Operations and Supply Chain Management Overview

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Questions and Answers

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?

Service operations

Production planning

Financial auditing (correct)

Purchasing

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?

Data analyst for marketing Signup and view all the answers

Which element is essential for the success of operations within OSCM?

Effective strategy and processes Signup and view all the answers

What role does a customer play in the supply chain?

An individual or business that purchases goods or services Signup and view all the answers

Which of the following best describes the function of a retailer?

Sells goods exclusively to the final consumer Signup and view all the answers

What is the main function of operations in the supply chain?

To transform resources into products or services Signup and view all the answers

Which statement accurately defines a supplier or vendor?

A party that supplies goods or services to another business Signup and view all the answers

In the context of supply chain processes, what does the term 'supply chain' refer to?

The movement of information and materials within and outside a firm Signup and view all the answers

What is the primary purpose of supply chain management?

To oversee the flow of goods from suppliers to manufacturers and customers Signup and view all the answers

Which of the following best describes the relationship between manufacturing processes and supply chain?

Manufacturing processes transform resources into products, and supply chain manages delivery processes Signup and view all the answers

Which role does a supplier play in the supply chain?

Provides raw materials or services to manufacturers Signup and view all the answers

What is an essential task of operations processes in the context of supply chains?

Transforming inputs into a finalized product or service Signup and view all the answers

What aspect of customer behavior significantly impacts supply chain management?

Customer preferences shape the types of goods and services offered Signup and view all the answers

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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Description

This quiz covers the fundamentals of Operations and Supply Chain Management (OSCM), focusing on how systems design, operation, and improvement affect production and delivery. It examines key processes, terminologies, and the roles of various participants in the supply chain.