RSM370H1 Study Guide - Fall 2018, Comprehensive Midterm Notes - Supply Chain, Supply Chain Management, Ableton
RSM370H1
MIDTERM EXAM
STUDY GUIDE
Fall 2018
How many Apple stores to have
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How many products to launch
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How often to launch products
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How much to stock in each store
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How frequently to replenish inventory
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How much staff for each store
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Apple
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Time between store placing order and order being delivered
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Short lead time
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Allows for rapidly changing product offerings within a season
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Fast fashion
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Supply parts for large organizations
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Maintenance repair organizations
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Examples of supply chains
In a supply chain, products flow from upstream to downstream
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Point of sale data, demand data
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Information flows from downstream to upstream
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Funds flow between neighboring entities along supply chain
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Supply chain flows
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Supply chain management entails managing supply chain flows and assets to maximize supply
chain surplus/value in a sustainable manner
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What is supply chain management
Each entity along supply chain has overlapping cycles
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Cycle view of supply chain
Push: firm must take on risk of making inventory decision and cost of holding inventory
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Pull: customer has to wait for product to be made
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Push processes are initiated by firm, pull processes are initiated by customer
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Push/pull view of supply chain
Business strategy involves the value proposition of how needs of customers are satisfied
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Must understand customer needs to achieve strategic fit
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Business strategy
Lecture 1: Framework for Supply Chain Design,
Planning, and Operation
September 12, 2018
RSM370 Page 1
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How to compete and what value to provide to customers?
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Strategic position
1.
Must balance efficiency vs responsiveness
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Given strategic position, what must operations do very well?
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Supply chain capabilities
2.
Facilities, inventory, transportation, information, sourcing, pricing
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How to achieve required capabilities to support the desired strategy?
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Supply chain design and operating policies
3.
Strategic framework for maximizing supply chain surplus
Demand is uncertainty
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Implied demand uncertainty higher with shorter lead time/higher responsiveness to
customer needs
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Implied demand uncertainty
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Some goods have higher supply uncertainty than others
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Supply uncertainty
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Uncertainty
RSM370 Page 2
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Document Summary
Time between store placing order and order being delivered. Allows for rapidly changing product offerings within a season. In a supply chain, products flow from upstream to downstream. Funds flow between neighboring entities along supply chain. Supply chain management entails managing supply chain flows and assets to maximize supply chain surplus/value in a sustainable manner. Each entity along supply chain has overlapping cycles. Push: firm must take on risk of making inventory decision and cost of holding inventory. Pull: customer has to wait for product to be made. Push processes are initiated by firm, pull processes are initiated by customer. Business strategy involves the value proposition of how needs of customers are satisfied. Must understand customer needs to achieve strategic fit. Implied demand uncertainty higher with shorter lead time/higher responsiveness to customer needs. Some goods have higher supply uncertainty than others. Seven-eleven"s value proposition is to provide meals conveniently to customers.
