Lesson 1 Flashcards
What is operations management
The planning, scheduling, and control of the activities that transform inputs into finished goods/services
What is supply chain management
The active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage
What is a supply chain
A network of manufacturers and service providers that work together to create products/services needed by end users
How are manufacturers and service providers linked
They are linked together through physical, information, and monetary flows
Upstream
Positioned earlier in supply chain
Downstream
Positioned later in supply chain
First-tier supplier
provides directly to firm
Second-tier supplier
provides to first-tier supplier
What does SCOR model stand for
Supply Chain Operations Reference model
What are the activities in the SCOR model
Planning activities, Sourcing activities, “Make” or production, Delivery activities, Return activities
Planning activities
seek to balance demand requirements against resources and communicate these plans to the various participants
Sourcing activities
include identifying, developing, and contracting with suppliers and scheduling the delivery of incoming goods/services
“Make” or production
activities which cover the actual production of a good/service
Delivery activities
everything from entering customers orders and determining delivery dates to storing and moving goods to their final destination
return activities
activities necessary to return and process defective/excess products/materials
