Opma 317 final Study guides, Class notes & Summaries

OPMA 317 Final Exam Latest Update with Verified Solutions Bullwhip effect Information (orders) going back through the supply chain are distorted and amplified How to improve the supply chain Communication and cooperation, and shorten lead times (allows faster response) On-shoring Local production near demand; reduces costs, length of lead times, and variability of lead times; easier to identify local needs; lead to the perception of keeping jobs local Supply Chain A network of facilities that...

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OPMA 317 Final Exam Latest Update Graded A bullwhip effect a distribution channel phenomenon in which forecasts yield supply chain inefficiencies. It refers to increasing swings in inventory in response to shifts in customer demand as you move further up the supply chain vendor managed inventory A means of optimizing Supply Chain performance in which the manufacturer is responsible for maintaining the distributor's inventory levels. The manufacturer has access to the distributor's inventory d...

OPMA 317 – Midterm Latest Update with Verified Solutions Process flow chart a diagram outlining the process from start to finish to compete a target goals, shows precedents, tasks, and time Processing time time to produce an order Throughput time the total timer required to complete a process How does knowing capacity help (3) customer order promising (don't over promise), pricing/profit per unit (need to satisfy a return), inventory supplies (track required raw materials for operation) B...

QUESTIONS AND ANSWERS

Supply-chain debrief: What caused people to act the way they did? and what did this lead to? (2) - ️️Lack of communication / cooperation , leading to the guessing of customer demand which led to arbitrary ordering decisions and the result is the bullwhip effect long lead time, could've been even longer if the supplier had no inventory what is the "bullwhip" effect? - ️️information (orders) going back through the supply chain is distorted and then amplified Supply-chain debri...