1. Purchasing : Purchasing is the process of buying the goods and services that a business needs to operate. In the supply chain, a purchaser creates agreements with a company's suppliers.
Ex) Our purchasing department has made the decision to start buying more environmentally friendly materials.
2. Warehousing : Warehousing involves all of the functions related to the large scale storage of goods and materials. This includes receiving, indentifying, inspecting, storing, and retrieving the goods.
Ex) To reduce its warehousing costs, Rondo industries is moving its storage facilities to Oklahoma.
3. Inventory : A company's inventory is all the goods and materials that are held in stock. This includes not only materials needed to build products, but also finished products yet to be sold.
Ex) Every month we do an inventory count to find out how much stock of each part we have.
4. Material Management : MM deals with the movement and storage of physical items or products. A material manager is responsible for spare parts, quality control, and inventory management.
Ex) The material management team can reduce work stoppages by making sure the machines have spare parts.
5. Order fulfillment : Order fulfillment is the process of receiving, processing, and filling a customer's order.
Ex) Dell computers has an order fulfillment system that immediately transfers a customer's online order to the production area.
6. Quality Assurance : Making sure that materials, parts, and products are in good condition is quality assurance. Supply Chains must have good QA built in to reduce waste and improve processes.
Ex) Our QA team is responsible for a 15% drop in defective products.
7. Just-In-Time : JIT is a business strategy aimed at reducing inventory and associated costs. With JIT manufacturing, just enough materials are ordered and delivered when they are needed.
Ex) JIT manufacturing requires very good communication with suppliers.
8. ERP(Enterprise Resource Planning) : ERP is a system that integrates information from all the different parts of a business. ERP can make a company more efficient by giving everyone access to the same data at all times.
Ex) Our new ERP software has reduced condusion between our accounting and sales departments.
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