The Association for Supply Chain Management (ASCM) has released the 20th edition of the ASCM Supply Chain Dictionary . It is the leading reference for supply chain terms and definitions, with more than 350,000 copies and downloads in circulation.
The new edition includes new and updated terms based on current industry trends, the APICS certification programs and feedback from the global supply chain community.
Why a shared understanding matters
In everyday life and at work, collaboration only succeeds when everyone means the same thing. When people understand terms differently, the result is misunderstandings, repeated questions and long discussions. That wastes time and, in the worst case, leads to wrong decisions.
This is especially true in the supply chain. Procurement, planning, production, logistics and sales work closely together, often across sites, countries and cultures. Terms such as lead time, safety stock or S&OP must mean the same in Frankfurt as they do in Shanghai or Chicago. A shared vocabulary is the basis for efficient communication and smooth global collaboration.
Free for ASCM members
ASCM members can access the dictionary free of charge in the Supply Chain Knowledge Center: learn.ascm.org
Essential for certification
For anyone preparing for the APICS CPIM, CSCP, CLTD or CTSC certifications, the dictionary is essential, since the exams use its standard terminology.
