Operations m.ment / supply chain m.ment

Question 1

Define supply chain

Answer 1

All direct & indirect parties in procurement of product or raw material.

Question 2

Define operations management

Answer 2

Management systems / processes transferring resources into goods / serrvices.

Inputs - transformation process - outputs + measures (feedback) + corrections (controls).

Question 3

Ops mment controls degree of ‘value added’ in transformation process. Define ‘value added’.

Answer 3

Value of output price - cost of inputs.

Question 4

CA achieved through priorities supporting a given strategy. They are:

CQDFS

Answer 4

Cost
Quality
Delivery
Flexibility
Service

Question 5

Define supply chain mment (SCM)

Answer 5

The management of information flows within supply chain to maximise supply chain effectiveness & profitablility.

Question 6

5 components:

PSMDR

Answer 6

Plan - strategy & metrics
Source - suppliers, processes, metrics
Make - manufacturing, metrics
Deliver - logistics
Return - defects, support

Question 7

Factors that drive SCM

VCCS

Answer 7

Visibility - throughout the chain
Consumer behavour - can be modelled
Competition - Reduce inventory for CA, automate
Speed - modern IT = fast comms through chain