67%(3)2 out of 3 people found this document helpful
This preview shows page 1 - 3 out of 17 pages.
SCM Exam 1Chapter 1§Supply Chain Management – The active management of supply chain activities andrelationships in order to maximize customer value and achieve a sustainablecompetitive advantage.§Supply Chain – A network of manufacturers and service providers thatwork together to create products or services needed by end users. Thesemanufacturers are linked together through physical flows, informationflows, and monetary flows.§Why Study Supply Chain Management?§Every organization must make a product or provide a service that someonevalues.§Most organizations function as part of larger supply chains.§Organizations must carefully manage their operations and supply chains in orderto prosper, and indeed, survive.
§Operations Management –The planning, scheduling, and control of the activities thattransform inputs into finished goods and services.§Supply Chain Terminology• Focal Firm: The organization with which one identifies when discussing Supply