Supply Chain Glossary – B Letter

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Description

  • Benchmarking: Benchmarking involves comparing an organization’s processes and performance to industry best practices to identify areas for improvement.
  • Bill of Materials (BOM): A BOM is a comprehensive list of components, materials, and sub-assemblies required to manufacture a product.
  • Batch Production: Batch production is a manufacturing process where products are produced in groups or batches, typically with similar characteristics.
  • Balanced Scorecard: The Balanced Scorecard is a strategic performance measurement framework that evaluates an organization’s success from multiple perspectives.
  • Buffer Inventory: Buffer inventory is a stock of goods maintained as a safety net to protect against fluctuations in demand or supply chain disruptions.
  • Bullwhip Effect: The bullwhip effect is the amplification of demand variability as it moves up the supply chain, leading to inefficiencies and increased costs.
  • Backhaul: Backhaul refers to the return journey of a vehicle, often carrying goods or materials on the way back to the point of origin.
  • Barcode: A barcode is a machine-readable representation of data, often used for tracking products in supply chain logistics.
  • Batch Size: Batch size refers to the quantity of products manufactured or ordered at one time, impacting production efficiency and inventory levels.
  • Break-Even Analysis: Break-even analysis determines the point at which revenues equal costs, helping to make informed business decisions.
  • Business Process Reengineering (BPR): BPR involves redesigning and optimizing business processes to achieve dramatic improvements in efficiency and effectiveness.
  • Buyer’s Market: A buyer’s market occurs when there are more goods or services available than there is demand, giving buyers negotiation power.
  • Back Order: A back order is an order for a product that is temporarily out of stock, with the intention to fulfill it when inventory is available.
  • Barcode Scanner: A barcode scanner is a device used to read and decode barcodes, facilitating efficient data capture in supply chain operations.
  • Benchmarking Partner: A benchmarking partner is an organization in a similar industry that is used as a reference for comparing performance metrics.
  • Batch Control: Batch control involves managing and regulating the production of items in a batch, ensuring consistency and quality.
  • Bill of Resources (BOR): A BOR is a detailed list of the resources, including materials, equipment, and labor, required for production.
  • Backward Integration: Backward integration involves a company acquiring suppliers in its supply chain to gain more control over the production process.
  • Batch Ticket: A batch ticket is a document that provides instructions and details for the production of a specific batch of products.
  • Balanced Inventory: Balanced inventory management aims to maintain the right level of stock to meet customer demand while minimizing excess inventory costs.
  • Batch Traceability: Batch traceability is the ability to track and trace the movement and history of a specific batch of products.
  • Barcode Label: A barcode label is a printed label containing a barcode and related information, used for product identification and tracking.
  • Backlog: A backlog is the accumulation of orders or work that have not yet been fulfilled, often requiring attention to catch up.
  • Business Continuity Plan (BCP): A BCP outlines procedures and strategies to ensure business operations continue in the event of disruptions or disasters.
  • Batch Release: Batch release is the process of approving and authorizing the release of a batch of products for distribution.
  • Bottleneck: A bottleneck is a point in a process where the flow of materials or information is slowed down, limiting overall productivity.
  • Blanket Order: A blanket order is a long-term purchase agreement that allows a buyer to order goods or services as needed within a specified period.
  • Buffer Stock: Buffer stock is a reserve of inventory kept to absorb fluctuations in demand or supply chain disturbances.
  • Batch Record: A batch record is a comprehensive document that records all activities and data related to the production of a specific batch of products.
  • Bid Analysis: Bid analysis involves evaluating proposals and bids from suppliers to determine the best value and fit for a particular project or purchase.