Supply Chain Glossary – S Letter

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Description

  • Supply Chain Management (SCM): SCM encompasses the planning, execution, and control of all supply chain activities to optimize efficiency and customer satisfaction.
  • Strategic Sourcing: Strategic sourcing involves identifying and selecting suppliers to achieve cost savings, quality, and performance goals.
  • Safety Stock: Safety stock is extra inventory held to buffer against unexpected demand fluctuations or supply disruptions.
  • Sustainability Initiatives: Sustainability initiatives promote eco-friendly practices and reduce environmental impacts in operations and supply chains.
  • Supplier Relationship Management (SRM): SRM focuses on managing and improving relationships with suppliers to enhance collaboration and performance.
  • Six Sigma: Six Sigma is a methodology for improving processes and reducing defects by minimizing variation and improving quality.
  • Sales and Operations Planning (S&OP): S&OP aligns sales and production plans to ensure demand and supply balance.
  • Supply Chain Visibility: Supply chain visibility provides real-time insight into the status and movement of goods in the supply chain.
  • Sustainable Procurement: Sustainable procurement considers environmental and social factors when selecting suppliers and products.
  • Synchronous Manufacturing: Synchronous manufacturing optimizes production processes to reduce lead times and improve efficiency.
  • Stock Keeping Unit (SKU): An SKU is a unique code assigned to each product variant to track inventory and sales.
  • Supplier Auditing: Supplier auditing assesses supplier performance and compliance with quality and contract requirements.
  • Service Level Agreement (SLA): An SLA defines the terms, responsibilities, and performance expectations in supplier contracts.
  • Supply Chain Analytics: Supply chain analytics uses data analysis to improve supply chain decision-making and performance.
  • Supplier Collaboration: Supplier collaboration involves working closely with suppliers to drive innovation and mutual benefit.
  • Statistical Process Control (SPC): SPC uses statistical methods to monitor and control processes, ensuring they meet quality standards.
  • Strategic Inventory Management: Strategic inventory management optimizes inventory levels to balance cost and service levels.
  • Single Sourcing: Single sourcing relies on a single supplier for a specific product or component, reducing complexity and costs.
  • Smart Manufacturing: Smart manufacturing integrates technology, data, and automation to enhance manufacturing processes and efficiency.
  • Safety Culture: Safety culture prioritizes a safe working environment and encourages safe behaviors among employees.
  • Supplier Performance Metrics: Supplier performance metrics measure supplier quality, delivery, and overall performance.
  • Supply Chain Optimization: Supply chain optimization seeks to maximize efficiency and reduce costs across the entire supply chain network.
  • Sequential Manufacturing: Sequential manufacturing organizes production processes in a linear, step-by-step fashion.
  • Supplier Qualification: Supplier qualification assesses suppliers’ capabilities and compliance with quality and regulatory standards.
  • Supply Chain Resilience: Supply chain resilience is the ability to withstand and recover from disruptions or crises.
  • Stockout: A stockout occurs when a product is temporarily unavailable due to insufficient inventory.
  • Strategic Capacity Planning: Strategic capacity planning ensures that facilities and resources align with long-term production needs.
  • Supplier Diversity: Supplier diversity promotes sourcing from a variety of suppliers, including minority-owned and small businesses.
  • Supply Chain Integration: Supply chain integration connects various supply chain partners and processes for seamless coordination.
  • Supplier Risk Management: Supplier risk management identifies and mitigates risks associated with supplier relationships.
  • Supply Chain Network Design: Supply chain network design optimizes the configuration of distribution centers and transportation routes.