Consumption Entry: An official Customs form used for declaration of reported goods, also showing the total duty due on such transaction. It would be great to include more detail in your story surrounding how you came to your idea. * Sort - get rid of clutter; separate out what is needed for the operations. CSCMP provides suggestions for helping companies do continuity planning in their Securing the Supply Chain research. Right now, and far into the future, it is my greatest interest to be part of a talented team like this one."24. Barter: The exchange of commodities or services for other commodities or services rather than the purchase of commodities or services with money. Public Warehousing: The storage of goods by a firm that offers storage service for a fee to the public. Negotiations: A set of discussions between two or more enterprises to determine the business relationship. Customs Invoice: A document that contains a declaration by the seller, the shipper, or the agent as to the value of the shipment. Message: The EDIFACT term for a transaction set. Order Cycle Time: The time that elapses from placement of order until receipt of order. Includes development and implementation costs. Two approaches to tactical planning exist for linking tactical plans to strategic plans - production planning and sales and operations planning. Calculation: [Average number of units in test and release]/[Average daily output in units]. Apart from that, I attend webinars related to payroll that improve my language skills while keeping me updated on important industry and regulatory changes." Regarding manufacturing orders, order management includes order release, routing, manufacture, monitoring, and receipt into stores or finished goods inventories. Note: Total Product Revenue excludes post-delivery revenues (maintenance and repair of equipment, system integrations), royalties, sales of other services, spare parts revenue, and rental/lease revenues. Supply Chain-Related Finance and Planning Cost Element: One of the elements comprising a company's total supply chain management costs. Principal warehouse activities include receipt of product, storage, shipment, and order picking. Letter of Credit (LOC): A method of payment for goods in which the buyer established his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation required, and a time limit for completion of the transaction. A third party supplier that receives EDI transmissions from sending trading partners and holds them in a mailbox until retrieved by the receiving partners. I have inputted, managed, audited, and streamlined the payroll process for up to 3,000 employees and have managed payroll runs upwards of $30,000. Total Average Inventory: Average normal use stock, plus average lead stock, plus safety stock. GTDI: European Guidelines for Trade Data Interchange. Subcontracting: Sending production work outside to another manufacturer. Also see: Demurrage, Express. Machine downtimes may occur during breakdowns, maintenance, changeovers, etc. Cash Conversion Cycle: 1) In retailing, the length of time between the sale of products and the cash payments for a company's resources. Gain Sharing: A method of incentive compensation where supply chain partners share collectively in savings from productivity improvements. EPC or ePC: Electronic Product Code. The interviewer wants assurance that you can manage their payroll volume so be sure to include a qualifying statement at the end of your response. Marks and Numbers: Marks and numbers placed on goods used to identify a shipment or parts of a shipment. Commodity Code: A code describing a commodity or a group of commodities pertaining to goods classification. Once I completed my accounting education, the same department store hired me to work in their payroll processing department. Interstate Commerce: The transportation of persons or property between states; in the course of the movement, the shipment crosses a state boundary. Your response should be straightforward and to the point. At first, we were using Paychex and calling in the hours each week. Bar Code Scanner: A device to read bar codes and communicate data to computer systems. Process benchmarking is usually conducted on firms outside of the organization's industry. Work in Process (WIP): Parts and subassemblies in the process of becoming completed finished goods. Carrier Liability: A common carrier is liable for all shipment loss, damage, and delay with the exception of that caused by act of God, act of a public enemy, act of a public authority, act of the shipper, and the goods' inherent nature. Synonym: World Wide Web. This should be based on your company's own cost of capital standards using the following formula. This content, combined with Internet technology, made the idea a milestone in the development and appearance of web sites, primarily due to the ability to display a lot of useful content and store one's preferred information on a secured server. Nationalization: Public ownership, financing, and operation of a business entity. Postponement: The delay of final activities (i.e., assembly, production, packaging, etc.) Virtual Factory: A changed transformation process most frequently found under the virtual corporation. Crane: A materials handling device that lifts heavy items. Police Powers: The United States' constitutionally granted right for the states to establish regulations to protect their citizens' health and welfare; truck weight; speed, length, and height laws are examples. Then, you describe the specific details of the paper you need: add the topic, write or paste the instructions, and attach files to … Consolidation: Combining two or more shipments in order to realize lower transportation rates. An emerging application, electronic commerce has been facilitated by developments in other areas in the mobile world, such as dual slot phones and other smarter terminals, and more standardized protocols which allow greater interactivity and therefore, more sophisticated service. Total Product Revenue: The total value of sales made to external customers plus the transfer price valuation of intra-company shipments, net of all discounts, coupons, allowances, and rebates. In response to the anonymous answer example, here is what Rachelle Enns said: It seems you are highly organized and keen on process, which is fabulous news for a payroll specialist :) You walk through this answer with ease, and your professionalism shines through.11. Production Line: A series of pieces of equipment dedicated to the manufacture of a specific number of products or families. Enterprise Resource Planning (ERP) System: A class of software for planning and managing enterprise-wide the resources needed to take customer orders, ship them, account for them, and replenish all needed goods according to customer orders and forecasts. i immediately mobilized a small team and disseminated duties amongst us; we worked overtime and weekends to be able to meet up, and we were able to deliver within 5 business days." Flexible Specialization: A strategy based on multi-use equipment, skilled workers, innovative senior management to accommodate the continuous change that occurs in the marketplace. Accuracy: In quality management, the degree of freedom from error or the degree of conformity to a standard. These reports can also be leveraged if the management team is presenting to the board or other stakeholders. Browse over 1800 categories of jobs including programming, web development, design, writing, data entry & more on Freelancer EFT: See Electronic Funds Transfer (EFT). Data Warehouse: A repository of data that has been specially prepared to support decision-making applications. Does not include hold or test and release times. The bullwhip effect can be eliminated by synchronizing the supply chain. Channel Partners: Members of a supply chain (i.e., suppliers, manufacturers, distributors, retailers, etc.) Returns Inventory Costs: The costs associated with managing inventory returned for any of the following reasons: repair, refurbish, excess, obsolescence, end of life, ecological conformance, and demonstration. It came from the creative idea of producing a web site which would contain many different "portal spots" (small boxes that looked like ads with links to different, yet related content). The chargeable weight may be the dimensional weight or, for container shipments, the gross weight of the shipment less the tare weight of the container. This array is then split into three classes called A, B, and C. The A group represents 10 to 20% by number of items, and 50 to 70% by projected dollar volume. The term "closed loop implies not only that each of these processes is included in the overall system, but also that feedback is provided by the execution processes so that the planning can be kept valid at all times.. Co-Destiny: The evolution of a supply chain from intra-organizational management to inter-organizational management. I will be sure to find solutions to any obstacles that I come across and I will ask questions of my more experienced co-workers or my supervisor, when appropriate." They then act as a shipper, tendering the containers to ocean common carriers. Warehouse Management - Finished goods, receiving and stocking, pick/pack. Logistics line functions include traffic management, inventory control, order processing, warehousing, and packaging. Warehouse Management System (WMS): The systems used in effectively managing warehouse business processes and direct warehouse activities, including receiving, putaway, picking, shipping, and inventory cycle counts. Multiple line items on a single order with different planned delivery dates constitute multiple orders, and multiple planned delivery dates on a single line item also constitute multiple orders. Calculation: [Number of orders filled from stock shipped within 24 hours or order release]/[Total number of stock orders] This answer is full of qualifying statements, which is a smart approach.29. Example #1: "I have been working in a payroll function for the past 20 years. Just in Time II (JIT II): Vendor-managed operations taking place within a customer's facility. I will also absorb the training I receive once hired. Cross Docking: A distribution system in which merchandise received at the warehouse or distribution center is not put away, but instead is readied for shipment to retail stores. The results are often used for continuous improvement programs to reduce throughput times, improve quality, and reduce cost. Manufacturing Execution - MES detailed and finite interval scheduling, process controls, and machine scheduling. Free Along Side (FAS): The seller agrees to deliver the goods to the dock alongside the overseas vessel that is to carry the shipment. General Order (GO): A customs term referring to a warehouse where merchandise not entered within five working days after the carrier's arrival is stored at the risk and expense of the importer. Transportation Planning: The process of defining an integrated supply chain transportation plan and maintaining the information which characterizes total supply chain transportation requirements, and the management of transporters, both inter- and intra- company. INCOTERMS: International terms of sale developed by the International Chamber of Commerce to define sellers' and buyers' responsibilities. Among the services they provide are transportation, warehousing, cross docking, inventory management, packaging, and freight forwarding. For example, a hub airport serves as the focal point for the origin and termination of long-distance flights where flights from outlying areas are fed into the hub airport for connecting flights. Output from these systems is integrated with financial reports, such as business plan, purchase commitment report, shipping budget, and inventory projections in dollars. Defective goods inventory (DGI): Those items that have been returned, have been delivered damaged and have a freight claim outstanding, or have been damaged in some way during warehouse handling. A member of a keiretsu generally owns a limited amount of stock in other member companies. Active Stock: Goods in active pick locations and ready for order filling. Usually, a distributor will demand a refund on material that goes bad (shelf life) or is no longer needed because of changing needs. The fixed costs are usually allocated to units of output on the basis of direct labor hours, machine hours, or material costs. Regarding customer orders, order management includes order promising, order entry, order pick, pack and ship, billing, and reconciliation of the customer account. Returns to Scale: A defining characteristic of B2B. This ratio measures how many times a company's inventory has been sold during a period of time. 3. Also, quality has two major components: The supplier reps, called "inplants," place orders to their own companies, relieving the customer's buyers from this task. Metrics dashboards/scorecards should be easy to read and usually have red, yellow, green indicators to flag when the company is not meeting its metrics targets. Inbound consolidation from vendors is called make-bulk consolidation; outbound consolidation to customers is called break-bulk consolidation. Statistical Process Control (SPC): A visual means of measuring and plotting process and product variation. Transit Time: The total time that elapses between a shipment's pickup and delivery. Manufacturing Planning - MRP, production scheduling, tracking, manufacturing engineering, manufacturing documentation management, inventory/obsolescence tracking. I have been with this employer for 10 years now, and they have provided me with so much opportunity. (2) The material and informational interchanges in the logistical process, stretching from acquisition of raw materials to delivery of finished products to the end user. Hazardous Goods: Articles or substances capable of posing a significant risk to health, safety, or property, and that ordinarily require special attention when transported. If you have experience in both small and large work environments, mention any key differences you recognize between small businesses and larger organizations. One company can have multiple vendor codes. If there's an increase in production sales value with no change in labor costs, productivity has increased while unit cost has decreased. Includes all applicable elements of the Level 2 component Inventory Carrying Cost of Total Supply Chain Management Cost. Results are used to adjust variables and maintain product quality. Example #2: "While completing my Payroll certification, I learned that a general ledger is the main accounting record for a company or organization. I ensured timely salary calculations, and no paycheck delays were caused. Includes all material that becomes obsolete while in a distribution channel. Cross Shipment: Material flow activity where materials are shipped to customers from a secondary shipping point rather than from a preferred shipping point. Delivery Appointment: The time agreed upon between two enterprises for goods or transportation equipment to arrive at a selected location. Bulk Cargo: Unpacked dry cargo such as grain, iron ore or coal. ISO: See International Standards Organization (ISO). If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Deadhead: The return of an empty transportation container to its point of origin. Plan-Do-Check-Action (PDCA): In quality management, a four-step process for quality improvement. Gross National Product (GNP): A measure of a nation's output; the total value of all final goods and services a nation produces during a time period. Example #1: "While working at Company ABC, the Payroll Director asked us to look for opportunities to cut costs associated with running payroll. Your response should be straightforward and to the point. Contribution: The difference between sales price and various costs. Lading: The cargo carried in a transportation vehicle. All vendors, service providers, and customers are links in the supply chain. If you are new to your career, think of a problem you faced in school, a team sport, or a volunteer activity. Delivery measurements are based on the date a complete order is shipped or the ship-to date of a complete order. ECR: See Efficient Consumer Response (ECR). Example #1: "While working for Company ABC as a Payroll Assistant, I realized that the timesheets were not populating correctly, and this was resulting in a problem with the calculations of the working hours for the employees. Double Bottoms: A motor carrier operation that involves one tractor pulling two trailers. Order information in this channel may be transmitted by electronic means. Fences go back up around Capitol building ahead of 'Justice for J6' rally, Apprehensions at the southern border surpass 200,000 in August, Trump aftershocks still felt in both parties: The Note, Biden has 'great confidence' in Milley after secret actions in Trump's final months, New Pfizer data makes case for booster shots 6 months after primary doses, Positive results on handling pandemic, Dem turnout advantage help Newsom retain seat, Mandates and math carry lessons from California: The Note, Milley secretly assured China Trump wouldn't attack to stay in office, book claims, ANALYSIS: Newsom romps based on twin fears of COVID-19 and Trump, Gov. Interline: Two or more motor carriers working together to haul a shipment to a destination. 5) Value-based quality is the degree of excellence to an acceptable price. Shipping Manifest: A document that lists the pieces in a shipment. Data for the total U.S. and Census regions begin in 1972. The sales plan is a necessary input to the production planning process (or sales and operations planning process). When any one of the items triggers an order by reaching the must-order point, all items below their can-order point are also ordered. Then, I met with vendors and received quotes. International Standards Organization (ISO): An organization within the United Nations to which all national and other standard-setting bodies (should) defer. If the situation occurs regularly, I will work directly with the involved individuals to train them on the current inputs so that their situation does not continue to occur." Bulk Area: A storage area for large items which at a minimum are most efficiently handled by the palletload. Order Entry and Maintenance: This includes costs associated with maintaining the customer database, credit check, accepting new orders, and adding them to the order system, as well as later order modifications. The focus is on driving out limited value cost while protecting profit margins. It is an essential financial tool for a business and a Payroll Specialist."16. Click on the order now tab. Upsell: The practice of attempting to sell a higher-value product to the customer. As always, things will come up that my team and I address, such as payroll inquiries from business leaders or employee compensation questions. ATFI: Automated Tariff Filing Information System. After-Sale Service: Services provided to the customer after products have been delivered. A list of financial and operational measurements used to evaluate organizational or supply chain performance. Continuous Process Improvement (CPI): A never-ending effort to expose and eliminate root causes of problems; small-step improvement as opposed to big-step improvement. In essence, supply chain management integrates supply and demand management within and across companies. Used to determine cash requirements on an on-going basis. Although fixed overhead is necessary to produce the product, it cannot be directly traced to the final product. Plan/Source/Make/Deliver - Interfaces, gateways, and data repositories created and maintained to exchange supply chain-related information with the outside world. Studying and monitoring of activities are typically seen as being concerned and results in improved productivity. Products may be returned because of performance problems or simply because the customer doesn't like the product. Export License: A document secured from a government authorizing an exporter to export a specific quantity of a controlled commodity to a certain country. Commuter: An exempt for-hire air carrier that publishes a time schedule on specific routes; a special type of air taxi. DISA: *See Data Interchange Standards Association (DISA). Not difficult to produce. In attributes sampling, the presence or absence of a characteristic is noted in each of the units inspected. 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