Flashcards
Operations Management-10
Cards in this deck (9)
- 1What is supply chain?A group of organisations that are linked via upstream and downstream connections through processed and services that produce value to the end customer, in the form of products and services.
- 2Explain the supply chain in 4 bullet points-Spans the organisation composition of a business to include networks through which goods and services, and even customers and employees reach the organisation
-Not determined by the physical location of an organisation. Globalisation has seen supply chains, and the very nature of businesses, change forever
-Often represent the largest financial outlay of a company
-Can be described as the gatekeeper to an organisation, as it determines the goods and services which enter the company and its operations, and those that do not - 3What is bullwhip?-Supply chain tendency to amplify relatively small changes in the demand side so the supply end of the chain sees a much greater disruption
-To avoid errors communicate quickly along whole supply chain
-Act on information quickly to achieve agility - 4What are the advantages of using supply chain?-Benefits associated with quality, cost and delivery
-Focus on developing core competencies
-Encourage innovation throughout the supply chain
-Maturity towards establishing performance measurement and management
-Enhanced customer satisfaction - 5What is supply chain management?-Management of the value creation processes across multiple relationships across organisational boundaries that enable companies to meet the needs of their customer
-Beyond suppliers and service partners to encompass further internal and external functions such as engineers and marketing department - 6List and compare short and long term suppliersShort term considerations include,
-Total cost
-Dependability of supply
-Quality of products or services
-Responsiveness
Longer term considerations include,
-Innovation potential
-Risk sharing
-Long-term commitment
-Technical capability - 7What are the issues of sourcing globally?-Cost saving by using low-cost country suppliers
-Costs of transportation
-Needs good transport infrastructures
-Cross-border taxes
-Supplier performance
-Supply chain risk
-Ethics - 8Give all three broad components of business models and explain-Value proposition: What value is provided and to whom? Including the product, customer segments and relationship
-Value creation and delivery: How is value provided? Including, activities, resources, distribution channels, partners and suppliers, technology and products features
-Value capture: How does the company make money and capture other forms of value? Including cost structure and revenue streams - 9Give examples on business models-Price Models: Buying club, one-stop, low price shopping, fee or advertising
-Convenience Models: One stop, convenient shopping, comprehensive offering, instant gratification
-Intermediary Models: Market aggregation, open market-making, multi-market aggregation
-Trust Models: Trusted operations, trusted product leadership, truster service leadership
-Innovation Models: Incomparable products, incomparable services, breakthrough markets
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- Engineering Flashcards on Operations Management-10, created by mukkun himitsu on 01/01/2018.
- Created by
- mukkun himitsu · Jan 2018
- Updated
- Jan 1, 2018
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