Summary
Samenvatting Operations Mangement and Logistics
- Course
- Institution
- Book
The document contains a summary of all compulsory chapters in the book including formulas.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Lecture notes for Operations and Logistics Management
-
Supply Chain Operations samenvatting, H6, 10, 12-14
-
SCO samenvatting, H1-2, 4, 7 en reader
Seller
Followanne-fleurwismans
Reviews received
Content preview
Summary Operations Management and Logistics 26-03-2021Chapter 1
Supply Chain Management: the design, operation and improvement of the systems that create and
deliver the firm’s primary products and services.
Operations: manufacturing and service processes used to transform the resources employed by a
firm into products desired by customers.
Supply Chain: processes that move information and material to and from the manufacturing and
service process of the firm.
Process: one or more activities that transform inputs into outputs.
1. Planning: the firm determine how anticipated demand will be met with available resources.
2. Sourcing: involves the selection of suppliers that will deliver the goods and services needed
to create the firm’s product.
3. Making: where the major product is produced or the service provided.
4. Delivering: move products to the warehouses and customers, coordinate and schedule the
movement of goods and information through the supply network, develop and operate a
network of warehouses and run the information systems that manage the receipt of orders
from customers and the involving systems that collect payment from customers.
5. Returning: involves the processes for receiving worn-out, defective and excess products back
from customers and support for customers who have problems with delivered products.
Difference goods and services
1. Service is intangible.
2. A service requires some degree of interaction with the customer.
3. Services are heterogeneous.
4. Service is perishable and time dependent.
5. Specifications of a service are defined and evaluated as a package of features that affect the
five senses:
Supporting facility decoration, location, layout etc.
Facilitating goods: variety, consistency, quality etc.
Explicit service: training personnel etc.
Implicit service: attitude of the servers, waiting time etc.
Product-service bundling: a company building service activities intro its product offerings for its
customers.
Manufacturing strategy: emphasizes how a factory’s capabilities could be used strategically to gain
advantage over competing company.
JIT: an integrated set of activities designed to achieve high-volume production using minimal
inventories of parts that arrive exactly when they are needed.
TQC: aggressively seeks to eliminate causes of production defects.
Lean manufacturing: to achieve high customer service with minimum levels of inventory investment.
TQM: managing the entire organization so it excels in all dimensions of products and services
important to the customer.
CPR: an approach to improving business processes that seeks to make revolutionary changes as
opposed to evolutionary changes.
Six Sigma: a statistical term to describe the quality goal of no more than 3.4 defects out of every
million units.
Sustainability: the ability to meet current resource needs without compromising the ability of future
generations to meet their needs.
Triple Bottom Line: social, economic, environmental.
1
,Summary Operations Management and Logistics 26-03-2021
Efficiency: a ratio of the actual output of a process relative to some standard.
Effectiveness: doing things that will create the most value for the customer.
Value: the attractiveness of a product relative to its price.
Benchmarking: when one company studies the processes of another company to identify best
practices.
Annual Credit Sales
Receivable turnover=
Average Account Receivable
COGS
Inventory turnover =
Average Inventory value
Revenue(¿ sales)
Asset turnover=
Total assets
2
,Summary Operations Management and Logistics 26-03-2021
Chapter 2
Shareholders: those individuals or companies that legally own one or more shares of stock in the
company.
Stakeholders: those individuals or organizations that are influenced by the action of the firm.
Triple Bottom Line: social, economic, environmental.
OSC strategy: the setting of broad policies and plans that will guide the use of the resources needed
by the firm to implement its corporate strategy.
Operations effectiveness: performing activities in a manner that best implements strategic priorities
at minimum cost.
Initiatives: major steps that need to be taken to drive success in the firm.
Quality
Design quality: the set of features the product or service contains.
Process quality: it relates directly the reliability of the product or service (zero defects).
Straddling: when a firm seeks to match what a competitor is doing by adding new features, services,
or technologies to existing activities. This often creates problems if trade-offs need to be made.
Order Winner: one or more specific marketing-oriented dimension that clearly differentiate a
product from competing products.
Order Qualifier: dimension used to screen a product or services as a candidate for purchase.
Supply chain risk: the likelihood of a disruption that would impact the ability of a company to
continuously supply products or services.
Risks that are associated with the day-to-day management of the supply chain.
Risks which are caused by natural or manmade disasters.
Risk Mapping
1. Identify the sources of potential disruptions.
2. Assess the potential impact of the risk.
3. Develop plants to mitigate the risk.
Productivity: a measure of how well resources are used.
Outputs
Productivity=
Inputs
Inputs are labor, capital, materials and energy.
Multifactor: labor, capital and energy/materials.
3
, Summary Operations Management and Logistics 26-03-2021
Chapter 3
Contract manufacturers: an organization that performs manufacturing and/or purchasing needed to
produce a product or device not for itself, but as a service to another firm.
Core competency: the one thing that a firm can do better than its competitors.
1. It provides potential access to a wide variety of markets.
2. It increases perceived customer benefits.
3. It is hard for competitors to imitate.
The generic product development process
Phase 0: Planning making the project mission statement, which specifies the target market for the
product, business goals, key assumptions, and constraints.
Phase 1: Concept development the needs of the target market are identified, alternative product
concepts are generated and evaluated, and one or more concepts are selected for further
development and testing.
Phase 2: System-Level Design the definition of the product architecture and the decomposition of
the product into subsystems and components. The final assembly schema for the production system
is usually defined during this phase as well.
Phase 3: Detail Design includes the complete specification of the geometry, materials and
tolerances of all the unique parts in the product and identification of all the standard parts to be
purchases from suppliers.
Phase 4: Testing and Refinement involves the construction and evaluation of multiple
preproduction versions of the product.
Phase 5: Production Ramp-Up the production is made using the intended production system.
Products
1. Market pull: a firm begins product development with a market opportunity and then uses
whatever available technologies are required to satisfy the market need.
2. Technology push: the team begins with a new technology, then finds an appropriate market.
3. Platform: the team assumes that the new product will be built around an established
technological subsystem.
4. Process-intensive: characteristics of the product are highly constrained by the production
process.
5. Customized products: new products are slight variations of existing configurations.
6. High-risk products: technical or market uncertainties create high risks of failure.
7. Quick-build products: rapid modeling and prototyping enables many design-build-test cycles.
8. Complex systems: system must be decomposed into several subsystems and may
components.
Quality Function deployment: a process that helps a company determine the product characteristics
important to the consumer and to evaluate its own product in relation to others.
Value analysis/value engineering: analysis with the purpose of simplifying products and processes by
achieving equivalent or better performance.
Complexity: the number of steps involved in a service process.
Divergence: the number of ways a customer/service provider interaction can vary at each step
according to the needs and abilities of each.
Quality
Conformance quality: the degree to which the product or service design specification are
met.
Design quality: the inherent value of the product in the marketplace.
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller anne-fleurwismans. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.90. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now