Operations and Supply Chain Management (OSCM)
The design, operation, and improvement of the systems that create and deliver the firm's primary products
... [Show More] and/or services
Operations and Supply Chain Management (OSCM)
A functional field of business that is concerned with the management of the entire production/delivery system
Brainpower
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operations
a part of OSCM that involves the manufacturing and service processes that are used to transform resources into products
supply chain
a part of OSCM that describes the processes that move information and materials to and from the firm
Supply chain management
the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities
this includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third party service providers, and customers
aka this integrates supply and demand management within and across companies
Planning
a process activity that is needed to operate an existing supply chain, to meet demand with available resources
5 activities: planning, making, sourcing, delivering, returning
Sourcing
a process activity that involves the selection of suppliers that will deliver the goods and services needed to create the firm's product
5 activities: planning, making, sourcing, delivering, returning
Making
a process activity that produces the major product or services
Scheduling has implications of cost and quality
5 activities: planning, making, sourcing, delivering, returning
Delivering
a process activity that involves logistics processes such as selecting carriers, coordinating the movement of goods and information, and collecting payments from customers
5 activities: planning, making, sourcing, delivering, returning
Returning
a process activity that involves receiving worn-out, excess, and/or defective products back from customers
most important of all
5 activities: planning, making, sourcing, delivering, returning
goods
something that is tangible, often homogenous, and not perishable (can be inventoried)
this requires less interaction with customers in OSCM
services
something that is intangible, heterogeneous, time dependent (perishable) and usually defined and evaluated as a package of features
this requires Interaction with customers in OSCM
efficiency
this phrase means doing something at the lowest possible cost
efficiency
this is described as "doing the thing right" in OSCM
effectiveness
this is described as "doing the right thing" in OSCM, essentially to create the most value for your customer
value
this phrase is used to describe the attractiveness of a product relative to its cost/price
sustainability
the ability to meet current resource needs without compromising the ability of future generations to meet their needs [Show Less]