In commerce, supply-chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply-chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally."
SCM practice draws heavily from the areas of industrial engineering, systems engineering, operations management, logistics, procurement, information technology, and marketing and strives for an integrated approach. Marketing channels play an important role in supply-chain management. Current research in supply-chain management is concerned with topics related to sustainability and risk management, among others. Some suggest that the “people dimension” of SCM, ethical issues, internal integration, transparency/visibility, and human capital/talent management are topics that have, so far, been underrepresented on the research agenda.
TAT-9 was the 9th transatlantic telephone cable system, in operation from 1992 to 2004, operating at 560Mbits/sec between Europe and North America. It was built by an international consortium of co-owners and suppliers. Co-owners included AT&T Corporation, British Telecom and France Telecom.
A supply chain is a system of organizations, people, activities, information, and resources involved in
moving a product or service from supplier to customer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains.
Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion.
Business-to-business is a situation where one business makes a commercial transaction with another. This typically occurs when:
Supplier relationship management (SRM) is the discipline of strategically planning for, and managing, all interactions with third party organizations that supply goods and/or services to an organization in order to maximize the value of those interactions. In practice, SRM entails creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk of failure.
ISO/TS 16949 is an ISO technical specification aimed at the development of a quality management system that provides for continual improvement, emphasizing defect prevention and the reduction of variation and waste in the automotive industry supply chain. It is based on the ISO 9001 standard and the first edition was published in June 1999 as ISO/TS 16949:1999.
Corporate sourcing refers to a system where divisions of companies coordinate the procurement and distribution of materials, parts, equipment, and supplies for the organization. This is a supply chain, purchasing/procurement, and inventory function. This enables bulk discounting, auditing, and Sarbanes-Oxley compliance.
An online marketplace is a type of e-commerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process.
Build to order (BTO) and sometimes referred to as make to order or made to order (MTO), is a production approach where products are not built until a confirmed order for products is received. BTO is the oldest style of order fulfillment and is the most appropriate approach used for highly customized or low volume products.
Formula LGB Hyundai is a single seater, open wheel class of motorsport in India launched in 2006 by LGB with Hyundai the engine supplier. The cars are powered by 1.4 liter Indian built Hyundai Accent engines in the entry level JK Road Racing National Championship series. This car along with Formula LGB Swift can be considered as an Indian equivalent of Europe’s Formula Ford series, where it is void of aerodynamic aids like wings. This series is one of the starter formula series to enable karting drivers step into a formula car.
A purchasing card is a form of company charge card that allows goods and services to be procured without using a traditional purchasing process. In the UK, purchasing cards are usually referred to as procurement cards.
Dynamic Discounting describes a collection of methods in which payment terms can be established between a buyer and supplier to accelerate payment for goods or services in return for a reduced price or discount. Dynamic Discounting methods are used for business-to-business transactions when contractual or pre-established early payment terms may not exist or the payment date does not conform to agreed upon discount terms. Dynamic Discounting includes the ability to agree upon terms that vary the discount according to the date of early payment. The earlier the payment, the greater the discount. In addition, it includes an ability for either buyer or supplier to propose an early payment date and discount for a one-time payment using electronic mail or specialized software. Through the use of dynamic discounting methods, buying organizations can increase the number and size of early payment discounts they receive and suppliers can get paid sooner at a lower cost of capital than alternative options. A range of concepts is available to implement dynamic discounting into supply chain finance (SCF): dynamic discounting can be seen as a comparatively simple form, whereby the supplier grants a cash discount for early payment of its invoices – the amount of the reduction and the time of payment are quickly and freely negotiable.
A request for tenders (RFT) is a formal, structured invitation to suppliers to submit a bid to supply products or services. In the public sector an official fee is needed to fortify and secure the tender bid engagement/win documents, such a process may be required and determined in detail by law to ensure that such competition for the use of public funds is open, fair and free from bribery and nepotism. For example, a government may put a building project 'out to tender'; that is, publish an invitation for other parties to make a proposal for the building's construction, on the understanding that any competition for the relevant government contract must be conducted in response to the tender, no parties having the unfair advantage of separate, prior, closed-door negotiations for the contract. An evaluation team will go through the tenders and decide who will get the contract.
Royal warrants of appointment have been issued since the 15th century to those who supply goods or services to a royal court or certain royal personages. The warrant enables the supplier to advertise the fact that they supply to the royal family, so lending prestige to the brand and/or supplier. In the United Kingdom, grants are currently made by the three most senior members of the British royal family to companies or tradesmen who supply goods and services to individuals in the family.
Pay on production (PoP) is a special build-operate-transfer (BOT) model, where payment is made to a supplier by the original equipment manufacturer (OEM) per piece produced on the supplier’s own equipment by the OEM’s employees.
A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In an ordinary auction, buyers compete to obtain goods or services by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.
Market governance mechanisms (MGMs) are formal, or informal rules, that have been consciously designed to change the behaviour of various economic actors. This includes actors such as individuals, businesses, organisations and governments - who in turn encourage sustainable development.
EMIS Health, formerly known as Egton Medical Information Systems, supplies electronic patient record systems and software used in primary care in England. The company is based in Leeds. It claims that more than half of GP practices across the UK use EMIS software.
