Ever get confused by Acronyms? Everyday, more & more seem to be popping up.
Here are a few Supply Chain Acronyms:
ABC: Activity Based Costing
ABM: Activity Based Management
ANOVA: Analysis of Variance
AOQ: Average Outgoing Quality
APICS: American Production and Inventory Control Society
ASP: Application Service Provider
B2B: Business to Business
B2C: Business to Consumer
BB: Black Belt
BBC: Black Belt Champion (or Council)
BBS: Business Balanced Scorecard
BEST: Business Excellence through Speed and Teamwork
BOM: Bill of Materials
BTO: Built to Order
C&E: Cause & Effect
CAD: Computer Aided Design
CAM: Computer Aided Manufacturing
CPIM: Certified in Production and Inventory Management
CRM: Customer Relationship Management
CTQ: Critical to Quality
CTR: Cycle Time Reduction
DPMO: Defects Per Million Opportunities
DRP: Disribution Requirements Planning
DRP2: Distribution Resource Planning
DTF: Demand Time Fence
EDI: Electronic Data Interchange
EPR: Economic Profit Realize
FEFO: First Expired First Out
FG: Finished Goods
FGI: Finished Goods Inventory
FIFO: First In First Out
FPO: Firm Planned Orders
GAAP: Generally Accepted Accounting Principles
IFO: Income From Operations
ISO: International Standards Organization
IT: Information Technnology
JIT: Just in Time
KPI: Key Performance Indicator
LCL: Less than Carload
LIFO: Last In First Out
LSL: Lower Specification Limit
LTL: Less than Truckload
MAP: Manufacturing Automation Protocol
MBB: Master Black Belt
MBO: Management by Objective
MDS: Material Dominated Scheduling
MIS: Management Information Systems
MRP: Materials Requirements Planning
MSDS: Material Safety Data Sheet
MTBF: Mean Time Between Failures
MTO : Made to Order
NDC: National Distribution Center
NPV: Net Present Value
OEM: Original Equipment Manufacturer
PAC: Production Activity Control
PDCA: Plan Do Check Act
PPM: Parts Per Million
RDC: Regional Distribution Center
ROA: Return on Assets
ROI: Return on Investment
ROP: Re-Order Point
RPI: Raw Product Inventory (components)
SCOR: Supply Chain Operations Reference model
SD or STD: Standard Deviation
SMART: Specific/Measurable/Ambitious/Realizable/Time-Phased
SPC: Statistical Process Control
USL: Upper Specification Limit
VMI: Vendor Managed Inventory
WIP: Work In Process
