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

A lot size model that attempts to balance the costs associated with placing individual orders with the costs of carrying inventory. Defined as the square root of: 2 X annual demand X ordering cost ...

Accounts payable

Software; Supply chain

A current liability; the financial obligation created by the receipt of items and services not yet paid for. Also used to refer to the department that matches vendor invoices to receipts, prioritises ...

Economies of scale

Software; Supply chain

Cost savings in production, purchasing or support functions realised by combining organisations and achieving higher volumes.

Lot tracking

Software; Supply chain

The process of tracking a given material lot up (into upper level items and customer/interplant orders) or down (into the lower level lots it consumed when produced, or the lot received from a ...

Projected life

Software; Supply chain

The estimated useful period of a resource or system, based on time, number of cycles, units processed, or other factors.

Value stream mapping

Software; Supply chain

A technique used in lean manufacturing that maps the flow of material and data, and associated time requirements. from initial supplier to end customer for a given business process. Used to define ...

Lot size

Software; Supply chain

The quantity of a planned or actual order for purchased or production items, calculated as a result of lot size rules that consider the reason for the order (to order or to stock) and the costs ...