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Winter Final LIA Vocabulary 1

AB
Agile supply ChainFocuses on an organization's ability to respond to changes in demand with respect to volume and variety.
Deregulationreduction of economic regulation in the U.S. airfreight, railroad, and trucking industries allowing individual carriers flexibility in pricing and service.
Power RetailerRetailers that are characterized by large arket share and low prices
Cost Trade-offsChanges to one logistics activity cause some costs to increase and others to decrease
Inbound LogisticsThe movement and storage of materials into a firm.
Radio-frequency identification (RFID)The use of radio frequency to identify objects that have been implanted with an RFID tag
InformationA body of facts in a format suitable for decision making.
LogisticsThe part of the supply chain that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services and related information between the point of origin and the point of consumption.
Perfect OrdersAn order that simultaneously achieves relevant customer metrics.
Supply Chain Managementit encompasses the planning and management of all activities involved in sourcing and procurement, conversion and all logistics management activities.


Business Educator
Tri-County High School
Wolcott, IN

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