SCM Supply Chain Management Definitions &amp; Terms

Jan 19, 2011

Cost Management

In terms of activity-based cost accounting, cost management involves control of activities to eliminate waste, improve cost drivers, and plan operations. This process should influence the organization’s strategy setting process.…

Jan 19, 2011

Customer Value

The customer value approach focuses on how people choose among competing suppliers, customer attraction and retention, and market-share gains. Answering three customer value questions is important in order to determine…

Jan 19, 2011

Service Level Agreement

Service-level agreements (SLAs) are contracts between service providers and customers that define the services provided, the metrics associated with these services, acceptable and unacceptable service levels, liabilities on the part…

Jan 19, 2011

New Product Development

See: Lead Times/Cycle Times, Supplier Integration in New Product Development

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,…

Jan 19, 2011

Contract Management

Contract management is a strategic management discipline employed by both buyers and sellers whose objectives are to manage customer and supplier expectations and relationships, control risk and cost, and contribute…

Jan 19, 2011

Scheduling

Scheduling involves taking decisions regarding the allocation of available capacity or resources (equipment, labor and space) to jobs, activities, tasks or customers over time. Scheduling thus results in a time-phased…

Jan 19, 2011

Market Analysis

See: Business-to-Business, Channel Management, Customer Relationship Management (CRM), Customer Value, Promotions

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

Contract

An agreement between two or more competent persons or companies to perform or not to perform specific acts or services or to deliver merchandise. A contract may be oral or…