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Logistics and SCM: Difference between revisions
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* '''[[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 [[w:value chain|value chain]]. ( 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 [[w:value chain|value chain]]. ( Wikipedia ) | ||
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== Logistics is flow == | |||
* '''[[w:Raw material|Raw material]] [[w:Resource extraction|extraction]]''' and [[w:supplier|supply]] -> '''Component [[w:manufacturer|manufacturer]]s''' -> '''[[w:Final product|Final product]]''' manufacturing -> [[w:distribution (business)]] -> [[w:consumer|consumer]] | |||
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* A '''[[w:lead time|lead time]]''' is the [[:wikt:latency|latency]] (delay) between the initiation and execution of a process. ( Wikipedia ) | * A '''[[w:lead time|lead time]]''' is the [[:wikt:latency|latency]] (delay) between the initiation and execution of a process. ( Wikipedia ) | ||
* '''[[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 ) | |||
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* '''[[w:Reverse logistics]]''' stands for all operations related to the reuse of products and materials. It is "the process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal. ( Wikipedia ) | * '''[[w:Reverse logistics]]''' stands for all operations related to the reuse of products and materials. It is "the process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal. ( Wikipedia ) | ||
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* '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | * '''[[w:Global sourcing|Global sourcing]]''' is the practice of [[w:sourcing|sourcing]] from the global market for goods and services across [[w:geopolitical|geopolitical]] boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia ) | ||
* The '''[[w:waste hierarchy]]''' is a classification of [[w:waste management]] options in order of their environmental impact, such as: [[w:Reduce (waste)|reduction]], [[w:reuse]], [[w:recycling]] and [[w:Energy recovery|recovery]]. | |||
== Purchasing and logistics == | == Purchasing and logistics == | ||