Lesson 1 Flashcards
(31 cards)
What is operations management
The planning, scheduling, and control of the activities that transform inputs into finished goods/services
What is supply chain management
The active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage
What is a supply chain
A network of manufacturers and service providers that work together to create products/services needed by end users
How are manufacturers and service providers linked
They are linked together through physical, information, and monetary flows
Upstream
Positioned earlier in supply chain
Downstream
Positioned later in supply chain
First-tier supplier
provides directly to firm
Second-tier supplier
provides to first-tier supplier
What does SCOR model stand for
Supply Chain Operations Reference model
What are the activities in the SCOR model
Planning activities, Sourcing activities, “Make” or production, Delivery activities, Return activities
Planning activities
seek to balance demand requirements against resources and communicate these plans to the various participants
Sourcing activities
include identifying, developing, and contracting with suppliers and scheduling the delivery of incoming goods/services
“Make” or production
activities which cover the actual production of a good/service
Delivery activities
everything from entering customers orders and determining delivery dates to storing and moving goods to their final destination
return activities
activities necessary to return and process defective/excess products/materials
Logistics
transport and storage solutions
Operations
has a sense of immediacy (day-to-day)
Strategy top-down model
Mission statement > Business strategy > Operations and supply chain strategies & Other functional strategies
Mission statement
why an organization exists.
describes what is important to the organization, called core values, and identifies organization’s domain
Strategy
mechanism by which a business cordinates its decisions regarding structural and infrastructural elements
Business strategy
identifies a firm’s targeted customers and sets time frames and performance objectives for the business
Core competency
an organizational strength or ability, developed over a long period, that customers find valuable and competitors find difficult/impossible to copy
Functional strategy
translates business strategy into specific actions for functional areas.
Structural decision categories
capacity, facilities, technology
