INTB 3354 Chapter 15: Global Operations + Supply Chain Management

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1

Outsourcing

Hiring other's to perform some of the noncore activities and decision making in a company's value chain, rather than having the company and and its employees continue to perform those activities

2

Supply chain management

The process of coordinating and integrating the flow of materials, information, finances, and services within and among companies in the value chain from the suppliers to the ultimate consumer

3

Offshoring

Relocating some or all of a business's activities or processes to a foreign location

4

Standards

Documented agreements containing technical specifications or other precise criteria that will be used consistently as guidelines, rules, or definitions of the characteristics of a product, process, or service

5

Manufacturing rationalization

Division of production among a number of production units, thus, enabling each to produce only a limited number of components for all of a firm's assembly plants

6

Backward vertical integration

Arrangement in which facilities are establishing to manufacture inputs used in the production of a firm's final products

7

Intermediate technology

Production methods between capital-and-labor intensive methods