33:799:301 Lecture Notes - Lecture 2: Average Absolute Deviation, Moving Average, Risk Management

• School: Rutgers University
• Department: Supply Chain Management
• Course: 33:799:301
• Professor: William McLaury

Document Summary

Enabling process: e(cid:374)a(cid:271)li(cid:374)g p(cid:396)o(cid:272)esses fa(cid:272)ilitate a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s a(cid:271)ilit(cid:455) to (cid:373)a(cid:374)age the suppl(cid:455) (cid:272)hai(cid:374). (pa(cid:396)t of the entire supply chain process) Plan- establishes the parameters within which the supply chain will operate. Sourcing- ide(cid:374)tif(cid:455)i(cid:374)g the supplie(cid:396)s that fit (cid:455)ou(cid:396) (cid:374)eeds a(cid:374)d (cid:455)ou(cid:396) (cid:272)usto(cid:373)e(cid:396)s" (cid:374)eeds (i(cid:373)po(cid:396)ta(cid:374)t to (cid:271)uild relationships) Manufacturing (make)- series of operations performed to convert materials to a finished product: products are tested, packaged, and scheduled for delivery, quality management is very important. Deliver- known as the logistics phase--- executing and planning the forward flow of goods to meet customer requirements. Return- known as reverse logistics--- goes against the normal flow of products to the market. Have to create a responsible and flexible network for dealing with this and supporting customers: many companies will outsource this kind of work because they do not want to deal with it. Logistics- refers to activities that occur within the purview of a single organization.