Supply chain planning and execution Definitions

  • #

    3PL (third-party logistics)

    In business, 3PL has a broad meaning that can be applied to any service contract that involves storing or shipping things.

  • A

    advanced shipping notice (ASN)

    Advanced shipping notice (ASN) is a document that provides detailed information about a pending delivery. The purpose of an ASN is to notify the customer when shipping will occur and provide physical characteristics about the shipment so the customer can be prepared to accept delivery.  

  • B

    bill of materials (BoM)

    A bill of materials (BoM) is a list of the parts or components that are required to build a product. At its most complex, a BoM is a multi-level document that provides build data for multiple sub-assemblies, which are essentially products within products.

  • C

    closed loop manufacturing resource planning (MRP)

    Closed loop manufacturing resource planning, also known as closed loop MRP (CLMRP), is a manufacturing resource planning model that includes returned products in the supply chain.

  • D

    digital supply chain

    A digital supply chain is a supply chain whose foundation is built on Web-enabled capabilities to fully capitalize on connectivity, system integration and the information-producing capabilities of "smart" connected products.

  • distribution requirements planning (DRP)

    Distribution requirements planning (DRP) is a time-based systematic process to make the delivery of goods more efficient by determining which goods, in what quantities, and at what location are required to meet anticipated demand.

  • dual sourcing

    Dual sourcing is the supply chain management practice of using two suppliers for a given component, raw material, product or service. Companies use this approach to lower the risk of relying on a single supplier, a practice called single sourcing. Sole sourcing, in contrast, means only one source is available.

  • L

    liquid logistics

    Liquid logistics is a specialized material-handling and transportation discipline that is used when moving liquid products through a supply chain.

  • logistics

    Logistics is the process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods, including services and related information, from the point of origin to the point of consumption.

  • logistics management

    Logistics management is the governance of supply chain functions.

  • M

    material requirements planning (MRP)

    Material requirements planning (MRP) refers to production planning and inventory control software systems that are used to manage the manufacturing process.

  • O

    order management

    Order management is the administration of business processes related to orders for goods or services.

  • R

    reverse logistics

    Reverse logistics occurs after the sale of a product, such as returning a product to the manufacturer or sending it along for processing in the final stages of its lifecycle.

  • RFI (request for information)

    An RFI (request for information) is a formal process for gathering information from potential suppliers of a good or service.

  • S

    SC sustainability

    Supply chain sustainability is a holistic perspective of supply chain processes and technologies that goes beyond the focus of delivery, inventory and traditional views of cost.

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