Read the summary and the most important questions on Introduction to Operations and Supply Chain Management | 1292291583 | Cecil C. Bozarth, Robert B. Handfield

• 1 Introduction to Operations and Supply Chain Management

  This is a preview. There are 32 more flashcards available for chapter 1
  Show more cards here

• What is the operations function?

  The operations function is the collection of people, technology, and systems within an organization that has primary responsibility for providing the organization's products or services.

• Every organization must make a product or provide a service that someone values how does a transportation company do this?

  Transportation companies provide valuable services by moving and storing these goods

• How do supply chains link to the operations function of a company?

  Supply chains link together the operations functions of many different organizations to provide real value to customers.

• Most organizations function as part of larger supply chains, what is a supply chain?

  A supply chain is a network of manufactures and service providers that work together to create products or services needed by end users.

• One way to think about operations is a transformation process what is that?

  Transformation process takes a set of inputs and transforms them in some way to create outputs- either goods or services- that a customer values.

• What is the operations management about?

  Operations management is all the planning, scheduling, and control of the activities that transform inputs into finished goods and services.

• Organizations in the supply chain are linked together through physical flows,  information flows and monetary flows what doe we call it when it is up and down?

  We call it upstream and downstream

• What is the point of the supply chain?

  The point is that most of the participants in a supply chain are both customers and suppliers. Finally, the supply chain must be very efficient, as the final price of the good must cover all of the costs involved plus a profit for each participant in the chain.

• According to the SCOR model, supply chain management covers five broad areas what are those areas?

  1) planning activities
  2)sourcing activities
  3)make or production activities 
  4)delivery activities
  5)return activites

• Why do many retailers make multiple shipments to stores each day, based on continuous sales updates?

  This is cheaper