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Comm 101 13 - Oct 18 - Supply Chain Operations.docx

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COMM 101
Jeff Kroeker

October 18, 2012 CL ASS 13 – SUPPLY CHAIN OPERATIONS Guest Speaker – Mahesh Nagarajan • Research - Mathematical modeling and optimization; health care Supply Chain • Manufacturer –> Distributor –> warehouse –> retail • Different company has different strategy, no one right formula • Lululemon – “Class A problem” – supply can’t keep up with demand o Good or bad problem? o Cost money for inventory, how much to keep in inventory Days of inventory – time from when production begins to when the inventory is sold Inventory Management • Inventory turnover ratio = (COGS)/ (Inventory) o COGS = Cost of Goods Sold = Cost of Revenue • Number of times in a year that you sell all your inventory – replenishment o Eg. 2 = sell all your inventory twice a year o Cannot compare to different industry (e.g. food vs. Technology) • 365/ratio = days it takes Guest Speaker • Box of cereal – how many days does it take from “factory to final sale”? o No expiry dates o About 104 days o Send out in large bulk, saves cost o Economists have different concerns • “buying direct” habits – from where it is produced (e.g. farmers) What is Operations Management? • What does an operations manager in a typical Fortune 500 firm do? o Coordinating suppliers, managing supplies o Product gets sent to where they want to o E.g. Air Canada – scheduling crew • Introduction of a new product – strategic position
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