vocab - bullwhip effect the phenomenon that occurs in a...

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bullwhip effect: the phenomenon that occurs in a supply chain when order size variability is amplified as orders move upstream in the supply chain from the retailer to the manufacturer. consignment inventories : inventories that r physically present in a firm’s facility but r owned by the supplier. disintermediation: the elimination of many of the steps in the supply chain. EDI (Electronic Data Interchange) :direct link between a manufacturers data base & vendor or customer. efficient consumer response (ECR) : strategy for bringing distributors, suppliers, and supermarkets closer together that uses bar-code scanning and EDI. functional product: a commodity-type product that exhibits stable demand and low profit margins. inbound logistics: delivery of goods & services that are purchased from suppliers &/or their distributors. Innovative product: a new product that has a high degree of innovation and exhibits unstable demand and high profit margins. outbound logistics: delivery of goods & services that are sold to a firms customers &or their distributors. quick response programs (QR): Just in time replenishment programs that use barcode scanning and EDI. supplier-managed inventories(SMI) : Inventories in a firm’s facility that are the responsibility of the supplier to maintain and replenish as necessary. supply chain : the steps and the firms that perform these steps in the transformation of raw material into finished products bought by customers. supply chain management: the long-term relationship between a firm and its suppliers to ensure the timely delivery of goods and services that are competitively priced.
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