372 Quick Review

329 words - 2 pages

372 Quick Review Sheet

Videos

Toyota
• Lift trucks, number 1 in lift truck sales since 2002

Ships
• WWII, German U boats sunk more ships than could be produced
• Henry J Kaiser, not a sailor, worked on Hoover and San Fran Bay bridge
• Liberty Ships, 3 per day, fastest produced in 80 hours

Deming History
• W. Edwards Deming, statistician who worked for census bureau
• Created JIT, Deming circle
• Focused on quality control and that workers were important

Alaskan Pipeline
• Large influx of workers, 28000 at the peak
• Wages were good and living quarters ...view middle of the document...

tem
QR – Quick Response
ECR – Efficient Consumer Response
VICS – Voluntary Inter-Industry Communication Standards Committee
POS – point of sale
DRP (outbound) – Distribution Requirements Planning
SKUs – Stock-Keeping Units
STB – Surface Transportation Board
ICC – Interstate Commerce Commission

EOQ – Economic Order Quantity, Works best with single facility, always round up

EOQ = square root (2DP/CV)
P = Ordering Cost per order
D = Annual demand of product
C = Annual inventory carrying cost (as a % of product value)
V = value of inventory item
Reorder Point = Lead Time * Daily Demand, round daily demand up before *

3PLs – Thirds Party Logistics

- No corporate difficulties, saves money, doesn’t anger customers
- Good logistics = Service Benefits, Cost Minimization
- Inbound/Outbound = Materials Management/Physical distribution
- Outbound linked to customer service and marketing
- 1887: Act to Regulate Commerce, ICC created
- 1980: Staggers Act, deregulates rail
- 1980: Motor Carrier Act, deregulates trucking
- 1994: Trucking Industry Regulatory Reform Act, almost fully deregulates trucking
- 1995: ICC Termination Act, ICC abolished, STB created within DOT
- Customer Service = Time, dependability, communications, convenience
- Inventory Costs increase as customer service increases
- Ratio of inventory held to sales should decrease as sales increase

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