Operations and Supply Chain Management: Chapter 2: operations and supply chain strategy Flashcards


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1

what is operations and supply chain strategy?

OSC strategy is concerned with setting broad policies and plans for using the resources of a firm and must be integrated with corporate strategy.

It can be viewed as part of the planning process that coordinates operational goals with larger organizational goals.

2

what is the focus of OSC strategy?

operations effectiveness.

3

what is operations effectiveness?

relates to the core business processes needed to run the business.

4

what are some of the strategies associated with operational effectiveness?

Quality assurance and control initiatives; process design; planning and control systems; and technology investments.

5

Why should an operations strategy be redesigned?

Because goals of the organization change over time, therefore an operations strategy needs to be redesigned from time to time to anticipate future needs.

6

Planning the strategy...

is a process that involves a set of activities that are repeated at different intervals over time.

7

what are the stages of formulating an OSC strategy?

1) Strategic Analysis

2) Initiatives

3) implementation projects

8

what is strategic analysis in the process of OSC strategy planning?

it is where the overall strategy is developed. it is performed at least yearly.

involves: looking out and forecasting how business conditions that impact the firm's strategy are going to change in the future.

9

describe the initiatives stage in the process of OSC strategy planning.

initiatives are major steps that need to be taken to drive success. Many of these initiatives are repeated from year to year.

Initiatives can:

- innovatively respond to market dynamics

- open new markets

- reduce costs.

10

What is 'implementation projects' in the process of OSC strategy planning?

it is a process that consist of defining specific implementation projects, identification of resources needed, project funding procurement.

Specific timing of the activities of the project are analyzed as part of each project implementation plan.

11

What are some of the dimensions of competitiveness?

Competitive dimensions: cost or price, quality, delivery reliability, delivery speed, coping with changes in demand, flexibility and new-product implementation speed.

12

What is design quality?

it relates to the set of features the product or service contains. (relates directly to the design of the product or service.

13

What is Process quality?

It relates directly to the reliability of the product or service.

The goal of process quality is to produce defect-free products and services.

14

What does the competitive dimension, 'delivery reliability' relates to?

This dimension relates to the firm's ability to supply the product or service on or before a promised delivery due date.

15

What is delivery speed?

a firm's ability to deliver more quickly than its competitors.

16

what is flexibility from a strategic perspective?

refers to the ability of a company to offer a wide variety of products to its customers.

17

When does a trade-off occur?

when activities are incompatible so that more of one thing necessitates less of another.

18

what is straddling?

when a company seeks to match the competitive dimensions of a competitor while maintaining its existing position.

19

what is order winner?

order winner is a criterion, or possibly a set of criteria that differentiates the products or services of one firm from those another (e.g., price, product quality and reliability)

20

Describe order qualifier.

order qualifier is a screening criterion that permits a firm's products to even be considered as possible candidates for purchase.

21

what is supply chain risk?

the likelihood of a disruption that would impact the ability of the company to continuously supply products or services.

22

what is supply chain disruption?

unplanned and unanticipated events that disrupt the normal flow of goods and materials within a supply chain.

23

Categorize risks related to OSCM.

we categorize risks by viewing the inherent uncertainties related to OSCM along 2 dimensions:

1) supply chain coordination risks that are associated with the day-to-day management of the supply chain.

2) Disruption risks: which are caused by natural or manmade disasters

24

what are the steps of risk management framework?

step 1: identify the sources of potential disruptions

step 2: assess the potential impact of the risk

step 3: develop plans to mitigate the risk

25

what is risk mapping?

involves assessment of the probability or relative frequency of an event against the aggregate severity of the loss.

26

what is productivity?

a common measure of how well a country, industry, or business unit is using its resources (or factors of production)

27

productivity =?

outputs/ inputs

28

productivity is a relative measure...

therefore it needs to be compared with something else to be meaningful.

29

The two ways of productivity comparison:

1) a comparison with silk market operations within industry

2) measure productivity over time within the same operation (compare productivity in one time period with that in the next)