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CHAPTER 6 - Management Science II Dr.T.T.Narendran MODULE 3...

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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras MODULE 3 Historical Background Inventory lot-sizing models Time-series forecasting Production Planning & Control Purchasing Sales & Distribution All these functions have existed for a century ! THE TRANSITION (1970 – 1995) Inventory models came under attack (70’s) Enter MRP barb2right MRP II barb2right ERP And from Japan, JIT, TQM, Kaizen, etc. What Happened Thereafter? Need for better coordination /integration of functions Shorter time to manufacture Globalization Emergence of IT Led to the evolution of
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Evolution What Is Supply Chain ?
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Or………., Is It This ? Supply Chain Management Is a total systems approach to managing the entire flow of information, materials and services from raw material suppliers through factories, distribution centers and ware houses to the customer. Distribution Centers Warehouses Customers Plants Suppliers
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Overview Of Supply Chain Distributor s Factories/ Plants Supplier Customers
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Supply Chain Types External Supply Chain Involving other companies. Internal Supply Chain Involving functions / departments / business units within the organisation. SUPPLIERS DISTRIBUTORS/ WAREHOUSES CUSTOMERS THIRD PARTY LOGISTICS Supply /Inbound Logistics Production Distribution/Outbound logistics Information Flow Product Flow Money Flow Services Flow MANUFACTURERS
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Scm Functional Decisions 1. Procurement (Purchasing) decisions Supplier selection Sourcing / purchasing Vendor Managed Inventorie s Objectives Of Purchasing Provide uninterrupted flow of materials Buy competitively and wisely Minimize inventory holding costs Decisions Functional Temporal Strategic Tactical Operational Procurement Production Logistics
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Source development To develop good vendor relationships Achieve maximum integration with other departments Train purchase personnel To develop policies and procedures to achieve objectives (1-7) Purchasing Must Provide Material Of Right Source Right Price Right Quantity Right time Right Quality from the at the of the at the of the
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Management Science II Dr.T.T.Narendran Indian Institute of Technology Madras Right Quality Involves many factors: Price, installation cost, maintenance cost, life expectancy, market availability, workability and attitude of users Must balance three major considerations How to determine ?
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