Product Suite

Supply Chain Glossary - V

Supply Chain Glossary - V

venture team

A set of individuals assigned outside normal channels to develop ideas for new products.

The relationship between a parent item and a component in its bill of material that defines the need for the component based on producing the parent, without regard to the availability of other components at the same level in the bill of material. See: horizontal dependency.

A method of displaying or printing output from an MRP system where requirements, scheduled receipts, projected balance, etc., are displayed vertically. Vertical displays are often used in conjunction with bucketless systems. Ant: horizontal display.

The degree to which a firm has decided to directly produce multiple value-adding stages from raw material to the sale of the product to the ultimate consumer. The more steps in the sequence, the greater the vertical integration. A manufacturer that decides to begin producing parts, components, and materials that it normally purchases is said to be backward integrated. Likewise, a manufacturer that decides to take over distribution and perhaps sale to the ultimate consumer is said to be forward integrated. See: backward integration, forward integration.

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