gms 200 Lecture Notes - Lecture 8: Spend Analysis, Main Source, Inventory Turnover

• School: Bishop's University
• Department: business management
• Course: gms 200
• Professor: Eric Rickman

Document Summary

Supply chain: sequence of organizations their facilities and activities that are involved in producing & delivering a product: raw material suppliers final customer. Supply chain management: collaboration of supply-chain companies and coordination of their activities so that market demand is met as efficiently & effectively as possible. Price, timeliness, quality, variety, & service important. Agree upon quality, cost, variety, service, timeliness, & fill rate. Then design products with these characteristics in mind. Then design supply chains with characteristics in mind (process types, location, etc) Production planning & control: forecasting, purchasing/ordering, material transportation, inventory control, scheduling of production & distribution, customer service. Can achieve risk pooling and hold inventory closer to customers by delayed differentiation: waiting until late in process to add differentiating features to standard components & products. Warehouse used to combine shipments of customers" orders & deconsolidate shipments of suppliers" products & cross-docking.