Success of Operations and SCM depends on - Answer✔️✔️--Operations
related strats
-processes to deliver products and services
-analytics to support the decisions needed to manage the firm
Define operations and supply chain management - Answer✔️✔️-the design,
operation, and improvement of the systems that create and deliver the
firm's primary products and services
Operations and SCM is - Answer✔️✔️--a functional field of business
-concerned with management of entire production or service delivery
system
The Operations part of the process - Answer✔️✔️-Manufacturing and
service processes used to transform resources into products
-Manufacturing produces physical products
-Services produce intangible products
The Supply chain of the process - Answer✔️✔️-Processes that move info and
material to and from the firm
-Logistics processes move products
-Warehousing processes store products
-Info makes the process more efficient
The Supply Chain Process - Answer✔️✔️-Planning is in the center while the
following revolve around it
Returning -> Sourcing -> Making ->Delivering ->Returning
Planning - Answer✔️✔️-Processes needed to operate and existing supply
chain
Sourcing - Answer✔️✔️-selection of suppliers that will deliver the goods and
services needed to create the firm's product
Making - Answer✔️✔️-Producing the major product or service
Delivering - Answer✔️✔️-logistics processes such as selecting carriers,
coordinating the movement of goods and info, and collecting payments
from customers
Returning - Answer✔️✔️-receiving worn-out, excess, and/or defective
products back from customers
Goods are - Answer✔️✔️-tangible
require less interaction with customers
often homogeneous
not perishable - can be inventoried
Services are - Answer✔️✔️-intangible
interaction with customer required
inherently heterogeneous
perishable/time dependent
defined and evaluated as a package of features
Product - Service Bundling - Answer✔️✔️-refers to a company building
service activities into its product offerings.
ex. products that have warranties and training
ex. services enhanced through inclusion of products
Efficiency - Answer✔️✔️-doing something at the lowest possible cost
Effectiveness - Answer✔️✔️-doing the right things to create the most value
for your customer
Value - Answer✔️✔️-the attractiveness of a product relative to its cost
3
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