Exam 1 Flashcards
(63 cards)
A network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user
Supply Chain
Types of flows that move up and down the supply chain
Information, physical, monetary
Inputs to the operations function can be ____
Tangible and intangible
Core Competency
Organizational strengths or abilities, developed over a long time period, that customers find valuable and competitors find difficult or even impossible to copy.
Order Qualifier
Performance dimensions for which customers expect a minimum level of performance, but do not provide a competitive advantage.
Conformance Quality
Whether the product was made or service performed to specifications.
Project
A temporary endeavor undertaken to create a unique product, service, or result.
Project Management
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Gantt Chart
A graphical tool used to show expected start and end times for project activities and to track actual progress against these time targets.
Rated Capacity
The long-term, expected output capability of a resource or system.
Lead Strategy
A capacity strategy in which capacity is added in anticipation of (before) demand.
Lag Strategy
A capacity strategy in which capacity is added after demand.
Indifference Point
The output level at which two capacity alternatives generate equal cost.
Decision tree analysis
Can be used to compare capacity alternatives based on the expected value of each alternative.
Theory of Constraints
An approach to visualizing and managing capacity that recognizes that nearly all products and services are created through a series of linked process, and in every case, there is at least one process step that limits throughput for the entire chain.
Operations Management
The planning, scheduling, and control of
the activities that transform inputs into finished goods and services.
Supply Chain
A network of manufacturers & service providers that work together to create products or services needed by end users. These manufacturers are linked together through physical flows
information flows and monetary flows.
Supply Chain Management
The active management of supply
chain activities and relationships in order to maximize customer value
and achieve a sustainable competitive advantage.
Upstream
activities or firms positioned earlier in the supply chain
Downstream
activities or firms positioned later in the supply chain
First tier supplier
provides products/services directly to a firm
Second tier supplier
Provides products/services to first-tier supplies
Strategy
Mechanism that helps an organization make decisions
Functional strategy
specific strategy to each department
