Org Mgmt Chapter 15: Supply Chain Management
What are the 8 operational responsibilities of supply chain management
-scheduling -receiving and shipping -inventory control -production/assembly (transformation) -quality control -information sharing -order fulfillment -reverse logistics
What are the 3 elements of managing supplier relationships in procurement management
-supplier audits -supplier certification -supplier partnerships
What are the 7 trends that are impacting strategic responsibilities of supply chain management
1. Alignment of functional strategies for supply chain with organizational strategies Configuration of facilities and networks for upstream and downstream supply chains 2. Product & Service Design 3. Capacity Planning 4. Distribution Strategy 5. Minimizing/Reducing Uncertainty and Risk 6. Technology Integration 7. Strategic Partnerships
What are 6 tactical responiblites of supply chain management
1. Forecasting 2. Operations Planning 3. Inventory Management 4. Sourcing (Procurement) 5. Transportation Planning 6. Collaboration
What are 5 issues associated with strategic responsibilities of supply chain management
1. Managing Internal & External Risk 2. Determining Appropriate Levels of Outsourcing 3. Managing Customer & Supplier Relationships 4. Measuring & Managing Return on Investment in Facilities and Activities for Supply Chain 5. Evaluating & Integrating New Technologies into the Supply Chain and its Management
5 steps in the purchasing cycle
1. Purchasing receives the requisition = who requesting the purchase 2. Purchasing selects a supplier = the purchasing department must identify suppliers who have the capability of supplying the desired goods 3. purchasing places the order with a vendor 4. monitoring orders 5. receiving orders
What are some of the 3 potential benefits using third party logistics
1. Specialist knowledge 2. well-developed info system 3.their ability to obtain more favorable shipping rates
What are the 8 strategic responsibilities of supply chain management
1. Supply chain strategy alignment = aligning supply & distribution strategies w/ organizational strategy & deciding on the degree to which outsourcing will be employed 2. Network configuration = determining the number & location of suppliers, warehouse, and production facilities and distribution centers 3. Info technology = integrating systems & processes throughout the supply chain to share info, including forecasts, inventory status, tracking shipments 4. Products & services = making decision on new product & services selection & design 5. Capacity planning = assessing long term capacity needs, including when and how much will be needed and the degree of flexibility to incorporate 6. Strategic partnership = partnership choices, level of partnering & degree of formality 7. Distribution strategy = deciding whether to use centralized or decentralized distribution, and deciding whether to use the organization own facilities and equipment for distribution 8. Uncertainty & risk reduction = identifying potential sources of risk and deciding the amount of risk that is acceptable e
What are the 5 issues that arise in the tactical management of global supply chains
1.impact of global supply chain on inventory and transportation costs and lead times 2.impact of currency fluctuation on procurement and transportation costs 3.actual or potential impact on global supply chains of political or economic instability 4. impact of differences in language and culture 5.importance of trust among supply chain partners
What is a supply chain?
A sequence of organizations- their facilities, functions, and activities that are involved in producing and delivering a product or service -begins with suppliers of raw material & extends to the final customers
In relation to reverse logistics management, explain the following: Gatekeeping & Avoidance
Gatekeeping = Screening returned goods to prevent incorrect acceptance of goods. Avoidance = Finding ways to minimize the number of items that are returned.
In terms of tactical responsibilities of supply chain management. What is inventory velocity & Bullwhip effect
Inventory velocity = the speed at which goods move through a supply chain Bullwhip effect = inventory oscillations become progressively larger looking backward through the supply chain
In relation to supply chains. Define upstream, downstream, and tiers
Participating businesses are seen as being either upstream or downstream in the chain, upstream = suppliers downstream = customers
Reverse logisitics management
The return of goods from customers
What is supply chain management
The strategic coordination of the supply chain for the purpose of integrating supply and demand management
What is VMI
Vendor managed inventory = vendors monitor good and replenish retail inventories when supplies are low
Order fulfillment management
a key process in managing the supply chain.1 Filling customers' orders efficiently and effectively is a crucial step in providing good customer service.
In relation to a value chain, what is a supply chain
connect suppliers, producers and final customers in a network that is essential to the creation and delivery of goods and services
In relation to order fulfillment management, define the following: Information velocity & fill rate
info velocity = The speed at which information is communicated in a supply chain. fill rate = The percentage of demand filled from stock on hand.
Logistic management
management of inbound/ outbound transportation, material handling, warehousing, inventory, order fulfillment and distribution
In OP , what is a value chain
the concept that value is added as goods & services progress through the chain
What is third party logistics
the outsourcing of logistics management
Procurement management
the practice of planning and directing the activities of purchasing agents who buy materials needed for the operations of a company or organization. Procurement management also involves oversight of the supplier evaluation and purchase negotiation process.
In relation to a value chain, what is a demand chain
the sales and distribution portion of the value chain
