Part I, Objective 1: Supply Chain Management (SCM) and Operations Management (OM)
Supply chain management is the business of overseeing the flow of materials to manufacturers, wholesalers, retailers and consumers. It is an external process that involves supply chain managers communicating with other vendors to ensure a product flows through the supply chain smoothly. Once a product reaches the consumer, it has already flowed through multiple organizations – these organizations collectively are referred to as the supply chain. Effective supply chain management should result in a relatively seamless production process while also minimizing costs on a continuing basis. Operations management, by definition, is the development, execution and
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I also learned about three types of forecasting: short-term (daily operations, work schedules, production schedules), intermediate (product launches, employee hiring) and long-term (building/selling of a plant, opening/closing of facilities) which can all help in forecasting, or predicting, what demand will be and how many supplies will be needed to satisfy demand. Activity diagrams can also be used in project management (activity on arrow or activity on node) to determine the critical path and the shortest amount of time required to complete the critical path activities.
Part I, Objective 4: Develop and Manage Efficient Global Supply Chains
On a global level, I’ve learned that without the proper planning and forecasting, any disruptions will affect your supply chain drastically. In order to combat this, supply chain managers must take into consideration weather patterns in other locations, language barriers, government regulations and cultural differences and how to project demand in these unique scenarios. It’s also very costly to operate at a global level; calculating center-of-gravity seeks to calculate geographic conditions for a single facility that will minimize costs. Overall, I’ve learned it’s possible to minimize such risks by creating a plan, measuring performance frequently and
Animal Farm is a book written by George Orwell. The book is about how animals revolted against their farmer who did not treat them well. Farmer Jones would abuse the animals and not feed them well. The animals were tired over it and scared Jones and his wife off the farm. Animal Farm connects to my theme statement because all the animals just wanted to be treated equal and wanted to feel respected. One night, all of the animals came together Old Major, the wise pig, told them “Only get rid of man, and the produce of our labor would be our own. Almost overnight we could become rich and free” (page 7). What Old Major is really emphasizing the point that once Farmer Jones is gone everyone will be free and equal. My theme statement is really saying
“Time for your daily pill” shouts the nurse kindly. Though it’s hard to believe people are nice,
Extraordinary achievements have been made through ancient civilizations. Philosophers that have changed the way we look at things every day came from the ancient Greek world, especially during the prosperous Golden Age of Athens, Greece. Aristotle, a famous philosopher, taught his philosophy during this period of time in Greece. Using his intellect and astounding ideas, Aristotle created a legacy that influenced people for ages.
Supply-chain management consists of developing a strategy to organize, control, and motivate the resources involved in the flow of services and materials within the supply chain. A supply chain strategy, an essential aspect of supply chain management, seeks to design a firm’s supply chain to meet the competitive priorities of the firm’s operations strategy.
Reorders are placed at the time of review (T), and the safety stock that must be reordered is:
I attended my second APICS Central Indiana Professional Development Meeting at Carmel on the 13th of March 2014. The keynote speaker was Bill Whiteside, who is a founder of Demand Solution Northeast, which markets and supports the Demand Solution suite of forecasting and supply chain management software in the Northeast US. He is a graduate of the University of Notre Dame and a professional member of APICS. At that dinner event, he presented twelve supply chain forecasting lesson from “The Signal and The Noise.”
Southwest Airline is said to be the largest airline firm in the world and yet it charges low-fare costs to its large population of customers. Interestingly, it is noted that the company is one that depends on a large pool of suppliers whom are found necessary for the business to operate desirably. Such suppliers are mentioned to include: maintenance firms, fuel suppliers, food suppliers, and others (Laudon & Laudon, 2011). Thomas (2012) informs that a firm can benefit a lot from an effective supply chain management which can even have various policies for managing suppliers and serving consumers that enable a firm to greatly reduce its operational costs. It is expounded that these policies are those that establish profitable relationships between customers and suppliers within the supply chain. Thus, large firms with a large population of customers and many suppliers, different customer needs are linked to various business channels which produce various products and services through a complex supply chain process which has different modes of operating. This is said to be necessary for the sake of capitalizing both on organization’s profitability and satisfying customers’ needs. This knowledge creates a need to analyze the supply chain management process of Southwest Airlines purposely to: (a) determine how market demands are met by its
3) Random variation is an aspect of demand that increases the accuracy of the forecast.
Mellat-Parast and Spillan (2014) defines supply chain management as the method of handling material and information moves from the beginning, through the organization, and to the end-user. This is a very important factor of organizational strategy.
* supply chain manager: negotiates contracts with vendors and coordinates the flow of material inputs to the production process and the shipping of finished products to customers
Supply chain management (SCM) is the supervision of materials, information, and finances as they move in a process from supplier to manufacturer to retailer to the cessation consumer. There are three crucial flows of the supply chain: The product flow, the information flow and the finances flow. SCM involves coordinating and integrating these flows both inside and between
Supply Chain Management according to Tom Mc Guffog is "Maximising added value and reducing total cost across the entire trading process through focusing on speed and certainty of response to the market." Supply chain management is one of the important area which requiring strategic planning in a business enterprise. Planning and decision making are required right from the production of goods till the goods reach the ultimate consumers in the most cost effective and timely manner. If a firm is able to manage its supply chain efficiently, it can increase its customer satisfaction because SCM ensure the deliverance of fast and quality products to customers. Supply chain includes all the activities from the conversion of raw materials, one end
In this assignment I will define, compare and contrast the management concepts and outline how they are similar and how they interrelate with each other. I will also outline how the concepts will help an organisation improve its business processes. The four concepts I will be using in this assignment will be as follows:
Demand forecasting through analytics can help a firm produce only as much stock as is demanded in the market. Hence over stocking and stock-outs can be handled in better ways through analytics.
1. Supply-chain management is the management of the activities that procure raw materials, transform them into intermediate goods and final products, and deliver the products to customers through a distribution system.