operations or [[w:Outsourcing|hire a 3rd party]] ? | # Will the company manage transportation operations or [[w:Outsourcing|hire a 3rd party]] ? | ||
*'''[[w:Fleet vehicles|Fleet vehicles]]''' are groups of [[w:motor vehicle|motor vehicle]]s owned or leased by a business or government agency, rather than by an individual or family. Typical examples are vehicles operated by [[w:Car rental|car rental companies]], [[W:Taxicab|taxicab companies]], [[w:Public utility|public utilities]], public bus companies, and police departments. In addition, many businesses purchase or lease fleet vehicles to deliver [[w:good (economics)|goods]] to customers, or for sales representatives to travel to clients. ( Wikipedia ) | *'''[[w:Fleet vehicles|Fleet vehicles]]''' are groups of [[w:motor vehicle|motor vehicle]]s owned or leased by a business or government agency, rather than by an individual or family. Typical examples are vehicles operated by [[w:Car rental|car rental companies]], [[W:Taxicab|taxicab companies]], [[w:Public utility|public utilities]], public bus companies, and police departments. In addition, many businesses purchase or lease fleet vehicles to deliver [[w:good (economics)|goods]] to customers, or for sales representatives to travel to clients. ( Wikipedia ) | ||
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* '''[[w:International]] logistics''' vs. | * '''[[w:International]] logistics''' vs. | ||
* '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | * '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | ||
* '''[[w:Purchasing|Purchasing]]''' refers to a business or organization attempting to acquiring goods or services to accomplish the goals of its enterprise. ( Wikipedia ) | * '''[[w:Purchasing|Purchasing]]''' refers to a business or organization attempting to acquiring goods or services to accomplish the goals of its enterprise. ( Wikipedia ) | ||
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* A '''[[w:purchase order|purchase order]]''' ('''PO''') is a [[w:Trade|commercial]] document and first official offer issued by a [[w:buyer|buyer]] to a [[w:vendor (supply chain)|seller]], indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Acceptance of a purchase order by a seller usually forms a [[w:contract|contract]] between the buyer and seller, so no contract exists until the purchase order is accepted. ( Wikipedia ) | * A '''[[w:purchase order|purchase order]]''' ('''PO''') is a [[w:Trade|commercial]] document and first official offer issued by a [[w:buyer|buyer]] to a [[w:vendor (supply chain)|seller]], indicating types, quantities, and agreed prices for products or services the seller will provide to the buyer. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Acceptance of a purchase order by a seller usually forms a [[w:contract|contract]] between the buyer and seller, so no contract exists until the purchase order is accepted. ( Wikipedia ) | ||
World class purchasing must accomondate | |||
* '''[[w:Total quality management|Total quality management]]''' / '''TQM''' is an integrative philosophy of management for continuously improving the [[w:Quality (business)|quality]] of products and [[w:business process|processes]]. ( Wikipedia ) | * '''[[w:Total quality management|Total quality management]]''' / '''TQM''' is an integrative philosophy of management for continuously improving the [[w:Quality (business)|quality]] of products and [[w:business process|processes]]. ( Wikipedia ) | ||
* '''[[w:Just in time (business)|Just in time]]''' ('''JIT''') is a production strategy that strives to improve a business [[w:return on investment|return on investment]] by reducing in-process [[w:inventory|inventory]] and associated [[w:carrying cost|carrying cost]]s. ( Wikipedia ) | * '''[[w:Just in time (business)|Just in time]]''' ('''JIT''') is a production strategy that strives to improve a business [[w:return on investment|return on investment]] by reducing in-process [[w:inventory|inventory]] and associated [[w:carrying cost|carrying cost]]s. ( Wikipedia ) | ||