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SCM - SUPPLY CHAIN MANAGEMENT NOTES CHAPTER 1 INTRODUCTION...

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SUPPLY CHAIN MANAGEMENT NOTES CHAPTER 1 INTRODUCTION I. Definition of Supply Chain Management - Operations Management (OM) – the management of processes used to design, supply, produce and deliver valuable goods and services to customers o How resources will be developed and used to accomplish business goals o Processes that transform inputs including materials, info, energy and people into goods and services o The planning and execution of tasks that may be long-term or short term in nature o Brings together activities of internal operations w/ the operations of customers, suppliers, firms and stakeholders o Must be consistent w/ strategic goals of the firm o Changes in customers’ demands, resources, competition and technologies - Supply Chain (SC) – global network of organizations and activities involved in designing a set of goods and services transforming inputs into goods and services, consuming these goods and services and disposing of these goods and services o organizations do all value-creating activities required to innovate, plan, source, make, deliverer and return or dispose of a given set of products and services o involves connections and relationships among organizational parties who play various roles for a given set of products o increases economic value, functional value and psychosocial value of goods & services - GET REAL: WHY YOU NEED TO STUDY OPERATIONS MANAGEMENT o Important at the micro and macro levels Macro: determines the economic destiny of peoples around the world b/c shifts in economic and quality of life can be traced to industrial and technological revolutions Example: assembly line in 20 th century improve productivity Determines effectiveness of governmental and not-for-profit institutions Micro: operational activities deliver goods and services that support and enhance our daily lives A.
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