Logistics Mission 10

A company's merchandise, raw materials and products that haven't been sold yet.

• Inventory
• Assets
• Stockpile
• Products

Having the right material at the right time at the right place and in the exact amount

• Kaizan
• TQM
• Lean Manufacturing
• Just In Time (JIT)

The amount of time between when the customer orders the product and when it is delivered.

• Risk
• Production Time 
• Lead Time
• Wait time

This is predicting how much materials or product to produce based on current trends in the market.

• Procurement
• Forcasting
• Inventory management system
• Scheduling

Arranging jobs in priority and assigning machines and people to them

• Forcasting
• Procurment
• Scheduling
• Arraining

They select and create contracts with suppliers.  They make sure all supplies are available when needed.

• Forcasting
• Procurement
• Scheduling
• Warehouse Management System WMS

A type of software that helps companies calculate more accurate inventory levels.

• Word Processing
• Spreadsheet
• Warehouse Management System - WMS
• Inventory Specalist

Which of these does NOT affect lead time?

• Amount of supplier has on hand
• Seasonal Demand
• Customer Demand
• Packaging

This is a system in which a supplier sends items to a customer based on their agreement.

• Push
• Pull
• Push/Pull Hybrid
• Send off

Customers order inventory from the supplier as needed.  This makes for a longer lead time, however.

• Push
• Pull
• Push/Pull Hybrid
• Custom