Textbook Notes (363,550)
Canada (158,417)
GRA 741 (1)

GRA 741 Lecture notes for week 8.pdf

2 Pages
Unlock Document

Ryerson University
Graphic Communications
GRA 741
Diana Brown

GRA 741 Lecture notes for week 8 Managing the Process - Go With the Work Flow Logistics - The study and management of the planning, procurement, transportation, and storage of products - Originally applied to the planning and carrying out of military movements - Logistics will be used interchangeably with supply chain management - Supply Chain Management is: o Planning, implementing, and controlling all of the contractual and physical aspects of bringing a product or service from its most basic components to the end-user - Large firms also came to believe that their profits were more and more linked to their ability to cut inventory costs, especially with just-in-time delivery systems Purchasing - Ongoing buying of materials, supplies, and services that your business will need on a regular basis - The idea is that every time you buy or contract something for the business, you don’t want it to be a big decision-making exercise - The purposes of your purchasing system are: o to prevent your business from running out of inventory or supplies (you can’t make money if you don’t have the supplies needed for your service) o to reduce your costs by
More Less

Related notes for GRA 741

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.