Managing Supply Chains Flashcards
What is a supply chain?
Consists of a group of firms that are involved in all the various processes required to make a finished product
What does the supply chain start with?
Provider of raw materials
What does the chain end with?
With the firm that sells the finished product
Who are core workers?
Employees who are essential to a business
Who are peripheral workers?
Employees who aren’t essential to a business
What is outsourcing?
When businesses contract out some activities to other businesses instead doing it themselves
How does outsourcing benefit businesses?
Might be able to accept contracts which they would of turned down
What is 2 advantages of outsourcing?
Knowledge and Reduces costs
What is a disadvantage of outsourcing?
Don’t have control
What is mass-customisation?
Of producing to order
