Supply chain

Supply chain

Of or referring to a system of organizations, people, technology, activities, information, and resources that develops a product from supplier to customer in an efficient manner.

Industry: Software

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Supply chain

Variance

Software; Supply chain

The difference between a standard or expected value and the actual result, and often characterised as favourable or unfavorable.

Labour efficiency variance

Software; Supply chain

The cost variance created by using more or less actual labour hours than the standard labour hours for a given amount of production, while assuming the actual pay rate equaled the standard pay rate.

Supply chain execution

Software; Supply chain

The set of supply chain activities that focus on fulfilment rather than planning- raw material delivery, manufacturing operations and shipments to customers and internal and external distribution ...

The factor used to measure usage of a defined activity. ex.- the materials support activity of a forklift driver retrieving goods from the warehouse could be driven either based on number of trips, ...

Electronic funds transfer (EFT)

Software; Supply chain

Electronic systems that transmit standardised financial data, payments and other transactions between connected parties and do not use paper documents to increment or decrement accounts.

Machine utilisation

Software; Supply chain

The measure of machine hours recorded against production vs. the hours available or scheduled for a given period.

Supplier rating

Software; Supply chain

A supplier evaluation based on quality, delivery performance, price, involvement in process improvement programmes and other parameters that often results in vendor classifications such as preferred, ...