Summary study book Operations and supply chain management of F. Robert Jacobs & Richard B. Chase - ISBN: 9780077164232, Edition: 3, Year of publication: 2012
HOOFDSTUK 1: OPERATIONS AND SUPPLY CHAIN MANAGEMENT
Operations and supply chain management (OSCM) = the design, operation, and
improvement of the systems that create and deliver the firm’s primary products and services.
Operations = manufacturing and service processes that are 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 processes of the firm.
Types of Processes = made up of one or more activities that transform inputs into outputs.
1. Planning = consists of the processes needed to operate an excisting supply chain
strategically.
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 = logistics processes.
5. Returning = processes for receiving worn-out, defective, and excess products bavk
from customers and support for customers who have problems with delivered
products.
Differences between services (and goods):
1. Tangible vs intangible
2. Interaction with the customer
3. Heterogeneous vs homogeneous
4. Perishable and time dependent
5. Package of features
a. Supporting facility
b. Facilitating goods
c. Explicit services
d. Implicit services
The goods-services continuum:
Pure goods
Core goods
Core services
Pure services
Product-service bundling = when a firm builds service activities into its product offerings to
create additional value for customers.
Efficiency = doing something at the lowest possible cost.
Effectiveness = doing the things that will create the most value for the customer.
Value = the attractiveness of a product relative to its cost. Quality / price.
Receivable turnover = annual credit sales / average account receivable
= measures the number of times receivables are collected, on average, during a fiscal year.
Gemaakt door: Linde Erinkveld
,= measures a company’s efficiency in collecting its sales on credit.
High ratio: short lapse between sales and the collection of cash.
The lower the ratio, the longer receivables are being held and the higher the risk of them
nog being collected.
Inventory turnover = COGS / average inventory value
= measures the average number of times inventory is sold and replaced during the fiscal year.
= measures the company’s efficiency in turning its inventory in sales.
= measures the liquidity of inventory.
Low = signal of inefficiency
High = either strong sales or ineffective buying
Asset turnover = Revenu (or sales) / total assets
= the amount of sales generated for every dollar’s worth of assets.
= measures a firm’s efficiency at using its assets in generating sales revenue.
comparisons between unrelated businesses are not useful.
COO = Chief Operating Officer
Manufacturing Strategy Paradigm (Late 1970s/early 1980s) = emphasized how
manufacturing executives could use their factories’ capabilities as strategic competitive
weapons. The management must devise a focused strategy, creating a fcused factory that
performs a limited set of tasks extremely well.
Lean Manufacturing, JIT, TQC (1980s) =
Just In Time production = an integrated set of activities designed to achieve high-
volume production using minimal inventories of parts that arrive at the workstation exactly
when they are needed.
Total Quality Control = seeks to elimate causes of production defects.
Lean Manufacturing = used to refer to the set of concepts.
Ford was al eerder!
Service Quality and Productivity (Mid 1980s)
Total Quality Management and Quality Certification (late 1980s and 1990s) = Baldrigde
National Quality Award: recognises companies each year for outstanding quality management
systems.
Business Process Reengineering (late 1990s) = seeking innovations in the processes by
which they run their operations. They needed to become lean to remain competitive in the
global economic recession. The BPR seeks to make revolutionary changes as opposed to
evolutionary changes (=TQM).
Six Sigma Quality (1980/1990) = extensive set of diagnostic tools.
Supply Chain Management = apply a total system approach to managing the flow of
information, materials, and services from raw material suppliers through factories and
warehouses to the end customer.
- Mass customization = the ability to produce an unique product exactly to a particular
customer’s requirements.
- outsourcing
forcing companies to find flexible ways to meet customer demand.
Electronic Commerce (late 1990s) = refers to the use of the Internet as an essential element
of business activity.
Gemaakt door: Linde Erinkveld
, Service Science = direct response to the growth of services. SSME = Service Science
Managment and Engineering. Aims to apply the latest concepts in information technology to
continue to improve service productivity of technology-based organizations.
Business Analytics = the use of current business data to solve business problems using
mathematical analysis.
Major challenges in the field of OSCM:
1. Coordinationg the relationships between mutually supportive but separate
organizations.
2. Optimizing global supplier, production, and distribution networks.
3. Managing customer touch points
4. Raising senior management awareness of OSCM as a significant competitive weapon.
5. Sustainability and the Triple Bottom line.
a. Sustainability = the ability to meet current resource needs without
compromising the ability of future generations to meet their needs. The ability
to maintain balance in a system.
b. Triple Bottom Line = a business strategy that includes social, economic, and
environmental criteria.
HOOFDSTUK 2: STRATEGY AND SUSTAINABILITY
Strategy = describes how a firm intends to create and sustain value for its current
shareholders.
Sustainability = the ability to meet current resource needs without compromising the
ability of future generations to meet their needs.
o Shareholders = those individuals or companies that legally own one or more
shares of stock in the company.
o Stakeholders = those individuals or organizations that are influenced, either
directly or indirectly, by the actions of the firm.
Triple bottom line = evaluating the firm against
social, economic, and environmental criteria.
= People, Profit, Planet
= Folk, Work and Place
Social = fair and beneficial business
practices toward labor, the community,
and the region in which a firm conducts
its business.
Economic = the firm is obligated to
compensate shareholders who provide
capital through stock purchases and
other financial instruments via a
competitive return on investment.
Environmental = the firm’s impact on the environment. The company should protect
the environment as much as possible, or at least cause no harm.
Gemaakt door: Linde Erinkveld
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