MGT 302- Exam #1 Study Guide

MGT 302- Exam #1 Study Guide - MGT 302 Exam #1 Study Guide...

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Unformatted text preview: MGT 302 Exam #1 Study Guide Chapter 1 Operations and Supply Chain Management (OSCM) o The design, operation and improvement of the systems that create and deliver the firms primary products and services Planning- processes needed to operate an existing supply chain strategically. Anticipate demand with available resources. Sourcing- Selection of suppliers that will deliver the goods/services needed to create the product. Pricing, delivery, and payment processes are needed. Making- where the major product is produced or service provided. Need workers and coordination of materials Delivering- Logistics processes. Products are moved from warehouses and stores. Information systems are crucial. Invoicing to collect payment as well Returning- Process of receiving worn-out, defective, and excess products from customers and support customers who are having issues o Operations= manufacturing and service processes that are used to transform the resources employed by a firm into products desired by customers. o Supply= supply chain processes that move information and material to and from the manufacturing and service processes of the firm Service= Intangible process that cannot be weighed/measured. Cannot be patented. Requires some degree of interaction with the customer, can be brief, but must exist. Face-to-face. Heterogeneous (vary from day-to-day, hour-to-hour). Perishable and time-dependent o Core Service= must integrate tangible goods hotels, airlines, internet service providers o Pure Service= teaching, medical advice, financial consulting Products/Goods= A tangible output of a process. Can be patented. Produced in a facility separate from the customer. Homogeneous, can be produced with no variability. Can be stored. o Pure Good= low margin commodity businesses food products, chemicals, book publishing o Core Good= provide a significant service component appliances, automobiles, data storage systems Servitization= A company building service activities into its product offerings for its current users, it is installed based. o Firms can unknowingly morph into a service firm in an attempt to add differentiation to their product o *Can increase revenues, but not always margins (cost of serving goes up, which results in the ability to meet requirements goes down) Value= Quality divided by Price. o...
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MGT 302- Exam #1 Study Guide - MGT 302 Exam #1 Study Guide...

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