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Supply Chain Terms

 

  • Supply Chain (or Value Chain) – all businesses and processes that are part of manufacturing a finished product from raw materials to end-user (typically consisting of an OEM, 1st tier suppliers, 2nd tier suppliers, and so on).
     
  • Value Chain Management – an improvement method that cuts down waste (non value-added activities) in a supply chain (reducing MCT) by applying Lean tools.
     
  • OEM (Original Equipment Manufacturer) – producer of the finished product, last manufacturer in the supply chain before the end-user.
     
  • 1st Tier Supplier – direct vendor of OEMs usually providing assembled parts or major components in the value chain of a product.
     
  • 2nd Tier Supplier – sub-supplier or vendor to the 1st Tier suppliers in the value chain of a product.
     
  • Manufacturing Critical Path Time (MCT) – the typical amount of calendar time from when a customer order is received through the critical path until the first, single piece of that order is delivered to the customer.
     
  • Logistics – systems and infrastructure which transport and deliver goods and supplies for the value chain of a particular product.


 

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