What is Operations and Supply Chain Management?Operations and Supply Chain Management (OSCM) is the design, operation, and improvement of the systems that create and deliver the firm’s primary products and services. OCSM is concerned with the management of the entire system that produces a product or delivers a service. Show
What are supply networks?For every product/service a supply network can be made. Think of a supply network as a pipeline through which material and information flow. Success in today’s global markets requires a business strategy that matches the preferences of customers with the realities imposed by complex supply networks. OperationsOperations refers to manufacturing and service processes that are used to transform the resources employed by a firm into products desired by customers. Supply ChainSupply Chain encompasses all activities and information associated with the flow and transformation of goods and services from the raw materials stage through to the end-user. From what do Operations and Supply Chain processes consist?A process is made up of one or multiple activities that transform inputs into outputs. Operations and Supply Chain processes can be categorized as follows:
What are the differences between goods and services?The are five essential differences between goods and services:
In which ways can a firm focus?Almost every product offered is a combination of goods and services. The Goods-Services Continuum demonstrates the focus of firms and spans firms that only produce products to firms that provide services only (pure products – core products – core services – pure services). What is Product-Service Bundling?Product-service bundling refers to when a firm builds service activities into its product offerings to create additional value for the customer. Efficiency, effectiveness and valueEfficiency is doing something at the lowest possible cost. How do you calculate efficiency?An interesting relation between OCSM functions and profit is the direct impact of a cost reduction in one of these functions on the profit margin. There are two ratios that relate to the productivity of labour employed by the firm: net income per employee and revenue (or sales) per employee. The receivables
turnover ratio measures the efficiency of a company in collecting its sales on credit: Another ratio is the inventory turnover, which measures the average number of times inventory is sold and replaced during the fiscal year. This ratio measures how efficient the company
turns its inventory into sales. The asset turnover ratio is the amount of sales generated for every dollar’s worth of assets. This measures how efficient a firm is using its assets in generating sales revenue. How has OCSM developed?The historical development of OCSM:
What are the issues global enterprises have to deal with nowadays?As operations and supply management is a dynamic field, a global enterprise challenges nowadays different issues:
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2. How do sustainable business strategies relate to operations and supply chain management?What is the connection between strategy and sustainability?Strategy describes how a firm creates and sustains value for its current shareholders. By adding sustainability, future generations are taken into account. Shareholders own one or multiple shares in the company. What is the Triple Bottom Line?The Triple Bottom Line captures an expanded spectrum of values by evaluating a firm against the following criteria:
What is Operations and Supply Chain Strategy?Operations and Supply Chain Strategy is the setting of broad policies and plans for using the firm’s resources optimally. This must be integrated with corporate strategy. Operations effectiveness is performing activities in a manner that best implements strategic priorities at minimum cost. How do you integrate a Operations and Supply Chain Strategy with a firm’s operations capabilities?If you want to integrate a Operations and Supply Chain Strategy with the operations capabilities of a firm, you must make decisions about the design of the process and infrastructure needed to support these processes. Process design is selecting the right technology, arranging the process over time, determining the role of inventory in the process and determining the location of the process. Infrastructure decisions involve the logic associated with the planning and control systems, quality assurance and control approaches, work payment structure and organization of the operations and supply functions. Operations capabilities is a portfolio best suited to adapting to the changing product and/or service needs of a firm’s customers. Which competitive dimensions form the competitive position of a firm?There are seven major competitive dimensions forming the competitive position of a firm:
When does a trade-off occur?Companies cannot be good in everything. A trade-off occurs when activities are incompatible so that more of one thing necessitates less of another (e.g. high quality is viewed as a trade-off to low cost). Straddling occurs when a company seeks to match the benefits of a successful position while maintaining its existing position. What is the difference between order winners and order qualifiers?An order winner is a specific marketing-orientated dimension that clearly differentiates a product from competing products. This dimension can be price, quality or reliability. An order qualifier is a dimension used to screen a product or service as a candidate for purchase, for example the battery life of a new computer. What are Activity-System Maps?All activities that make up a firm’s operation relate to one another. Activity-System Maps are diagrams that show how a company’s strategy is executed by a set of supporting activities. How can the risk associated with Operations and Supply Chain Strategies be assessed?The management of risk is crucial for OCSM. Supply chain risk is the likelihood of a disruption that would impact the ability of a company to continuously supply products or services. Supply chain disruptions are unplanned and unanticipated events that disrupt the normal flow of goods and materials within a supply chain. We can categorize risk along two dimensions:
How does the risk management process work?There are the three steps in the risk management process that can be applied to situations where disruptions are possible:
How can productivity be measured?Productivity is a measure of how well resources are used. The formula: Bulletpoints:
What is the diagram that shows how a company's strategy?A Strategy Map is a diagram that is used to describe the primary strategic goals that are important to an organization or business team.
What is the diagram that shows how a company's strategy is delivered by a set of supporting activities quizlet?Activity-system maps show how a company's strategy is delivered through a set of tailored activities. Activity-system maps depict the geographic reach of a company's business strategies. An operations strategy must resist change because of the long-term nature of equipment and personnel investments.
What is the term used to describe the set of activities through which a product or service is created and delivered to customers?Value Chain Model. the set of activities through which a product or service is created and delivered to customers. (
Which of the following concepts refers to a set of criteria that differentiates the products or services of one firm from another?Product differentiation is a process used by businesses to distinguish a product or service from other similar ones available in the market. This tactic aims to help businesses develop a competitive advantage and define compelling, unique selling propositions (USPs) that set their product apart from competitors.
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