ECON 1 Lecture Notes - Lecture 10: Active Management, E-Commerce, Operations Management
Document Summary
Introduction to operations and supply chain management bozarth&handfield chapter 1. Operation management: the planning, scheduling and control of the activities that transform inputs into finished goods & services . Inputs can vary in form and come from different places. Operations: often highly dependent on the quality & availability of inputs. Operation activities require: coordination with other businesses ( -> cross-functional decision making, decisions and information, supply chain management. Upstream: term used to describe activities or firms that are positioned earlier in the supply chain relative to some other activity/firm of interest, example: corn harvesting takes place upstream of cereal processing. Downstream: term used to describe activities/firms that are positioned later in the supply chain relative to some other activity/firm, example: sewing a shirt takes place downstream of weaving the fabric. First-tier supplier: supplier that provides products/services directly to a firm. Second-tier supplier: supplier that provides products/services to firm"s first tier supplier.
