mod 1 Flashcards
The supply chain spans from _______to ______
producer to consumer
. The basic goal of SCM is to balance _____with _____
supply and demand
What is a 1st tier supplier vs. 2nd tier?
Teir one is the the factory that is assembling the product and shipping it to the buyer for final sale
Teir two is the factory that is producing the base of the good and is buying from somewhere that produces raw materials.
. Identify 3 key areas of any organization and explain how each can positively impact the contribution to the bottom line.
The bottom line: business should focus on profit and prioritize plant, peeople and profit sustainability.
Operations management- increase efficiency decrease waste and increase profit, increase customer satisfaction
Marketing: expand market reach (profit), Enhance brand loyalty (people)
Human resource- improve employee productivity (people), reduce turnover costs (profit)
What does the transformation process in OM need to do?
The transformation process needs to out put goods that are quality and fit what the customers want
List 4 transformation processes and give an example of each.
Manufacturing- raw materials car
Healthcare- using medicine and equipment healthy patient
Information processing- bank processing customer transactions updating account information
Packaging company- adding labels and packaging to product it can be sold
List key characteristics of goods vs. services.
Goods: tangible, storable, separate production and consumption
Services: intangible, high customer interaction, inseparability, cannot transfer ownership
Estimate the current percent of the US workforce related to services. To manufacturing.
80% is employed in manufacturing where as 7% is employed in services
. Why is it important to learn about manufacturing
To better innovate, to gain a competitive advantage, to better understand the economic capabilities of a company
Compare SCM trends in the 1960’s to early 21st century.
In the 1960s there was a focus on production and not quality where as the 21st century there is a larger focus on quality to improve customer satisfaction
What is the triple bottom line?
People, planet, profit is what businesses need to prioritize
Of the UN’s 17 SDG’s, identify two that are: a. environmental, b. social, c. economic.
Environmental- 1) affordable and clean energy 2) clean water and sanitation
Social- 1) No poverty 2) gender equlity
Economic- 1) Economic growth 2) industry innovation
Describe mass customization.
When efficiency of production and customization of a product are prioritized
How does modular design work?
A design strategy that breaks down production into many parts so pieces can easily be changed or customized
Define robust design.
Designs that can withstand lots of conditions
