Quiz 3 Flashcards
Aligned
when everybody know their role and working together to reach their goal; which is getting the supply to the customer.
Integrated
a shared-process view of the supply chain that spans multiple departments, processes and software applications for internal and external users.
Trans-Pacific Partnership Agreement (“TPP”) and it’s Goals
is a free trade agreement currently being negotiated by nine countries: The United States, Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam.
• Goals: Comprehensive market access by eliminating or reducing tariff and non-tariff barriers across substantially all trade in goods and services and covers the full spectrum of trade. Regional approach to commitments through the development of production and supply chains, and seamless trade, enhancing efficiency .Addressing new trade challenges. Inclusive trade. Platform for regional integration.
NAFTA
North American Free Trade Agreement (NAFTA): [1994] among the U.S., Canada, & Mexico.
World Trade Organization (WTO)
successor to the General Agreement on Tariffs/Trade (GATT). Functions include: Administering agreements, Forum for trade negotiations, Trade disputes, Monitor trade policies, Aid for Developing countries, International organizations. Textiles, food, etc.
Queue management
a demand management strategy that is used to deal with excess customers. Consumer aware, doing that efficiently by providing either by single server or by multiple servers who act in series or in parallel. Key issues are becoming consumer aware and doing the goal efficiently.
Chase Strategy
one of the two ways to of dealing with service capacity demands.
• Chase-demand strategy- Capacity varies with demand. So you can handle fluctuations but must take appropriate actions prior. You keep the same staff and just try to work through it implementing a strategy. This technique does work in a Hospital Emergency Room.
Benchmarking
the practice of copying what other businesses do best; studying how things are done well in other firms to potentially make use of the same methods. Basically look at the top performers in your field and measure it against self-strengths and weaknesses, an internal analysis.
Supply Chain Risk
multinational risk where companies look at their suppliers and manage the risk. To manage supply chain risk you would access suppliers financial strengths (include in qualification/selection process + periodic reviews closer reviews of “at risk” suppliers. This will help you develop a formal risk management program. Either you decide to find back up suppliers just in case something happens or you decide to build up you only suppliers to ensure that your suppliers are steady and can with stand most risk. Risk include Financial and Disruption (Natural events, or manmade events, factory shutdowns, truck wreck, etc.), as well as many other things.
SCM department Diagnostic assessment
an internal evaluation tool. You use it to access how well the supply chain division of a company is doing. You talk to all departments about how well the SCM is doing. How it effects all departments. In order to evaluate SCM they must consider what other department think of them. Not all companies use this.
Balanced Scorecard what is it and what critical
A management system developed in the early 1990s by Robert Kaplan and David Norton that helps companies to continually refine their vision and strategy. The balanced scorecard uses a set of measures to provide feedback on internal business performance in order to continually improve strategic performance. Something that everyone needs to look at its suppliers and measure how well the company is doing by evaluating many different categories.
Dashboard
what is it and how is it used - Web-based software applications used to design scorecards, which also link via the Web to a firm’s enterprise software system. Provide managers a way to see real-time progress toward organizational milestones & help to ensure that decisions remain in sync with the firm’s overall strategies. Vital Few- Think of the instrument panel of your car or an airplane. KEY indicators to make sure you are on track. Is measured using 5 requirements.
Weighting
why is it important- is important because it tells the order of thing and why somethings are more important than others.
Key things to consider in Location Strategy
Make it easy for your customer to find your store. Once they arrive, make it easy to find what they want to buy or what you want them to consider buying. Drop off / pick up your clothes at dry cleaners on the way to work. Remember more than one thing goes into picking a location; finical, geo-positions , culture, customer preferences.
Niche
Focus / Niche Strategy- serve a narrow niche better than other firms Example: Grocery shopping for you, Mechanic specializing in Volvo or Porsche repair, and Custom stereo in your house or car.
