BUS 370 Study Guide

BUS 370 Study Guide - BUS 370 Study Guide Ch 1 Operations...

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BUS 370 Study Guide Ch. 1 Operations Management: The planning, scheduling, and control of the activities that transform inputs into finished goods and services. Why Study supply chain? o Pervasiveness: Every organization must make a product or provide a service that someone values. Ex. Manufacturer, Retailer, University. o Interdependence: Most organizations function as a part of a larger supply chain. o Profitability & Survival: Organizations must carefully manage their operations and supply chain to prosper and survive. Differences between Manufacturing and Services o Manufacturing: TANGIBLE product (Autos, TVs, etc.) Focus on how the product is made, how they store it, and how they move it. o Services: INTANGIBLE product (Banking, consulting, legal, medical services) Focus on how much customer involvement, how much customization. Operations and Supply Chain activities and their cross-functional linkages: o Process Selection: Design and implement processes that meet the needs of the customers. o Forecasting: Developing the planning numbers needed for effective decision making. o Capacity Planning: Establish strategic and tactical capacity levels. o Inventory Management o Planning & Control: Match up customer demand to supply chain activities. o Purchasing: Manage buyer-seller relationships. o Logistics: Manage the movement of physical goods in your supply chain.
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o Cross-functional linkages: Finance: Budgeting MIS: What IT solutions make it all work together? Human Resources Marketing Accounting: Planning and Control Supply Chain Diagram ------Upstream---------- -------- --------Downstream--------- 2 nd Tier Supplier 1 st Tier Supplier ______ Distributor Retailer Issues o Length of chain o Complexity o Stability o Physical, Informational, and monetary flows Important Trends o E-Commerce: The use of IT solutions to automate business transactions. o Increasing competition and globalization: Fewer industries protected by geography. o Relationship Management: Competition between chains, not individual firms. Trust and coordination. Leap Frog Case o Discuss the length and complexity of the supply chain (upstream and downstream)
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o How did they predict the sales trend and how did they react? o How did they ramp up production so quickly? o What is the downside of the logistics solution? Ch. 2 Business Strategy: A mechanism for coordinating and guiding decisions regarding the elements of business. o Decide on core competency-How do we compete? Core Competency: Organizational strengths and abilities that: o Develop over long time periods o Are valuable o Competitors find it difficult or impossible to copy. Structural Elements o Buildings o Equipment o Computer systems Infrastructural Elements o Policies o People o Decision Rules o Organizational Structures The Strategic alignment between business strategy, supply chain strategy and other functional strategies: o Business Strategy
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Targeted customers/markets
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