Staff

Jan 19, 2011

Interplant Transfer

The shipment of a part or product by one plant to another plant or division within the corporation. Source: http://www.apics.org/ (10th ed.)

Jan 19, 2011

Insource vs Outsource

The act of deciding whether to produce an item internally or buy it from an outside supplier. Factors to consider in the decision include costs, capacity availability, proprietary and/or specialized…

Jan 19, 2011

Facility Location

Location decisions are a basic determinant of profitability in international logistics. Decisions on where to manufacture, to assemble, to store, to transship and to consolidate can make the difference between…

Jan 19, 2011

Forecasting

The business function that attempts to predict sales and use of products so they can be purchased or manufactured in appropriate quantities in advance. Source: http://www.apics.org/ (10th ed.)

Jan 19, 2011

Forecast Error

The difference between actual demand and forecast demand, stated as an absolute value or as a percentage. E.g., average forecast error, forecast accuracy, mean absolute deviation, tracking signal. There are…

Jan 19, 2011

Inbound Logistics

Following the receipt of materials, parts or resale products from external suppliers, the subsequent storage, handling, and transportation requirements to facilitate either manufacturing or market distribution constitute inbound logistics. Source:…

Jan 19, 2011

Forecast Sharing

A supply partnership between a buyer and supplier is based on mutual interdependency and respect and calls for information sharing between the involved parties. By sharing its demand forecast with…

Jan 19, 2011

Information Sharing

A strategic partnering relationship between suppliers and buyers is characterized by a willingness to be open, and to share forecasted demand and cost data as well as the benefits resulting…

Jan 19, 2011

Industry Standards

An industrial standard is a uniform identification that is agreed on. Industrial standardization can be defined as the process of establishing agreement on uniform identifications for definite characteristics of quality,…

Jan 19, 2011

Information Technology

The technology of computers, telecommunications, and other devices that integrate data, equipment, personnel, and problem-solving methods in planning and controlling business activities. Information technology provides the means for collecting, storing,…