Topic 3.4.5 - Making operational decisions to improve performance: managing inventory and supply chains Flashcards
1
Q
Ways and value of improving flexibility, speed of response and dependability
A
2
Q
Influences on the choice of suppliers
A
- cost
- quality
- reliability
- frequency
- flexibility
- payment terms
3
Q
The value of outsourcing
A
- access specialist suppliers with greater capabilities and higher costs
- reduce costs
- focus business on core activities
- flexible
4
Q
Drawbacks of outsourcing
A
- risk that outsourcing supplier will fail to meet quality standards
- potential loss of expertise
- no guarantee that costs will be lower
5
Q
How to manage supply to demand
A
- sales forecasting
- outsourcing
- temporary and part time workers
- producing to order
6
Q
Value of matching supply to demand
A
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