Upstream component of a supply chain sourcing or

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Upstream component of a supply chain : sourcing or procurement takes place. Internal component of a supply chain : packaging, assembly, or manufacturing takes place. Downstream component of a supply chain : distribution takes place. Material flows are the physical products, raw materials, supplies and so forth that flow along the chain. Information flows are all data related to demand, shipments, orders, returns and schedules as well as changes in any of these data. Financial flows are all transfers of money, payments and credit-related data. A supply chain involves a product life cycle approach, from “dirt to dust”. Supply chain management (SCM) is the function of planning, organizing and optimizing the supply chain’s activities. Interorganizational information system (IOS) involves information flows among two or more organizations.
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Just-in-time inventory : a system in which a supplier delivers the precise number of parts to be assembled into a finished product at precisely the right time. Vendor-managed inventory : an inventory strategy where the supplier monitors a vendor’s inventory for a product or group of products and replenishes products when needed. Electronic data interchange (EDI) is a communication standard that enables business partners to exchange routine documents, such as purchase orders, electronically. Extranets link business partners to one another over the Internet by providing access to certain areas of each other’s corporate intranets.
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