Chapter 12

Question 1

Operations

Answer 1

A set of actions that produce goods and services

Question 2

Determinants of Operations

Answer 2

1. The nature of your industry

2. The specific conditions of your business

Question 3

Four players in the Distribution Chain

Answer 3

1. The Manufacturer
2. The Wholesale
3. Retailer
4. Customer

Question 4

What are the three types of product chains?

Answer 4

1. Traditional (M-W-R-C)
2. Direct to Retailer(M-R-C)
3. Factor Direct (M/R-C; eg Amazon (R)- C

Question 5

Supply Chain Management

Answer 5

The management of getting raw materials, the process to make it into finish good, and the process of getting it to the customer

Question 6

Types of Inventory Control

Answer 6

Visual Controls

Software

Question 7

Safety Stock

Answer 7

The amount of Inventory or raw materials or work-in-progress that is kept to guarantee service levels

Question 8

Reorder point

Answer 8

The level at which materials need to be reordered

Question 9

Formula

Answer 9

Avg D per unit of lead time /Lead time

Question 10

Enterprise Resource Planning

Answer 10

The integrated management core of business processes such as hr, finance, supply chain, maintaining & procurement