Introduction To Supply Chain Management
What is globalization?
"The playing field has been leveled"
How does Supply Chain affect your life?
All activities that take place to get a product in your hands from raw material to final product
What is BRICS?
Brazil, Russia, India, China, South Africa Leading forces in changing the world's market place Rapid growth
What is in-sourcing?
Bringing an outside firm to do work within your comany
What types of jobs get outsourced?
Call Centers Manufacturing Writing Graphic Design IT Support Security
What are benefits of outsourcing?
Cost Increased Efficiency Focus on Core Area Save on Infrastructure and Technology Access to Skilled Resources Time Zones Faster and Better Service
What does Planning and Forecasting do?
Determines how much the company will need of a product bases on current trends and future predictions
What is another name for moving?
Distribution
What are the four factors driving change in the business world?
Globalization Technology Organizational Consolidation The Empowered Consumer
What are benefits of in-sourcing?
Greater Control Communication Flows Quality Best Practices
When and why did Supply Chain get popular?
In the 1990's by CEO's (Chief Executive Officers) and CFO's (Chief Financial Officers) who wanted to save money and make their company more efficent
Where is lots of outsourcing occurring?
India China
What is another name for Supply Chain?
Logistics
What are negatives of outsourcing?
Loss of Control Problems related to quality and turnaround time
What are the areas of Supply Chain?
Planning and Forecasting Purchasing Product Assembly Moving Storing Tracking Products
What is another name for Purchasing?
Procurement
How do companies track products?
Radio Frequency Identification Tags (RFID Tags)
How does terrorism affect supply chain?
Slows and halts spending Trade regulations Part/ product shortages
Why is transformation important?
So the business can survive and stay competitive
What are some challenges global supply chains face?
Supply and Demand (Food contamination and weather conditions) Terrorism (Huge impact on spending) Natural Disasters Product Life Cycles Lead Times Laws (Labor, Insurance, Special regulations)
What is Procurement?
The buying process
What is Production?
The make process (assembly and manufacturing)
What is Distribution?
The movement of products across the supply chain
What are the 7 Goals of Supply Chain?
The right product To the right customer At the right time At the right place In the right condition In the right quantity At the right cost
What is outsourcing?
When a companies employees are abroad
What is Storing?
Where the product will be placed until needed