Supply chain planning and execution Definitions

  • #

    3PL (third-party logistics)

    A 3PL (third-party logistics) provider offers outsourced logistics services, which encompass anything that involves management of one or more facets of procurement and fulfillment activities.

  • 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.  

  • asset performance management (APM)

    Asset performance management (APM) is both a strategy and a set of software tools for tracking and managing the health of an organization's physical assets.

  • B

    bill of materials (BOM)

    A bill of materials (BOM) is a comprehensive inventory of the raw materials, assemblies, subassemblies, parts and components, as well as the quantities of each, needed to manufacture a product.

  • 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.

  • G

    GDSN (Global Data Synchronization Network)

    GDSN (Global Data Synchronization Network) is an internet-based network that enables trading partners to exchange product-identification data in a standardized way in real time.

  • GS1

    GS1 is a global, not-for-profit association that maintains standards for barcodes and RFID tags and for supply chain messaging such as Electronic Data Interchange (EDI).

  • I

    Industry 4.0

    Industry 4.0, which refers to the fourth industrial revolution, is the cyber-physical transformation of manufacturing.

  • K

    Kaizen (continuous improvement)

    Kaizen is an approach to creating continuous improvement based on the idea that small, ongoing positive changes can reap major improvements.

  • 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 management functions that helps organizations plan, manage and implement processes to move and store goods.

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