PRELIM MAAM ZANDRA

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is management of the flow of goods, data, and financesrelated to a product or service, from the procurement of raw materials to the delivery ofthe product at its final destination.

Supply Chain Management

is a network of suppliers, manufacturers, assemblers, supply and deliverycenters, and logistics installations that perform functions such as material sourcing,processing, and shipment to buyers of those materials of an intermediate or finishedproduct.

Supply Chain

Supply chain management (SCM) integrates stakeholderintegration between the client and the provider.

Integrated Bahavior

Effective SCM often includes reciprocalchannel risks and incentives to have a competitive benefit. The long-term emphasis andcoordination between supply chain participants should be risk-sharing andrewards-sharing.

Manually Sharing Channel Risk and Rewards Signup and view all the answers

particular for planning and surveillance processes, anefficient SCM exchange of informati0on between channel participants is needed.

Manually Sharing Information Signup and view all the answers

The successful SCM requires cooperation between the channelparticipants. Cooperation refers to the company’s coordinated, identical, orcomplementary operations in an enterprising relationship, in order to achieve collectivelyreckoned, superior results.

Cooperation Signup and view all the answers

Supply chain is effective where all supply chainmembers serve consumers with the same objective and concentration. A mode of policyconvergence has the same aim and focal point for supply chain members.

focus on servicing Customers Signup and view all the answers

Implementing SCM requires the convergence of systems fromthe supply chain to production and delivery. Integration can be achieved undercross-functional conditions, by staff of plant suppliers and serices provided by thirdparties.

Integration Processes Signup and view all the answers

The objective of successfulpartnerships is to merge channel policies to reduce duplication and overlap in the searchfor a degree of cooperation that makes partners more efficient at lower costs. Integrationof policies is possible if the chain members have clear cultures and management strategies.

Partners to Build and Maintain Long-term Relationship Signup and view all the answers

Fuctions of Supply Chain Management

strategic level, tactical level, operational level Signup and view all the answers

Challenges in Hospitality Industry related in supply chain

<ol> <li>Raw Materials Costs</li> <li>Material Ordering Costs</li> <li>Inventory Handling</li> <li>Emergency Purchases</li> </ol> Signup and view all the answers

Five basic components of supply chain management

<ol> <li>Plan</li> <li>Source / Develop</li> <li>Make</li> <li>Deliver</li> <li>Return</li> </ol> Signup and view all the answers

The initial stage of the supply chain process is the planning stage. We need to develop a plan or strategy in order to address how the products and services will satisfy the demands and necessities of the customers. In this stage, the planning should mainly focus on designing a strategy that yields maximum profit.

plan Signup and view all the answers

refers to the process of predicting demand, supply or pricing for a product.

Forecasting Signup and view all the answers

is an integral part of a company’s supply chain management strategy, alongside order management, accounting, warehouse operations, and customer management. inventory planning involves forecasting demand and deciding, exactly how much inventory and when to order.

Inventory Management Plan Signup and view all the answers

is the process by which a firm decides how much to charge customers for its goods and services. Pricing affects the customer segments that choose to buy the product, as well as influencing the customer’s expectations.

Product Pricing Planning Signup and view all the answers

a demand planning process that deals with a large number of individual demand items. A demand plan is a plan for the provision of goods and or services to satisfy demand in a given area.

Aggregate Planning Signup and view all the answers

total goods in the market

Supply Signup and view all the answers

the amount of product available

Demand Signup and view all the answers

product features that influence the demand

Product Characteristics Signup and view all the answers

actions of product suppliers in the market

Competitive Environment Signup and view all the answers

is a method of predicting future demand based on the relationship between a dependent variable and one or more independent variables, such as price, promotion, weather, or seasonality.

Causal forecasting Signup and view all the answers

is a technique for the prediction of events through a sequence of time. It predicts future events by analyzing the trends of the past, on the assumption that future trends will hold similar to historical trends

Time series forecasting Signup and view all the answers

scenarios help in evaluating different scenarios by changing the demand plan parameters, causal factors, or configuration of a forecasting profile. Simulation enables you to change almost any input to the forecasting process, and in near real time see what impacts it would have on the results.

Simulating forecast Signup and view all the answers

-is theacquisition procedure used by an organization to obtain the required products and services.

PROCUREMENT Signup and view all the answers

After planning, the next step involves developing or sourcing. In this stage, we mainly concentrate on building a strong relationship with suppliers of the raw materials required for production. This involves not only identifying dependable suppliers but also determining different planning methods for shipping, delivery, and payment of the product

SOURCE / DEVELOP Signup and view all the answers

is stock which is in high demand during particular times of the year, such as during Christmas or Halloween. This influx in sales is called seasonal demand or seasonality – fluctuations in demand for products or services that are dependent on the time of the year.

Seasonal Inventory Signup and view all the answers

is carried to satisfy demand subject to unpredictable demand fluctuations and to reduce product shortages. This type of inventory cushion is also called safety stock or buffer inventory. Safety stock can help the supply chain manager improve product availability in the presence of uncertainty

Safety Inventory Signup and view all the answers

refers to the goods, supplies, or raw materials that a business keeps on hand to meet its minimum production requirements. Due to the continuous "cycling" of the inventory during normal business operations, cycle inventory is essential to the company's operations

Cycle Inventory Signup and view all the answers

The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery

Make Signup and view all the answers

Responsiveness can be had by stocking high levels of inventory for a wide range of products. Additional responsiveness can be gained by stocking products at many locations so as to have the inventory close to customers and available to them immediately

inventory Signup and view all the answers

This driver can be made very responsive by building factories that have a lot of excess capacity and use flexible manufacturing techniques to produce a wide range of items. To be even more responsive, a company could do their production in many smaller plants that are close to major groups of customers so delivery times would be shorter

Production Signup and view all the answers

The last and final stage of supply chain management is referred as the return, also called as “reverse logistics” . In the stage, defective or damaged goods are returned to the supplier by the customer. Here, the companies need to deal with customer queries and respond to their complaints etc.

RETURN Signup and view all the answers

The fourth stage is the delivery stage. Here the products are delivered to the customer at the destined location by the supplier. This stage is basically the logistics phase, where customer orders are accepted and delivery of the goods is planned

DELIVER Signup and view all the answers

The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery

Make Signup and view all the answers

PRELIM MAAM ZANDRA

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is management of the flow of goods, data, and financesrelated to a product or service, from the procurement of raw materials to the delivery ofthe product at its final destination.

is a network of suppliers, manufacturers, assemblers, supply and deliverycenters, and logistics installations that perform functions such as material sourcing,processing, and shipment to buyers of those materials of an intermediate or finishedproduct.

Supply chain management (SCM) integrates stakeholderintegration between the client and the provider.

Effective SCM often includes reciprocalchannel risks and incentives to have a competitive benefit. The long-term emphasis andcoordination between supply chain participants should be risk-sharing andrewards-sharing.

particular for planning and surveillance processes, anefficient SCM exchange of informati0on between channel participants is needed.

The successful SCM requires cooperation between the channelparticipants. Cooperation refers to the company’s coordinated, identical, orcomplementary operations in an enterprising relationship, in order to achieve collectivelyreckoned, superior results.

Supply chain is effective where all supply chainmembers serve consumers with the same objective and concentration. A mode of policyconvergence has the same aim and focal point for supply chain members.

Implementing SCM requires the convergence of systems fromthe supply chain to production and delivery. Integration can be achieved undercross-functional conditions, by staff of plant suppliers and serices provided by thirdparties.

The objective of successfulpartnerships is to merge channel policies to reduce duplication and overlap in the searchfor a degree of cooperation that makes partners more efficient at lower costs. Integrationof policies is possible if the chain members have clear cultures and management strategies.

Fuctions of Supply Chain Management

Challenges in Hospitality Industry related in supply chain

Five basic components of supply chain management

refers to the process of predicting demand, supply or pricing for a product.

is an integral part of a company’s supply chain management strategy, alongside order management, accounting, warehouse operations, and customer management. inventory planning involves forecasting demand and deciding, exactly how much inventory and when to order.

is the process by which a firm decides how much to charge customers for its goods and services. Pricing affects the customer segments that choose to buy the product, as well as influencing the customer’s expectations.

a demand planning process that deals with a large number of individual demand items. A demand plan is a plan for the provision of goods and or services to satisfy demand in a given area.

total goods in the market

the amount of product available

product features that influence the demand

actions of product suppliers in the market

is a method of predicting future demand based on the relationship between a dependent variable and one or more independent variables, such as price, promotion, weather, or seasonality.

is a technique for the prediction of events through a sequence of time. It predicts future events by analyzing the trends of the past, on the assumption that future trends will hold similar to historical trends

scenarios help in evaluating different scenarios by changing the demand plan parameters, causal factors, or configuration of a forecasting profile. Simulation enables you to change almost any input to the forecasting process, and in near real time see what impacts it would have on the results.

-is theacquisition procedure used by an organization to obtain the required products and services.

is stock which is in high demand during particular times of the year, such as during Christmas or Halloween. This influx in sales is called seasonal demand or seasonality – fluctuations in demand for products or services that are dependent on the time of the year.

is carried to satisfy demand subject to unpredictable demand fluctuations and to reduce product shortages. This type of inventory cushion is also called safety stock or buffer inventory. Safety stock can help the supply chain manager improve product availability in the presence of uncertainty

refers to the goods, supplies, or raw materials that a business keeps on hand to meet its minimum production requirements. Due to the continuous "cycling" of the inventory during normal business operations, cycle inventory is essential to the company's operations

The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery

Responsiveness can be had by stocking high levels of inventory for a wide range of products. Additional responsiveness can be gained by stocking products at many locations so as to have the inventory close to customers and available to them immediately

The last and final stage of supply chain management is referred as the return, also called as “reverse logistics” . In the stage, defective or damaged goods are returned to the supplier by the customer. Here, the companies need to deal with customer queries and respond to their complaints etc.

The fourth stage is the delivery stage. Here the products are delivered to the customer at the destined location by the supplier. This stage is basically the logistics phase, where customer orders are accepted and delivery of the goods is planned

The third step in the supply chain management process is the manufacturing or making of products that were demanded by the customer. In this stage, the products are designed, produced, tested, packaged, and synchronized for delivery

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