Jan 19, 2011
A long-term relationship between a buyer and a supplier characterized by teamwork and mutual confidence. The supplier is considered an extension of the buyer’s organization. The partnership is based on…
Supplier performance measurement and evaluation includes the methods and techniques used to collect information that can be used to measure, rate or rank supplier performance on a continuous basis. The…
An agreement between two or more firms to risk equity capital to attempt a specific business objective. Source: http://www.apics.org/
The function of recognizing all demands for goods and services to support the market place. It involves prioritizing demand when supply is lacking. Proper demand management facilitates the planning and…
A marketing philosophy based on putting the customer first. It involves the collection and analysis of information designed for sales and marketing decision support to understand and support existing and…
The most critical ingredient of a successful procurement of services is the development and documentation of the requirements – the statement of work. The S.O.W. identifies what the contractor is…
The process related to the storage and movement of the final product and related information flows from the end of the production line to the end user. Sources: Christopher, M.…
Inventory positioning refers to the selective location of various items in the product line in plant, regional, or field warehouses. Inventory positioning has a bearing on facility location decision, and…
Issues with currency conversion add complexity to the global sourcing process. The absence of fixed exchange rates can be a problem. Fluctuations in exchange rates can have a significant impact…
The process of determining the amount of capacity required to produce in the future. This process may be performed at an aggregate or product-line level (resource requirements planning), at the…