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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

 

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For information on Inventory Turns, Fill Rate Measurement, Backorder Reporting or any other Supply Chain Metric, click on the links to the left. The text that appears on this website is the opinion of the webmaster. Metrics may or may not be uniform across all industries. All data listed here may be used as a general guide, but it's accuracy is not guaranteed. Please consult a qualified Supply Chain professional for more details on Supply Chain Measurements.  Other Supply Chain Websites
This site is owned and maintained by Michelle Taras & John Taras CPIM, PMP

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VendorManagedInventory.com -  information on Vendor Managed Inventory
InventoryTurns.com - additional information on how to calculate inventory turns or inventory turnover.
SupplyChainManagementNews.com - News stories about Supply Chain Management
SupplyChainDefinitions.com - various definitions of supply chain terms
SupplyChian.com - various supply chain info (yes, i know it's mis-spelled)
SupplyChainPurchasing - a new site Michelle is developing. All about Supply Chain Purchasing.

Inventory Definition - a basic overview of inventory terms.

other...
DangerousTricks.com - video's of people doing extreme stunts.
GermTherapy.com- a website that gives an overview of germ therapy...and cancer treatments.

VariousWebsites.com - a weekly review of what's hot on the internet.