Lesson 1 Flashcards

(31 cards)

1
Q

What is operations management

A

The planning, scheduling, and control of the activities that transform inputs into finished goods/services

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2
Q

What is supply chain management

A

The active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage

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3
Q

What is a supply chain

A

A network of manufacturers and service providers that work together to create products/services needed by end users

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4
Q

How are manufacturers and service providers linked

A

They are linked together through physical, information, and monetary flows

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5
Q

Upstream

A

Positioned earlier in supply chain

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6
Q

Downstream

A

Positioned later in supply chain

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7
Q

First-tier supplier

A

provides directly to firm

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8
Q

Second-tier supplier

A

provides to first-tier supplier

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9
Q

What does SCOR model stand for

A

Supply Chain Operations Reference model

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10
Q

What are the activities in the SCOR model

A

Planning activities, Sourcing activities, “Make” or production, Delivery activities, Return activities

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11
Q

Planning activities

A

seek to balance demand requirements against resources and communicate these plans to the various participants

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12
Q

Sourcing activities

A

include identifying, developing, and contracting with suppliers and scheduling the delivery of incoming goods/services

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13
Q

“Make” or production

A

activities which cover the actual production of a good/service

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14
Q

Delivery activities

A

everything from entering customers orders and determining delivery dates to storing and moving goods to their final destination

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15
Q

return activities

A

activities necessary to return and process defective/excess products/materials

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16
Q

Logistics

A

transport and storage solutions

17
Q

Operations

A

has a sense of immediacy (day-to-day)

18
Q

Strategy top-down model

A

Mission statement > Business strategy > Operations and supply chain strategies & Other functional strategies

19
Q

Mission statement

A

why an organization exists.
describes what is important to the organization, called core values, and identifies organization’s domain

20
Q

Strategy

A

mechanism by which a business cordinates its decisions regarding structural and infrastructural elements

21
Q

Business strategy

A

identifies a firm’s targeted customers and sets time frames and performance objectives for the business

22
Q

Core competency

A

an organizational strength or ability, developed over a long period, that customers find valuable and competitors find difficult/impossible to copy

23
Q

Functional strategy

A

translates business strategy into specific actions for functional areas.

24
Q

Structural decision categories

A

capacity, facilities, technology

25
Infrastructural decision categories
organization, sourcing, planning and control
26
Three primary objectives
- help management choose right mix of structural and infrastructural elements - ensure choices are aligned with business strategy - support development of core competencies
27
Four performance dimensions
Quality, time, flexibility, cost
28
Quality performance dimension
Performance quality, Conformance quality, Reliability quality
29
Time performance dimension
Delivery speed, Delivery reliability, Delivery window
30
Flexibility performance dimension
Mix flexibility, Changeover flexibility, Volume flexibility
31
Cost
Labor costs, Material costs, Engineering costs, Quality-related costs.