2 Introduction to OSCM Flashcards
What does OSCM stand for?
Operations and supply chain management
Define OSCM.
The design, operation and improvement of the systems that create and deliver goods and services
Define operation and supply chain management separately.
Operations: Processes that use an organization’s resources to transform inputs into outputs
Supply chain management: Processes that moves information and material to and from the operations processes where the transformation occurs
What are the five functional areas of operations?
- Marketing
- OSCM
- Finance / Accounting
- Human Resources
- Information Systems
What did Toyota do to help the New York Charity?
Help overhaul the operations of a soup kitchen in Harlem and a food pantry, significantly improving their operations.
From a 90 to 18 min wait at the soup kitchen and 3 min to 11 sec per box at the food pantry.
What are the three parts of the triple bottom line?
- People / Social
- Planet / Enviormental
- Profit / Economic
What conflict minerals?
Minerals required for many electronics are sourced from the Congo which used to be run by military groups with violent territory wars and being extracted using slavery, this began to change with pressures for companies to see the practices of their suppliers
What functional area can affect are three parts of the triple bottom line?
Operations and supply chain management (OSCM)
What is the blockchain in OSCM?
The blockchain creates a transparent view of who a company’s suppliers are through a secured chain of transactions that create a network
What areas of OSCM that AI can revolutionize? (6)
- Data management
- Efficiency
- Reconfiguration
- Capacity and Demand forecasting
- Inventory management
- Reducing cost, and boosting safety
What is a new mode of transport that could revolutionize the supply chain and why?
The hyperloop and is 4x the speed of a bullet train drastically improving the speed of the supply chain
What are two things that Amazon has to do to try to improve there OSCM?
- Warehouse robots that move shelves taking up less space
- Testing out drone delivery for packages
What did Mckinsey believe the new priorities of OSCM to be? (3)
- Resilience
- Agility
- Sustainability
What are the strategies to overcome uncertainty in the supply chain and mitigate risk? (3)
- Near-shoring
- Dual sourcing
- Increased inventory
What did Henry Ford do to be more sustainable when building the Model T?
He insisted his suppliers used certain dimensions for the crates for shipping materials, he then broke the crates down and used them for the floors on the Model T
