Module2 Flashcards
(11 cards)
What is competitive strategy?
Competitive strategy defines the set of customer needs a firm seeks to satisfy through its products and services.
Slide says C.S. entails: Product development strategy, Supply chain strategy and Marketing and sales strategy.
What is supply chain strategy?
Supply chain strategy determines:
- material purchasing
- supply
- production (Operations)
- distribution
What is strategic fit?
- consistency between customer priorities and supply chain capabilities.
- Competitive and supply chain strategies to have the same goals.
How is strategic fit achieved?
- Understanding supply and demand uncertainty (understanding customer needs)
- Understanding Supply Chain
- Aligning the supply chain with competitive strategy (achieving strategic fit)
Slide 18 important: fit / misfit of functional vs. innovative products with efficient vs. responsive supply chains.
What is implied demand uncertainty?
Implied demand uncertainty is the uncertainty for the supply chain based on customer needs and the demand it must handle.
I dont fully understand this in its current form
What is the relationship between supply chain responsiveness and efficiency?
Increasing responsiveness usually increases costs and lowers supply chain efficiency.
What are the characteristics of functional products?
Functional products have:
- low margins
- long life cycles
- low forecast error
What are the characteristics of innovative products?
Innovative products have:
- high margins
- short life cycles
- high forecast error
What is the supply and demand uncertainty spectrum?
It categorises products into:
- functional (predictable). e.x. tomato soup
- innovative (unpredictable). e.x. trendy purchases
based on supply and demand uncertainty.
What is the cost-responsiveness efficient frontier?
It represents the trade-off between supply chain efficiency and responsiveness.
stops at slide 16 and doesnt contain the rest?
maybe the pdf was too long for chagpt?
