COMM 310 Chapter Notes - Chapter 5: Inventory Turnover, Vertical Integration, Demand Forecasting
Document Summary
Chapter 5 operations management & supply chain management. & includes many interrelated activities forecasting capacity planning. Om in business: managing inventories, motivating & training employees deciding where to locate facilities assuring quality. Is mainly integrates the information links between functions within the firm (e. g. marketing, sales, finance, manufacturing and distribution) and also between firms. Is integrates planning, decision-making processes, business operating processes, & info sharing for business performance management supply chain integration -> give companies superior supply chain capabilities & increased profits impacts on supply chain by is/it: Is allows visibility in supply chain -> electronic info flows allow managers to view suppliers" & customers" supply chains. Consumer behaviour companies can respond faster & more effectively to customer demands through supply chain enhancements like demand planning software retain customers b/c can better meet their expectations. Speed increased accuracy, frequency & speed of communication between suppliers & customers company able to satisfy continually changing customer requirements efficiently, accurately & quickly.