- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
A company that is selected to have 100% of the business for a part although alternate suppliers are available. See: sole-source supplier.
A method whereby a purchased part is supplied by only one supplier. Traditional manufacturers usually have at least two suppliers for each component part they purchase to ensure continuity of supply and (more so) to foster price competition between the suppliers. A JIT manufacturer will frequently have only one supplier for a purchased part so that close relationships can be established with a smaller number of suppliers. These close relationships (and mutual interdependence) foster high quality, reliability, short lead times, and cooperative action. Ant: multisourcing. See: sole source.
The six-sigma approach is a set of concepts and practices that key on reducing variability in processes and reducing deficiencies in the product. Important elements are (1) Producing only 3.4 defects for every one million opportunities or operations; (2) Process improvement initiatives striving for six sigma-level performance. Six sigma is a business process that permits organizations to improve bottom-line performance, creating and monitoring business activities to reduce waste and resource requirements while increasing customer satisfaction.
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