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Logistics and SCM: Difference between revisions
definition of w:material flow + applications
(→Notes from slides: good definition of w:logistics from slides) |
(definition of w:material flow + applications) |
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=== Notes from slides === | === Notes from slides === | ||
* '''''[[w:Logistics|Logistics]]''' is the [[w:process|process]] that integrates and co-ordinates the elements within the [[w:supply chain|supply chain]]'' ( Teacher slide core wikified ) | * '''''[[w:Logistics|Logistics]]''' is the [[w:process|process]] that integrates and co-ordinates the elements within the [[w:supply chain|supply chain]]'' ( Teacher slide core wikified ) | ||
::: to ensure the best possible [[w: | ::: to ensure the best possible [[w:material flow|flow of materials]] and [[w:information|information]] | ||
* '''[[w:Material flow|Material flow]]''' (MF) is the description of the transportation of raw materials, pre-fabricates, parts, components, integrated objects and finally products as a flow of entities. The term applies mainly to advanced modeling of [[w:Supply chain management|Supply chain management]]. As industrial material flow can easily become very complex [[w:Plant Simulation|Plant Simulation]] Software has been developed to simulate, visualize, analyze and optimize these processes. ( Wikipedia ) | |||
A '''[[w: | * A '''[[w:lead time|lead time]]''' is the [[:wikt:latency|latency]] (delay) between the initiation and execution of a process. ( Wikipedia ) | ||
'''[[w:Value chain management capability|Value chain management capability]]''' refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its value chain. ( Wikipedia ) | * A '''[[w:value chain|value chain]]''' is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable [[w:product (business)|product]] or [[w:Service (economics)|service]] for the [[w:Market (economics)|market]]. ( Wikipedia ) | ||
* '''[[w:Value chain management capability|Value chain management capability]]''' refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its value chain. ( Wikipedia ) | |||
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