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An extreme change in the supply position upstream in a supply chain generated by a small change in demand downstream in the supply chain. Inventory can quickly move from being backordered to being excess. This is caused by the serial nature of communicating orders up the chain with the inherent transportation delays of moving product down the chain.
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Refrence: APICS word of the week
Authorization to receive goods, such as a blanket release, firm purchase order item, or supplier schedule. Open-to-receive represents near-term impact on inventory and is often monitored as a control technique in aggregate inventory management. The total of open-to-receive, other longer-term purchase commitments, and open-to-buy represents the material and services cash exposure of the company.
The time unit for which forecasts are prepared, such as week, month, or quarter.
Breakthrough planning. A Japanese strategic planning process in which a company develops up to four vision statements that indicate where the company should be in the next five years. Company goals and work plans are developed based on the vision statements. Periodic audits are then conducted to monitor progress.
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