Chapter 9 Vocab - Supply Chain

The impact exerted on both customers and competitors by Amazon, due to its on-going emphasis of developing, refining, and quickly implementing new ways of delivering solutions to customers.

the design and execution of fulfillment processes that provide customers with products and services they desire

a supplier's ability to provide product ability, lead-time performance, and service reliability

the capacity to have a product or service present when and where it is desired by a customer

an event that occurs when there is demand for an item and no inventory is available

a measure of the occurrence of stockouts over time or over multiple orders from customers

total units delivered/total units ordered

number of order lines delivered complete / total order lines

a specific item that is independently inventoried and managed (product line)

total complete orders delivered / total orders

the amount of time that passes between the beginning and end of a set of activities

the time that passes from the instant the customer places an order until the instant the customer receives the product

unique, customized products

products that have similar designs but are customized during production

products that are produced from standard components and modules

finished goods that are held in inventory in advance of customer orders

ability to deliver products and services on time and error free

the network of physical devices that are embedded with sensors, software, and connectivity that enable date exchange and analysis

an electronic document that provides detailed info about a pending delivery

the notion that an order should be delivered without failure in any attribute

a distribution strategy in which customers can place orders and receive and return purchases in different ways

a product designed to deliver a wide range of customizable services

the process of obtaining ideas or services by soliciting contributions from a large group of people

meeting or exceeding customer expectations

the gap between customers' real expectations and managers' perceptions of those expectations

the gap that exists when internal performance standards do not adequately or accurately reflect customer expectations

the difference between standard and actual performance

the difference between a company's actual performance and what a company communicates about its performance

the gap that exists when customers perceive performance to be different than what is actually provided

the difference between perceived performance and the customer's performance