WITH 100% CORRECT ANSWERS
◉ Transportation. Answer: The function of planning, scheduling, and
controlling activities related to mode, vendor, and movement of
inventories into and out of an organization.
◉ Benchmarking. Answer: Comparing products, processes, and services
to another organization thought to have superior performance. The
benchmark target may or may not be a competitor or even in the same
industry. There are 7 common forms: competitive, financial, functional,
performance, process, product, strategic.
◉ Dwell. Answer: The duration of time between when cargo arrives in a
terminal's in-transit storage area and when it is shipped out by clearance
transportation.
◉ Supply Chain Operations Reference Model. Answer: A process
reference model developed and endorsed by the Supply Chain Council
as the cross-industry, standard diagnostic tool for supply chain
management. The SCOR model describes the business activities
associated with satisfying a customer's demand, which include plan,
source, make, deliver, and return. Use of the model includes analyzing
the current state of the company's processes and goals, quantifying
, operational performance, and comparing company performance to
benchmark data. SCOR has developed a set of metrics for supply chain
performance, and Supply Chain Council members have formed industry
groups to collect best practices information that companies can use to
evaluate their supply chain performance.
◉ Landed Cost. Answer: This cost includes the product cost plus the
cost of logistics, such as warehousing, transportation, and handling fees.
◉ Assembled-to-Order (ATO). Answer: A production environment
where a good or service can be assembled after receipt of a customer's
order. The key components (bulk, semi-finished, intermediate,
subassembly, fabricated, purchased, packing, and so on) used in the
assembly or finishing process are planned and usually stocked in
anticipation of a customer order. Receipt of an order initiates assembly
of the customized product. This strategy is useful where a large number
of end products (based on the selection of options and accessories) can
be assembled from common components.
◉ Value Added. Answer: 1.) In accounting, the addition of direct labor,
direct material, and allocated overhead assigned at an operation. It is the
cost roll-up as a part goes through a manufacturing process to finished
inventory. 2.) In current manufacturing terms, the actual increase of
utility from the viewpoint of the customer as a part is transformed from
raw material to finished inventory. It is the contribution made by an
operation or a plant to the final usefulness and value of a product, as
seen by the customer. The objective is to eliminate all non-value-added
activities in producing and providing a good or service.