MGT 302 Lecture Notes - Lecture 1: Block Chain
11 Feb 2018
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Document Summary
What is supply chain- the design, operation, and improvement of systems that create and deliver the firm"s primary products and services. Supply chain management- concerned with the management of this system. Planning-firm must determine how demand will be met with available resources. Sourcing-selection of suppliers needed in order to create the firm"s products. Returning-support for customers who have problems with their products after the sale. Supply chain path: raw materials, supplier, manufacturing, distribution, customer (retailer, consumer (final consumer) Operations: manufacturing and service processes used to transform resources into products. Supply chain-move information and material from the firm. Information is used to make the process more efficient. Differences between goods and services: services are intangible, services require interaction with customers, services are less standardized, services are perishable and time dependent. Building service activities into products to create additional customer value. Efficiency- doing something for the lowest possible cost.
