Chapter 11: Supply Chain Management
Supply Chain - correct answer-A sequence of organizations - their facilities, functions, and
activities - that are involved in producing and delivering a product or service.
Supply Chain Management - correct answer-The strategic coordination of the supply chain
for the purpose of integrating supply and demand management.
Logistics - correct answer-The part of a supply chain involved with the forward and reverse
flow of goods, services, cash, and information.
Purchasing Cycle - correct answer-Series of steps that begin with a request for purchase and
end with notification of shipment received in satisfactory condition.
Centralized Purchasing - correct answer-Purchasing is handled by one special department.
Decentralized Purchasing - correct answer-Individual depatrments or separate locations
handle their own purchasing requirements.
E-Business - correct answer-The use of electronic technology to facilitate business
transactions.
Vendor Analysis - correct answer-Evaluating the sources of supply in terms of price, quality,
reputation, and service.
Collaborative Planning, Forecasting, and Replenishment (CPFR) - correct answer-A supply
chain initiative that focuses on information sharing among supply chain trading partners in
planning, forecasting, and inventory replenishment.
Strategic Partnering - correct answer-Two or more business organizations that have
complementary products or services join so that each may realize a strategic benefit.
Inventory Velocity - correct answer-The speed at which goods move through a supply chain.
Bullwhip Effect - correct answer-Inventory oscillations become progressively larger looking
backward through the supply chain.
Vendor-Managed Inventory (VMI) - correct answer-Vendors monitor goods and replenish
retail inventories when supplies are low.
Order fulfillment - correct answer-The processes involved in responding to customer orders.
Logistics - correct answer-The movement of materials, services, cash, and information in a
supply chain.
Supply Chain - correct answer-A sequence of organizations - their facilities, functions, and
activities - that are involved in producing and delivering a product or service.
Supply Chain Management - correct answer-The strategic coordination of the supply chain
for the purpose of integrating supply and demand management.
Logistics - correct answer-The part of a supply chain involved with the forward and reverse
flow of goods, services, cash, and information.
Purchasing Cycle - correct answer-Series of steps that begin with a request for purchase and
end with notification of shipment received in satisfactory condition.
Centralized Purchasing - correct answer-Purchasing is handled by one special department.
Decentralized Purchasing - correct answer-Individual depatrments or separate locations
handle their own purchasing requirements.
E-Business - correct answer-The use of electronic technology to facilitate business
transactions.
Vendor Analysis - correct answer-Evaluating the sources of supply in terms of price, quality,
reputation, and service.
Collaborative Planning, Forecasting, and Replenishment (CPFR) - correct answer-A supply
chain initiative that focuses on information sharing among supply chain trading partners in
planning, forecasting, and inventory replenishment.
Strategic Partnering - correct answer-Two or more business organizations that have
complementary products or services join so that each may realize a strategic benefit.
Inventory Velocity - correct answer-The speed at which goods move through a supply chain.
Bullwhip Effect - correct answer-Inventory oscillations become progressively larger looking
backward through the supply chain.
Vendor-Managed Inventory (VMI) - correct answer-Vendors monitor goods and replenish
retail inventories when supplies are low.
Order fulfillment - correct answer-The processes involved in responding to customer orders.
Logistics - correct answer-The movement of materials, services, cash, and information in a
supply chain.
