Lecture 1 Flashcards
Operations Management
The planning and control of the activities that transform inputs into finished good
Supply Chain
A network of manufacturers and service providers that work together to create product or services
Upstream
Activities or firms positioned early in the supply chain
Downstream
Activities or firms positioned later in the supply chain
First-tier supplier
direct supplier to a firm
Second-tier supplier
Supplier to a first tier supplier
SCOR Model (definition and activities)
Supply Chain Operations Reference Model
Plan, source, make, deliver, return
Top Down model of strategy
Mission statement –> Business strategy–> Operations and supply chain strategies –> other functional strategies
Business strategy
The strategy that identifies a firms traget customers, time frames and performance objective
Core competency
An organizational strength that customers find valuable and competitors hard to copy
Functional strategy
A strategy that translates a business strategy into specific actions
Structural Decision Categories
Capacity, facility, technology
Infrastructural Decision Categories
Organization, sourcing, planning and control
Four performance dimensions
Quality: performance, conformance, reliability
Time: delivery speed and reliability
Flexibility: Mix, changeover, volume
Cost: labor, material, engineering, quality
