Podcast
Questions and Answers
What is the main factor driving the growth of time-sensitive markets?
What is the main factor driving the growth of time-sensitive markets?
- Customers' drive for reduced inventories
- The effect of being late into the market and slow to meet demand
- Volatile markets making reliance on forecasts dangerous
- Shortening life cycles (correct)
In time-sensitive markets, what is the 'cost of time' for customers?
In time-sensitive markets, what is the 'cost of time' for customers?
- The cost of production
- The price of the product
- The additional costs incurred while waiting for delivery or seeking alternatives (correct)
- The cost of marketing
What is reflected in customers' purchasing behavior in time-sensitive markets?
What is reflected in customers' purchasing behavior in time-sensitive markets?
- They prioritize price over time
- They are not influenced by lead times
- They prioritize brand loyalty over time
- They value time (correct)
In industrial markets, what do buyers tend to prioritize when sourcing from suppliers?
In industrial markets, what do buyers tend to prioritize when sourcing from suppliers?
What happens if the preferred brand is out of stock in consumer markets?
What happens if the preferred brand is out of stock in consumer markets?
What are some pressures leading to the growth of time-sensitive markets?
What are some pressures leading to the growth of time-sensitive markets?
What is a major determinant of choice of supplier or brand in time-sensitive markets?
What is a major determinant of choice of supplier or brand in time-sensitive markets?
What do customers value increasingly in all markets according to the text?
What do customers value increasingly in all markets according to the text?
What is the strategic leadtime management goal?
What is the strategic leadtime management goal?
What does the pipeline management aim to achieve?
What does the pipeline management aim to achieve?
What is the primary focus for improvement in logistics process?
What is the primary focus for improvement in logistics process?
What does a supply chain map represent?
What does a supply chain map represent?
What does horizontal time determine?
What does horizontal time determine?
What can a rough-cut graph visually highlight?
What can a rough-cut graph visually highlight?
What percentage of total process time is value-adding in the example of pharmaceutical product analysis?
What percentage of total process time is value-adding in the example of pharmaceutical product analysis?
What can throughput efficiency indicate?
What can throughput efficiency indicate?
What do companies not managing the supply chain as an integrated system often experience considerable time consumption at?
What do companies not managing the supply chain as an integrated system often experience considerable time consumption at?
What is the primary factor determining an organization's ability to meet demand during the product life cycle?
What is the primary factor determining an organization's ability to meet demand during the product life cycle?
What is argued to be more important than the length of the order cycle from the customer's viewpoint?
What is argued to be more important than the length of the order cycle from the customer's viewpoint?
What can enable companies to offer both higher service levels and lower costs, breaking free of the classic trade-off between service and cost?
What can enable companies to offer both higher service levels and lower costs, breaking free of the classic trade-off between service and cost?
What measures the time it takes to convert an order into cash and considers the pipeline from raw material sourcing to the finished product?
What measures the time it takes to convert an order into cash and considers the pipeline from raw material sourcing to the finished product?
What is crucial for controlling lead times and meeting market needs in supply chain management?
What is crucial for controlling lead times and meeting market needs in supply chain management?
What is argued to be a continuing problem for organizations due to market volatility and lead time increases?
What is argued to be a continuing problem for organizations due to market volatility and lead time increases?
Flashcards
Time-Sensitive Market Growth Driver
Time-Sensitive Market Growth Driver
Shortening product life cycles are the main driver.
'Cost of Time'
'Cost of Time'
Additional costs from waiting for delivery or seeking alternatives.
Customer Behavior in Time-Sensitive Markets
Customer Behavior in Time-Sensitive Markets
Customers place a high value on speed and convenience.
Industrial Market Priorities
Industrial Market Priorities
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Out-of-Stock Impact
Out-of-Stock Impact
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Pressures on Time-Sensitive Markets
Pressures on Time-Sensitive Markets
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Determinant of supplier or brand
Determinant of supplier or brand
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Rising Customer Value
Rising Customer Value
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Strategic Leadtime Goal
Strategic Leadtime Goal
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Pipeline Management Aim
Pipeline Management Aim
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Logistics Process Focus
Logistics Process Focus
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Supply Chain Map
Supply Chain Map
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Horizontal time
Horizontal time
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Rough-Cut Graph Highlight
Rough-Cut Graph Highlight
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Value-Adding Time (Pharma Example)
Value-Adding Time (Pharma Example)
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Throughput Efficiency Indication
Throughput Efficiency Indication
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Time Consumption Bottleneck
Time Consumption Bottleneck
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Meeting Demand Factor
Meeting Demand Factor
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Customer Viewpoint Priority
Customer Viewpoint Priority
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Higher Service and Lower Costs
Higher Service and Lower Costs
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$Cash-to-Cash$ Cycle
$Cash-to-Cash$ Cycle
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Controlling Lead Times
Controlling Lead Times
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Continuing Problem for Organizations
Continuing Problem for Organizations
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Study Notes
Lead Time Management in Supply Chain
- The lead time to re-supply a market determines the organization's ability to meet demand during the product life cycle.
- Companies achieving reductions in order-to-delivery cycle gain a competitive edge over slower competitors.
- Many companies believe carrying inventory is the only way to service just-in-time deliveries, but this shifts the cost burden within the supply chain.
- Agility can enable companies to break free of the classic trade-off between service and cost, offering both higher service levels and lower costs.
- Forecast accuracy is a continuing problem for organizations due to market volatility and lead time increases.
- From the customer's viewpoint, the order-to-delivery cycle is critical, especially in a just-in-time environment.
- Reliability of delivery is argued to be more important than the length of the order cycle.
- Inefficient processes, bottlenecks, and order volume fluctuations can lead to significant variations in lead times.
- The cash-to-cash cycle measures the time it takes to convert an order into cash and considers the pipeline from raw material sourcing to the finished product.
- Strategic lead-time management and logistics pipeline management are crucial for controlling lead times and meeting market needs.
- The goals of logistics pipeline management include lower costs, higher quality, and more flexibility, achieved by managing the supply chain as an entity and seeking to reduce pipeline length and speed up flow.
- Differentiating value-adding time from non-value-adding time is crucial for understanding how logistics processes can be improved.
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