eng
competition

Text Practice Mode

Supply chain management

created Monday March 31, 02:12 by DZS


1


Rating

335 words
184 completed
00:00
Supply chain management is the coordination of all parties involved in fulfilling a customer request. APICS defines it as the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value. CPIM stands for Certified in Planning and Inventory Management.
 
The five basic functions of a supply chain are plan, source, make, deliver, and return. MRP stands for Material Requirements Planning. It calculates what materials are needed, how much, and when. ERP stands for Enterprise Resource Planning, which integrates core business processes like finance, HR, production, and inventory.
 
Lead time is the total time required to manufacture an item. Safety stock is extra inventory held to guard against uncertainty in demand or supply. Cycle counting is a method of inventory auditing where a small subset of inventory is counted on any given day.
 
Independent demand is demand for finished goods, while dependent demand is demand for components or subassemblies. A bill of materials, or BOM, is a structured list of all materials and components needed to produce an item.
 
Kanban is a visual signal system to control the flow of production. Lean manufacturing aims to reduce waste without sacrificing productivity. Just-in-time, or JIT, means producing and delivering goods only as they are needed.
 
Inventory turnover is a ratio showing how many times inventory is sold and replaced over a period. Forecast accuracy is critical to avoid stockouts and excess inventory. CPIM modules include Planning, Inventory, Scheduling, Execution, and Strategy.
 
The ABC classification system categorizes inventory based on value and importance. Class A items are high value and tightly controlled, while Class C items are low value and less frequently counted.
 
Capacity planning ensures that a company has enough resources to meet future demand. Rough-cut capacity planning, RCCP, checks whether critical resources are sufficient to meet the master production schedule.
 
CPIM teaches you to align supply and demand, reduce costs, improve forecasting, and enhance customer satisfaction. It is ideal for professionals in inventory management, production planning, procurement, and operations.
 
 

saving score / loading statistics ...