Supply chain management Definitions

  • S

    supplier risk management

    Supplier risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings that are caused by the organization's supply chain. 

  • supply chain analytics

    Supply chain analytics is the application of analytics to supply chain data to improve forecasting and efficiency and be more responsive to customer needs.

  • supply chain execution (SCE)

    Supply chain execution (SCE) is the flow of tasks involved in the supply chain, such as order fulfilment, procurement, warehousing and transporting.

  • Supply Chain Operations Reference (SCOR)

    Supply Chain Operations Reference (SCOR) is the process reference model used across industries as a supply chain management diagnostic tool.

  • Supply Chain Planning (SCP)

    Supply chain planning (SCP) is the process of anticipating the demand for products and planning their materials and components, production, marketing, distribution and sale.

  • supply chain security

    Supply chain security is the part of supply chain management (SCM) that focuses on minimizing risk for supply chain, logistics and transportation management systems (TMS).

  • supply chain sustainability (SCS)

    Supply chain sustainability (SCS) is a holistic view of supply chain processes, logistics and technologies that addresses the environmental, social, economic and legal aspects of a supply chain's components.

  • supply chain visibility (SCV)

    Supply chain visibility (SCV) is the ability of parts, components or products in transit to be tracked from the manufacturer to their final destination.

  • SYSPRO

    SYSPRO is a vendor that specializes in providing ERP and other integrated business software to midsize manufacturers and distributors.

  • What Is Supply Chain Management (SCM) and Why Is It Important?

    Supply chain management (SCM) is the broad range of activities required to plan, control and execute a product's flow from materials to production to distribution in the most economical way possible.

  • T

    traceability

    Traceability, in supply chain management, is the ability to identify, track and trace elements of a product or substance as it moves along the supply chain from raw goods to finished products. The concept applies to both the discrete manufacturing industry, which produces products such as automobiles, and to the process manufacturing industry, which includes products such as chemicals.

  • Transportation Management System (TMS)

    A transportation management system (TMS) is specialized software for planning, executing and optimizing the shipment of goods.

  • V

    value driver

    A value driver is an activity or capability that adds worth to a product, service or brand. One of the key ideas in defining value drivers is determining which factors provide the organization in question with a competitive edge.

  • vendor-managed inventory (VMI)

    Vendor-managed inventory (VMI) is an inventory management technique in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor.

  • virtual commissioning

    Virtual commissioning is the practice of using 3D technology to create a simulation model of a manufacturing plant so that proposed changes and upgrades can be tested before they are implemented to the actual plant.

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