Operations Strategies Definitions

Question 1

Supply Chain Management

LOGISTICS

Answer 1

Managing the distribution, transportation, storage and material handling and packaging of goods

How - DTSM (Don’t Talk So Much - Distribution, Transportation, Storage, M_____)
- Storage and distribution centres warehouses and technology improving through the use of AWT

• Transportation

Question 2

SCM

E-Commerce

Answer 2

Buying and selling of goods via the internet

Hows
- E-Procurement (Buying stock online)
- Business selling to customers online

Question 3

SCM

Global Sourcing

Answer 3

The purchasing of inputs via international markets

Hows
- Globally source Raw Materials from low cost countries
- Global Web of suppliers

Question 4

Outsourcing

Answer 4

use of external providers (Onshore and Offshore) to perform business activities

Question 5

Inventory Management

JIT

Answer 5

Refers to inventory managment strategy where the exact amount of material inputs are received only as they are needed in the operations process

Question 6

FIFO

Answer 6

First in last out