4.5 Flexibility And Speed Of Response

Question 1

What are factors that affect choosing a supplier

Answer 1

Ethics/ sustainability
Proximity to materials
Proximity to business
Cost
Reliability
Quality
Lead time
Flexibility
Service level agreement

Question 2

How to improve speed of response and flexibility

Answer 2

Buffer stock
Delivery options
JIC
E-commerce
Flexible workforce
Tech to monitor distribution

Question 3

3 ways of managing supply to match demand

Answer 3

Outsourcing
Part time/temporary employees
Producing to order

Question 4

What is outsourcing

Answer 4

Getting a third party to carry out one of the business functions

Question 5

What is mass customisation

Answer 5

Using CAM to produce individually tailored output to customers on a large scale

Question 6

Pros of mass customisation

Answer 6

Increased operational flexibility
Eliminate intermediaries
Less waste
Stimulating work environment

Question 7

Cons of mass customisation

Answer 7

Requires CAM
Less scope for economic scale
More waste
Slower responses speed