Glossary 363

from day-to-day order placement and expediting, and therefore have the
time to do cost reduction, negotiation, supplier selection, alternate sourcing,
and the like. Syn: Vendor Scheduler, Planner/Buyer.
SUPPLIER SCHEDULING A purchasing approach which provides suppliers
with schedules rather than individual hard-copy purchase orders.
Normally a supplier scheduling process will include a business agreement
(contract) for each supplier, a daily or weekly schedule for each supplier
extending for some time into the future, and individuals called supplier
schedulers. Also required is a formal priority planning system that works
well, because it is essential in this arrangement to provide the suppliers
with consistently valid due dates. Some form of supplier scheduling is essential
for Just-in-Time purchasing. Syn: Vendor Scheduling.
SUPPLY CHAIN 1) The processes from the initial acquisition raw materials
to the ultimate consumption of the finished product linking across
supplier-user companies. 2) The functions inside and outside a company
that enable the value chain to make products and provide services to the
customer.
TIME FENCE A point in time where various restrictions or changes in operating
procedures take place. For example, changes to the master schedule
can be accomplished easily beyond the cumulative lead time; whereas,
changes inside the cumulative lead time become increasingly more difficult.
Time fences can be used to define these points.
TWO-LEVEL MASTER SCHEDULE A master scheduling approach for
make-to-order products where an end product type is master scheduled
along with selected key options, features, attachments, and common
parts.
VENDOR SCHEDULER See Supplier Scheduler.
VENDOR SCHEDULING See Supplier Scheduling.
WORK-IN-PROCESS Product in various stages of completion, including
raw material that has been released for initial processing and completely
processed material awaiting final inspection and acceptance as finished
product or shipment to a customer. Many accounting systems also include
semi-finished stock and components in this category.