Podcast
Questions and Answers
What is the primary focus of Operations and Supply Chain Management (OSCM)?
What is the primary focus of Operations and Supply Chain Management (OSCM)?
- To manage financial operations to optimize profits
- To oversee the systems that create and deliver products and services (correct)
- To improve customer service and satisfaction levels
- To enhance marketing strategies within the firm
Which of the following is NOT typically included in Operations and Supply Chain Management processes?
Which of the following is NOT typically included in Operations and Supply Chain Management processes?
- Service operations
- Production planning
- Financial auditing (correct)
- Purchasing
What distinguishes goods-producing processes from service-producing processes?
What distinguishes goods-producing processes from service-producing processes?
- Goods-producing processes have higher inventory levels than service-producing processes (correct)
- Goods-producing processes focus on intangible outputs, while service-producing processes produce tangible products
- Service-producing processes are typically more automated than goods-producing processes
- Service-producing processes require more capital investment than goods-producing processes
Which career opportunity would be least associated with Operations and Supply Chain Management?
Which career opportunity would be least associated with Operations and Supply Chain Management?
Which element is essential for the success of operations within OSCM?
Which element is essential for the success of operations within OSCM?
What role does a customer play in the supply chain?
What role does a customer play in the supply chain?
Which of the following best describes the function of a retailer?
Which of the following best describes the function of a retailer?
What is the main function of operations in the supply chain?
What is the main function of operations in the supply chain?
Which statement accurately defines a supplier or vendor?
Which statement accurately defines a supplier or vendor?
In the context of supply chain processes, what does the term 'supply chain' refer to?
In the context of supply chain processes, what does the term 'supply chain' refer to?
What is the primary purpose of supply chain management?
What is the primary purpose of supply chain management?
Which of the following best describes the relationship between manufacturing processes and supply chain?
Which of the following best describes the relationship between manufacturing processes and supply chain?
Which role does a supplier play in the supply chain?
Which role does a supplier play in the supply chain?
What is an essential task of operations processes in the context of supply chains?
What is an essential task of operations processes in the context of supply chains?
What aspect of customer behavior significantly impacts supply chain management?
What aspect of customer behavior significantly impacts supply chain management?
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Study Notes
Operations and Supply Chain Management (OSCM)
- OSCM is the design, operation, and improvement of systems that create and deliver the firm's primary products and services.
- It is a functional field of business concerned with the management of the entire production/delivery system.
Key Processes
- Operations: Manufacturing and service processes used to transform resources into products/services.
- Supply Chain: Processes that move information and material to and from the firm.
SCM Terminology
- Customer: An individual or business that purchases goods or services produced by a business and has the ability to choose between different products and suppliers.
- Retailer: A business or person that sells goods to the consumer, specifically goods only, only to consumers.
- Supplier/Vendor: A party that supplies goods or services.
- Distributor: An agent who supplies goods to retailers.
- Logistics: The general management of how resources are acquired, stored and transported to their final destination.
- Warehouse/Distribution Centre: A commercial building used to receive goods, store them for a period of time then ship them to their destination.
SCOR - Supply Chain Operations Reference Model
- A framework that provides a common language and structure for organizations to understand, manage, and improve their supply chains.
- The SCOR model identifies five core processes:
- Plan: Processes needed to operate an existing supply chain.
- Source: Selection of suppliers that will deliver the goods and services needed to create the firm’s product.
- Make: Producing the major product or service.
- Deliver: Logistics processes such as selecting carriers, coordinating the movement of goods and information, and collecting payments from customers.
- Return: Receiving worn-out, excess, and/or defective products back from customers.
Goods Versus Services
- Goods: Tangible, less interaction with customers, often homogeneous, not perishable (can be inventoried).
- Services: Intangible, interaction with customer required, inherently heterogeneous, perishable/time dependent, defined and evaluated as a package of features.
Efficiency, Effectiveness, and Value
- Efficiency: Doing something at the lowest possible cost.
- Effectiveness: Doing the right things to create the most value for your customer.
- Value: The attractiveness of a product relative to its cost.
Careers in Operations and Supply Chain Management
- Supply chain manager
- Plant manager
- Purchasing manager
- Business process improvement analyst
- Lean improvement manager
- Quality control manager
- Facilities manager
- Project manager
- Chief operating officer
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