Supply Chain Flashcards
(31 cards)
What is the essence of supply chain management?
Every organization must make a product or provide a service that someone values.
Most organizations function as part of larger supply chains.
Organizations must carefully manage their operations and supply chains in order to prosper and, indeed, survive.
What is operations management?
The planning, scheduling, and control of the activities that transform inputs into finished goods and services.
What is a supply chain?
A network of manufacturers and service providers that work together to create products or services needed by end users. These manufacturers and service providers are linked together through physical flows, information flows, and monetary flows.
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 upstream?
Activities or firms positioned earlier in the supply chain.
What is downstream?
Activities or firms positioned later in the supply chain.
What is a first-tier supplier?
A supplier that provides products or services directly to a firm.
What is a second-tier supplier?
A supplier that provides products or services to a firm’s first-tier supplier.
What is the SCOR Model?
Supply Chain Operations Reference Model
- Plan, Source, Make, Deliver
What is “Plan” from the SCOR Model?
Planning activities, which seek to balance demand requirements against resources and communicate these plans to the various participants.
What is “Source” from the SCOR Model?
Sourcing activities, which include identifying, developing, and contracting with suppliers and scheduling the delivery of incoming goods and services.
What is “Make” from the SCOR Model?
“Make,” or production, activities, which cover the actual production of a good or service.
What is “Deliver” from the SCOR Model?
Delivery activities, which include everything from entering customer orders and determining delivery dates to storing and moving goods to their final destination.
What are the return activities in the SCOR Model?
The activities necessary to return and process defective or excess products or materials.
What is logistics?
Transport and storage solutions.
- Part of the Supply chain
What are operations?
- Similar to Supply Chain
- Has a sense of immediacy (day-to-day)
- Often used in job titles (operations manager, operations director, …)
What is a mission statement?
A statement that explains why an organization exists. It describes what is important to the organization, called its core values, and identifies the organization’s domain.
What is a strategy?
A mechanism by which a business coordinates its decisions regarding structural and infrastructural elements.
What is a business strategy?
The strategy that identifies a firm’s targeted customers and sets time frames and performance objectives for the business.
What is a core competency?
An organizational strength or ability, developed over a long period, that customers find valuable and competitors find difficult or even impossible to copy.
What is a functional strategy?
A strategy that translates a business strategy into specific actions for functional areas such as marketing, human resources, and finance.
What are the structural decision categories?
- Capacity
- Facilities
- Services/Manufacturing, Warehouses, Distribution hubs
- Size, location, degree of specialization - Technology
- Services/Manufacturing processes, Material handling equipment, Transportation equipment, Information systems
What are infrastructural decision categories?
- Organization
- Structure, Control/reward systems, Workforce decisions - Sourcing decisions and purchasing process
- Sourcing strategies, Supplier selection, Supplier performance measurement - Planning and control
- Forecasting, Tactical planning, Inventory management, Production planning and control
What are the 3 primary objectives?
- Help management choose the right mix of structural and infrastructural elements based on a clear understanding of the performance dimensions valued by customers and the trade-offs involved.
- Ensure that the firm’s structural and infrastructural choices are strategically aligned with the firm’s business strategy.
- Support the development of core competencies in the firm’s operations and supply chains.
