Introduction - Chapter 1 Flashcards
(30 cards)
What is OSCM?
Stands for: operations and supply chain management
Includes the design, operation and improvement of the systems that create and deliver the firm’s primary products and services.
What is Operations?
Manufacturing & service processes used to transform resources into products
Where do operations exist?
In every department, making every manager an operations manager to some extent.
Specific Concepts about Operations:
More internal focused → products and services
Process, quality, manufacturing and planning
What is Supply Chain?
Move information and material to and from the firm.
Specific Concepts about Supply Chain:
More external focused → buyers and suppliers (across different organizations)
Procurement (sourcing) and logistics (delivery)
Efficiency
doing something at the lowest possible cost
Effectiveness
doing the right things to create the most value for the company.
Careers in OSCM
Specialize in managing the planning, production and distribution of goods and services.
Specific Starting Career Examples:
Supply chain coordinator
Procurement coordinator
Demand planner
Logistics/ Operations Associate
Global Operations Assistant
Specific Promoted Positions:
Chief Operating Officer (COO) → works with the CEO and president to determine the Company’s competitive operations strategy.
Chief Supply Chain Officer (CSCO)
What does the COO and the CSCO do?
determines the location, facilities, key vendors → once decisions are made → lower-level operations teams carry them out.
What are the Strategic IMPACTS of Operations?
Control costs and generate revenue
Ensures quality
Impacts Return on Investment
Provides a competitive advantage
What is a Business Process?
A set of end-to-end processes within an organization designed to achieve a specific goal.
What are the key components of a business process?
AS IS: Current process
TO BE: Proposed improved process
Designed with the end user in mind
Process Modeling Principles
What is the Strategic IMPORTANCE of Operations?
Reduce operational risk
Make effective investments
Build capabilities
Control costs
Increase revenues
What are the Key Process Management Factors?
- VOLUME: The quantity of products/services processed.
- VARIETY: The range of different products/services offered.
- VARIATION: Fluctuations in demand.
- VISIBILITY: The extent to which customers interact with or observe operations.
The 5 operations and supply chain processes:
Planning
Sourcing
Making/Producing
Delivering
Returning
What is Quality?
the attractiveness of the product, considering its features and durability
What are Order Qualifiers?
Basic product/service features required to compete in a market
What are Order Winners?
Unique features that differentiate a product/service and drive customer purchases
What is the Triple bottom line?
evaluating the firm against social, economic, and environmental criteria
What is Social Responsibility?
Ethical business practices toward employees, communities, and society
What is economic prosperity?
Ensuring profitability while meeting stakeholder expectations.
