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accounting > supply chain > Flashcards

supply chain Flashcards

1
Q

what is the scor model

A

supply chain operations reference
- plan
-source
-make
-deliver

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2
Q

4 variables of demand forecasting

A

-supply
-demand
-product characteristics
-competitive environment

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3
Q

what are the main forecasting methods?

A

straight line
moving average
weighted moving avg

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4
Q

straight line forecasting

A

assumes constant growth in the future

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5
Q

moving average (time series)

A

smoothing technique looking at past data to estimate future values

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6
Q

weighted moving average (time series)

A

assigns a predetermined weight to data points, greater weighting to more recent

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7
Q

what are the quantitative methods for demand forecasting?

A

expoential smoothing

regressn

simulation

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8
Q

what is exponential smoothing

A

smooth out time series data instead of weighting equally, weights decrease exponentially over time

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9
Q

what is regression forecasting

A

quantitative

based on the assumption that underlying factors influence what is being forecasted

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10
Q

what is simulation forecasting

A

quantitative

can be very sophistcated often used to compare different forecasting methods

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11
Q

what are the qualitative forecasting methods

A

executive judgement

sales force composite

market research/study

delphi method

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12
Q

executive judgment

A

expert opinions from different departments is averaged

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13
Q

sales force composite

A

forecast based on the opinions of sales people

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14
Q

market research

A

directly collecting information from consumers about purchases

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15
Q

delphi method

A

panels of experts individually questioned not as a group, effective fr long ranfe forecasting

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16
Q

cycle inentory

A

needed to meet demand between normally scheduled orderss

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17
Q

afety stock

A

necessary to compensate for demand uncertainty and order lead times

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18
Q

seasonal

A

Produced and stockpiled in anticipation of future demand

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19
Q

economic oder quantity (EOQ)

A

most cost-effective amount to purchase at a time

20
Q

reorder point

A

the level of inventory which triggers an action to replenish that stock item

21
Q

CFE

A

cumulative sum of forecast errors

referred to as bias, consideres both positive and negative errors

overall measure of forecast error

22
Q

mse

A

mean squared error

squares each period error.

positive and negative don’t cancel out

good indication of the average error per period

23
Q

mad

A

mean absolute deviation

takes absolute value of each error

easy to understand and good indication of forecast accuracy

24
Q

mape

A

mean absolute percent error

means for comparing different types of forecasting errors

turns errors into a percentage

commonly used to select most accurate forecasting technique

25
commodity markets
source of price basic rules materials: grains oil sugar natural resources suppliers may offer volume discounts from the list price
26
price lists
price source used for standardized products like gasoline and office supplies suppliers may offer volume discounts from the list price
27
price quotations
price source promotes competition amoung suppliers can be standard r specialty items often starts with an RFQ (request for quote)
28
ngotiations
price source useful in strategic alliance or long term relationships can be time consuming
29
Hierarchy of measurement approaches
Highest total value to the ultimate customer of the final firm in the supply chain: strategic Operational: Lowest total cost to the final firm in the entire supply chain Lowest landed cost Tactical: lowest base/unit cost
30
production tradoffs
1) Volume v. variety a. Economies of scale b. Economies of scope 2) Responsiveness vs. efficiency a. Centralized vs. decentralized (regional) facilities b. Large vs. small 3) Make vs. buy a. In house production b. Outsource 4) production cost vs. supply chain cost
31
purchase
largely transactional activiy facilitated by the placement and processing of a PO (purchase order)
32
procurement
o Range of processes related to an organization’s need to procure (buy) goods and services o Examples of activities, supplier selection, price negotiation, contract management
33
strategic sourcing
o Broader than procurement, align with organizational and supply chain goals and objectives; cross-disciplinary collaboration. o Focus on value, not cost; deeper supplier relationships; process improvement o Consolidate and leverage purchasing power
34
BATNA
o Best alternative to a negotiationed agreement o What is your plan B o Term coined by fisher and URY in getting to yes
35
creating a BATNA
1) Brainstorm a list of all available alternatives that might be considered should the negotiation fail to render a favorable agreement 2) Choose the most promising alternatives and expand them into practical and attainable alternatives 3) Identify the best o the alternatives and keep it in reverse as a fall back during the negotiation
36
Kraljic Purchasing Matrix
Bottleneck items - high supply risk, low potential to add value (profit impact) - low supplier control -innovation/product substitution/ replacement -production-based scarcity strategic items - high risk, high profit impact -development of long term relationships -collaboration and innovation -natural scarcity non-critical (routine) items -low rick, low profit impact -product standardization -process efficiency (automated purchasing, catalogs) -abundant supply leverage items -high profit impact, low risk -exploitation of full purchasing power -targeted pricing strategies/negotiations -abundant supply
37
lean manufacturing
philosophy of production that emphasizes the minimization of the amount of all the resources used in the various activities of the enterprise
38
7 types of waste
1) transportation 2)inventory 3-movement 4-waiting 5-overproduction 6-overprocessing 7-defects
39
negotiation strategies
competing - enjoy negotiation to win not realationally focused collaborating -enjoy solving though problems in creative ways committed to hte best solution for all involved compromising -seek to close the deal by closing the gap like to achieve closure as quickly as possible avoiding -defer and dodge confrontation accommodating -drive satisfaction from solving other peoples problems may weight a relationship more heavily than what they want out of a negotiation
40
planning horizon
long range 1+ years -product groups/families med range 6-8 months -end items short range day-weeks - components/subassemblies
41
capacity plan
o Resource requirements planning o Rough-cut capacity planning o Capacity requirements planning
42
materials planning
o Aggregate production planning o Master production scheduling (MPS) o Material requirements planning (MRP)
43
make to stock MTS
No customization, low cost of finished goods, immediate order fulfillment speed, low process complexity, commodities, toilet paper, canned soup, pharmaceuticals.
44
make to order
ato assemble to order bto build to order eto engineer to order
45
ato
* Limited customization, moderate cost of finished goods, days-weeks fulfillments speed, moderate process complexity, personal computers, automobiles
46
bto
* Moderate customization, high cost of finished goods, takes weeks-months to fulfill order, high order complexity, computer servers, private jets
47
eto
* Total customization, very high cost of finished good, months-years fulfillment speed, extreme order complexity, stadiums, jumbotron, nuclear power plants

accounting (4 decks)

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