Management 302 Exam 1 Study Guide

Management 302 Exam 1 Study Guide - Management 302 Exam 1...

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Management 302 Exam 1 Study Guide Chapter 1 Operations and Supply Chain Management: the design, operation, and improvement of the systems that create and deliver the firm’s products and services Operations: ability to produce good/service Supply Chain: massive network of suppliers/ ___________/ consumers o Supply network – a pipeline through which material and info flows o Logistics processes that physically move product and the warehousing and storage processes that position products o Providing goods and services to plant and warehouse at the input end and also the supply of goods and service to the customer on the output end Management: constantly changing information Operations and supply chain management is constantly changing due to the dynamic nature of competing in global business and the constant evolution of information technology Customer vs. Consumer: Consumer: the individual Customer: McDonalds is a customer of Gordon Foods Services 5 Components of OSCM: 1. Planning – how do we organize resources; developing metrics to monitor the supply chain so that so that is efficient and delivers high quality and value 2. Sourcing – where do we get it from; selection of suppliers; receiving shipment, verifying, transferring to manufacturing facilities, authorizing supplier payments 3. Making – how do we make it; scheduling workers, coordinating material & equipment, metrics needed to measure speed, quality, and worker productivity 4. Delivering – aka logistics processes; carriers are picked to move products to warehouses and customers, coordinate and schedule movement of goods and information, develop and operate a network of warehouses and run the info systems that manage the receipt of orders from customers, and invoicing systems to collect payments 5. Returning – follow up activities required for after-sales report Can you be efficient? Firms that understand WHO they are can manage WHAT they do extremely well. Good vs. Service Tangibility: o Service is intangible process that cannot be weighed or measured o Good is tangible output of a process with physical dimensions o Implications: Business - service innovation cannot be patented; good can Customer – cannot tryout a service before purchasing Customer Interaction o Service requires degree of interaction with customer to be a service; service facility must be designed for customer presence o Goods usually produced in a facility separate from the customer; can follow an efficient production schedule
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Heterogeneous o Services are heterogeneous – they vary by customer attitude and produce unpredictable outcomes o Goods are homogeneous – essentially zero variability Storing o Services are perishable and time dependent o Goods canbe stored Senses o Services are defined and evaluated as a package of features affecting the five senses supporting facility – the restaurant facilitating goods – the menu, consistency of food
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This document was uploaded on 10/27/2011 for the course MKT 291 at Miami University.

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Management 302 Exam 1 Study Guide - Management 302 Exam 1...

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