HPC 102 Midterm

46問 • 1年前

問題一覧

refers to the actions and decisions that a company takes to reach its business goals and be competitive in its industry. It defines what the business needs to do to reach its goals, which can help guide the decision-making process for hiring and resource allocation.

Business strategy

signifies a peak level of performance that uses the least amount of inputs to achieve the highest amount of output.

efficiency

is the degree to which a correct prediction or forecast of a system's state can be made either qualitatively or quantitatively.

Predictability

refers to your business's ability to respond to service inquiries and fulfill them in a timely manner

Responsiveness

three steps to use in aligning your supply chain with your business strategy.

•Understand the Markets Your Company Serves •Define core competencies of your company •Develop Needed Supply Chain Capabilities

the dynamic external system in which a business competes and functions.

Competitive environment

means outside requirements of a product or service

demand

describes the demand for a given product and who wants to purchase it. This is determined by how willing consumers are to spend a certain price on a particular good or service.

market demand

means all operations needed to plan and organize the operations in the other three categories.

plan

activities necessary to acquire the inputs to create products or services

source

operations required to develop and build the products and services that a supply chain provides.

make

activities that are part of receiving customer orders and delivering products to customers.

deliver

Once demand forecasts are created, the next step is to create this to meet the product demand It sets the optimum levels of production and inventory that will be followed over the next 3 to 18 months.

aggregate planning

Companies and entire supply chains can influence demand over time by using price.

product pricing

set of techniques that are used to manage the inventory levels within different companies in a supply chain. The aim is to reduce the cost of inventory as much as possible while still maintaining the service levels that customers require.

inventory management plan

amount of inventory needed to satisfy demand in periods between replenishment.

cycle inventory

buffer against uncertainty in demand and order lead times.

safety inventory

built up in anticipation of expected increases of demand at certain times of year

seasonal inventory

process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

procurement

finding a source from where the goods and services can be procured.

sourcing

These activities are the routine activities related to issuing purchase orders for needed products.

purchasing

Effective procurement begins with an understanding of how much of what categories of products are being bought across the entire company as well as by each operating unit

consumption management

There must be an ongoing process to define the procurement capabilities needed to support the company’s business plan and its operating model.

vendor selection

This is where the specific items, prices, and service levels are worked out

contract negotiation

Once contracts are in place, vendor performance against these contracts must be measured and managed.

contract management

What are the five supply chain drivers

production inventory location transportation information

2 things that are harder to find in Efficiency?

Predictability Stability

means making an estimation in the present for a future occurring event.

forecasting

SCOR stands for?

supply chain operations reference

What are the Simplified model identifies four categories of operations:

plan source make deliver

What are the 4 forecasting variables

demand supply product characteristic competitive environment

To attract customers – And also manage receivables risk

Set Credit Policy

Analyze potential customers to screen out those who won’t pay – Work with sales people and customers to collect payment for products delivered by company

Implement Credit and Collections Practices

Find ways to lower risk of selling to new customers – Create credit and financing programs to fit customer needs – Review and revise customer credit status over time

manage credit risk

Is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.

Economic order quantity (EOQ)

describes the process of imagining, creating, and iterating products that solve users' problems or address specific needs in a given market.

product design

allocates available capacity (equipment, labor, and facilities) to the work that needs to be done. The goal is to use available capacity in the most efficient and profitable manner.

production scheduling

This often means long production runs and centralized manufacturing and distribution centers. The idea is to generate and benefit from economies of scale.

high utilization rates

This usually means short production runs and just-in-time delivery of raw materials. The idea is to minimize the assets and cash tied up in inventory.

low inventory levels

Often requires high levels of inventory or many short production runs. The aim is to provide the customer with quick delivery of products and not to run out of stock in any product.

High Levels of Customer Service

The first step in scheduling a multi-product production facility is to determine the

economic lot size

process of passing order information from customers back through the supply chain from retailers to distributors to service providers and producers.

Order Management (Deliver)

are deliveries made from one originating location to one receiving location.

direct deliveries

deliveries that are routed to either bring products from a single originating location to multiple receiving locations or deliveries that bring products from multiple originating locations to a single receiving location.

milk run deliveries

are facilities such as factories or warehouses where a single product or a narrow range of related items are available for shipment.These facilities are appropriate when there is a predictable and high level of demand for the products they offer and where shipments will be made only to customer locations that can receive the products in large, bulk amounts. They offer great economies of scale when used effectively.

single product locations

are facilities where bulk shipments of products arrive from single product locations. When suppliers are located a long distance away from customers, the use of a this provides for economies of scale in long-distance transportation to bring large amounts of products to a location close to the final customers

distribution centers

Reed finals

Leah Jean Better · 28問 · 2年前

Reed finals