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exam1studyguide - SCM 186 Exam 1 Study Guide Understanding...

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SCM 186 – Exam 1 Study Guide Understanding Supply Chain Management - Importance of this course o All companies/organizations must deal with the topics and issues presented in this class o Operations management (OM) involves using resources and managing organizational relationships o When done well, effective OM and SCM can: Use resources more efficiently Improve business processes effectiveness Improve relationships between business entities Help meet strategic goals Increase customer service - SCM decisions o What needs to be done to give customers what they want? o How are we going to do what we need to do, and measure our performance? o When should activities be carried out? o Where should activities occur? o Who should do the activities? - Operations management is a process oriented discipline o A process is a system of activities that transforms inputs into valuable outputs - Important SCM themes: o We must configure value chains so they create customer value o Processes create output – the output from these processes is what eventually enhances customer value o Intra and inter-organizational integration is critical to value chain success o Balancing supply and customer demand is an ongoing challenge o Differentiation of our products or services is a continuous challenge - How companies compete o Product innovation Objective: continuous development of innovative products and services o Operational excellence Objective: lowest total cost provider o Customer intimacy Objective: best configured solution - Supply chain partners and functional activities o Upstream Supply management Finance Logistics management Warehousing/raw materials planning o Downstream Marketing Customer service
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Logistics management Warehousing/finished goods inventory planning - Value chain o A value chain is a sequence of business functions in which utility (usefulness) is added to products or services as they move from supplier to end customer o Value chains are often viewed like a river – upstream and downstream o All firms have value chains o Value chains are compromised of interrelated activities called primary and support activities o How firms configure their value chains can provide competitive advantage (or disadvantage) - Exceeding customer value expectations o What is value? Value is the customer’s subjective evaluation, adjusted for cost, of how well a good or service meets or exceeds expectations Value = P/C, where performance is a function of quality, speed, flexibility, and functionality Costs represent all costs that the customer incurs to acquire, use, and dispose of a good or service - Developing an operations strategy o Critical customer : critical to the firm’s success and receives the firm’s focus o Value proposition : tangible and intangibles that customers expect from a firm o Capabilities : what a firm does well, defines types of problems a firm can
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This note was uploaded on 02/25/2012 for the course MGMT 4375 taught by Professor Eixmann during the Fall '11 term at Texas State.

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exam1studyguide - SCM 186 Exam 1 Study Guide Understanding...

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