(3, 2) - Supply Chain Performance and Skills Development Flashcards
What tools can be used to measure a suppliers or buyers performance? Why would you do this?
KPI’s or Service Level Agreements - they involve evaluating data and agreeing corrective actions and continuous improvement plans with suppliers during regular review meetings.
What is the SCOR (supply chain operations reference model)?
It provides a framework to compare key supply chain metrics across 6 management processes which are: Plan Source Make Deliver Return Enable
What must be considered when setting KPIs?
They should be set with key tier 1 suppliers. Objectives can be qualitative or quantitative or exist at different levels in the organisation (Organisational, Functional, Team, Individual). Objectives should be SMART. S - specific M - measurable A - achievable R - relevant T - time bound
What is a balanced scorecard?
Provides a more integrated approach to performance measurement. It measures performance in 4 areas critical to business success:
Financial perspective
Internal business process perspective
Customer and stakeholder perspective
Learning and innovation perspective
What is knowledge management?
The effective extraction, harnessing or creation of intellectual assets derived from individual or group knowledge. The information is retained, effectively retrieved and utilised.
What are risks surrounding knowledge management?
Knowledge can be: Forgotten Used by a competitor Corrupted Lost or overlooked Re-created or confused With an individual no longer working with you
What is meant by tacit knowledge and explicit knowledge in relation to a knowledge management strategy?
Tacit knowledge is ingrained, taken for granted and difficult to formalise and share. Individuals ‘just know’ how to do things.
Explicit knowledge is formal, systematic and clearly articulated. It can be shared by using tools such as procedures and product specifications.
Long term competitive advantage can be achieved through the continuous improvement of skills, knowledge, behaviours of all individuals in the supply chain. Authors John Gattorna and Richard Clarke identified 3 levels of skills, what are they?
Level 1 - Functional skills like demand and inventory management, sourcing, logistics and procurement planning etc.
Level 2 - Integration and collaboration skills like customer awareness, vision and techniques for optimisation, trust building etc.
Level 3 - Synchronisation and new business models including using platforms for collaboration; vision for new business models; entrepreneurship leadership skills etc.
What components must be considered when conducting a TNA (Training Needs Analysis)?
User analysis Content analysis Training suitability analysis Work analysis Context analysis Cost-benefit analysis
What methods are there for bridging a competence gap?
Training Coaching Mentoring Organisational learning Self-managed learning Experiential learning
What is Professor David Kolbs learning cycle model?
Concrete Experience (user experiences new knowledge) > Observation and Reflection (individual reflects on experience) > Conceptualisation (individual develops hypothesis) > Active Experimentation (individual tests it out) > Concrete Experience
What four main learning styles did David Kolbs learning style preferences?
Activist - enjoys new experiences
Reflector - looks at a situation from different perspectives
Theorist - adapts and integrates observations into logically sound theories
Pragmatist - keen to try things out and wants to apply concepts
Performance management is used to assess the knowledge of an individual. What 4 key elements should performance management include?
Preparation of performance agreement
Preparation of performance and development plans
Performance review and appraisal
Management of performance throughout the year
What information sources can a manager use to provide performance management to an individual?
Self-assessment Observation Peer assessment Customer feedback Performance data Future challenges
