ECON 4140 Study Guide - Midterm Guide: Red Bull Air Race World Championship, Iso 14000, Dmaic

• School: Ohio State University
• Department: Economics
• Course: ECON 4140
• Professor: All

Document Summary

Service vs. mfg processes: nature of output mfg physical products, can be produced, stored, and transported. Services are intangible and perishable: degree of customer contact services much higher and customers have active role, mfg capital intensive, quality measured easily, longer response time. Services labor intensive, quality not easily measured, short response time. Si(cid:373)ila(cid:396)ity: se(cid:396)(cid:448)ices do(cid:374)"t just offe(cid:396) se(cid:396)(cid:448)ices a(cid:374)d mfg p(cid:396)oduce(cid:396)s to just p(cid:396)o(cid:448)ide p(cid:396)oducts. Core processes set of activities that delivers value to external customers. Support processes provides vital resources and inputs to the core processes and therefore is essential to business (i. e. , budgeting, recruiting, scheduling) Supply chain processes have external customers or suppliers: outsourcing, warehousing, sourcing, customer service, logistics, cross docking. Corporate strategy - coo(cid:396)di(cid:374)ates the fi(cid:396)(cid:373)"s o(cid:448)e(cid:396)all goals (cid:449)ith its co(cid:396)e p(cid:396)ocesses, specifies businesses it will pursue, isolates threats, and identifies growth objects. Competitive capabilities: the cost, quality, time, and flexibility dimensions that a process or supply chain possesses and can deliver.