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Quantitative Tools For Supply Chain S1 > Week 1 - Introduction To Supply Chain Planning > Flashcards

Week 1 - Introduction To Supply Chain Planning Flashcards

1
Q

What is a supply network?

A

Is the set of relationships between a firm and its suppliers and customers

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2
Q

What is a supply chain?

A

Is one of the series of linkages from suppliers to customers within the supply network

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3
Q

What is the main difference between upstream and downstream supply chain?

A

• Upstream are the different suppliers and are the input side
• downstream are the different customers are in the output side

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4
Q

Examples of upstream suppliers (3)

A

• Materials suppliers (Third tier supplier)
• Components suppliers (second tier supplier)
• Sub-assembly suppliers (first tier supplier)

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5
Q

Examples of downstream suppliers (3)

A

• Wholesalers (first tier customer)
• Retailers (Second tier customer)
• End users (Third tier customer)

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6
Q

What are the different parties involved in the supply chain? (6)

A

• Manufacturers
• Suppliers
• Transportation providers
• Warehouses
• Retailers
• Customers

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7
Q

What are the different supply chain functions involved in fulfilling customer requests? (5)

A

• Operations
• Marketing
• Design
• Finance
• Distribution

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8
Q

What is the supply chain management?

A

Is the management of the flow of materials and information through the supply network

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9
Q

Supply chain flows example

A
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10
Q

What is the objective of supply chains?

A

To maximise the difference between the value of the final product to the customer and the costs incurred by the entire supply chain in meeting customer requests

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11
Q

Formula for supply chain surplus

A

Supply chain surplus = Customer value (price) - supply chain cost

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12
Q

3 phases of supply chain

A

• Supply chain strategy/design
• Supply chain planning
• Supply chain operations

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13
Q

What happens in the supply chain strategy/design phase? (2)

A

• Design the long term structure of the SC
• Strategic as it involves major resources and decisions

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14
Q

What happens in the supply chain planning phase? (3)

A

• Focus on the medium term supply chain operations
• Operations are under the constraints of the design to maximise the supply chain surplus
• This stage attempts to take information such as demand forecasts and make decisions regarding which markets will be supplied from which locations

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15
Q

What happens in the supply chain operations phase? (2)

A

• Operate supply chain over short term making decisions regarding individual customer orders
• Decisions regarding allocating inventory or production to indivisible orders and setting delivery schedules

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16
Q

What 4 ways can supply chain problems be analysed?

A

• Timescale
• Processes
• Products
• People

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17
Q

What is the role of processes in supply chain? (2)

A

• Manufacturing and services consist of processes broken down into activities
• The interdependence between connected processes and the variability in demand on processes and process activation can be analysed using tools such as simulation

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18
Q

What is the role of products in supply chain? (2)

A

• Most plants make multiple products so to maximise profit it is useful to optimise the product mix
• LP can be used to determine product mix

19
Q

What is the role of people in supply chain? (2)

A

• Most plants have a workforce with a variety of skills with different availability (full-time, part-time, contracts)
• LP can be used to determine how we use the workforce

20
Q

What is the planning hierarchy?

A

Spans long-term strategic issues to short-term control issues

21
Q

What is the function at the strategy level of the planning and control hierarchy?

A

Is to establish a production environment capable of meeting overall goals

22
Q

What is the function at the tactical level in the planning and control hierarchy?

A

Is to generate a plan of action that will help the organisation prepare for upcoming demand

23
Q

What is the function at the control level in the planning and control hierarchy?

A

Is to control the real-time flow of material and people through the organisation

24
Q

What is a qualitative forecasting? (2)

A

• Uses the expertise of people to develop likely future scenarios
• An example is Delphi

25
Q

What is quantitative forecasting?

A

Methods are based on the assumption that the future can be predicted by using numerical measures of the past

26
Q

What are the two models of quantitative forecasting?

A

• Causal models
• Time series model

27
Q

What are causal models?

A

Predict a future parameter such as product demand from other parameters such as interest rates

28
Q

What are time series models?

A

Predict future parameters such as product demand as a function of past values of that parameter such as historical product demand

29
Q

What is capacity planning?

A

Involves making sure we have adequate capacity to fill forecast demand generated from marketing information

30
Q

What decisions are made in capacity planning? (2)

A

• Decide how much and what kind of equipment to purchase and supporting facilities
• Example decisions include: floorspace, power supplies, spare parts inventories

31
Q

What issues should be included with capacity planning? (3)

A

• Product lifetimes - how long will we make the product?
• Make-or-buy - should we be making a component it outsourcing its manufacturers to a supplier
• Pricing - we need to know revenue generated to make decisions about investments in equipment

32
Q

What is workforce planning? (2)

A

• Ensures that an organisation has an adequate workforce to meet demand
• Important to determine how much and what kind of labour is required

33
Q

What issues should be considered with workforce planning? (3)

A

• Worker availability - this must take account of breaks, holidays, training etc
• Workforce stability - it is not usually desirable to rapidly increase or decrease the workforce
• Workforce flexibility - are they cross-trained

34
Q

What is aggregate Planning? (2)

A

• Consists primarily of determining how much of each product to produce for each period, subject to constraints on capacity
• The planning horizon is generally a year or more which will need to be re run to represent the current situation

35
Q

What is tactical planning?

A

Use scheduling strategies to produce a feasible master production scheme

36
Q

What is demand management?

A

Customer orders cannot be replaced to the facility in the random order that they are received but they must be collected and grouped to maintain a fairly constant load on the factory

37
Q

Schedules in tactical planning

A

There’s a need to balance concern with the stability of the factory with the desire for dependable customer service and short competitive due date quotes

38
Q

What happens in the operations control function? (3)

A

• Will follow the schedule whenever possible but also makes adjustments where necessary
• Adjustments may be needed due to incidences such as equipment breakdown
• Adjustments may also be needed for jobs that are given special treatment

39
Q

3 basic choices in linear programming formulation

A

• Objective function
• Decision variables
• Constraints

40
Q

Objective functions in linear programming (2)

A

• Typically want to maximise profit or minimise cost
• Is specified in terms of decision variables

41
Q

Decision variables in linear programming (3)

A

These are quantities under control such as:
• Production quantities
• Number of workers
• Level of inventory

42
Q

Constraints in linear programming formulation

A

Are restrictions on choices of decision variables and occur due to limitations in demand and capacity

43
Q

How can linear programming provide sensitivity analysis regarding capacity and workforce constraints? (2)

A

• Can run a model without the constraint and a plan will be generated to produce less units/months of a product to achieve an increased profit
• Allows decisions to be made as to whether it was binding or does capacity need adjusting

44
Q

What information can linear programming provide on analysing decisions? (5)

A

• What is the product mix that maximises net profit (supply chain surplus)
• Where the capacity bottleneck for a particular product mix
• How many days we should operate to fulfil a contract
• What mix of workers should be hire to minimise labour cost?
• What floorspace in a warehouse should be allocated to each product to maximise profit

Quantitative Tools For Supply Chain S1 (9 decks)

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