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28 Cards in this Set
- Front
- Back
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value equation
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= performance / cost
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performance = ?
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quality + timeliness
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value is determined by customers using:
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subjective and objective criteria
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value is judged according to:
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expectations and need
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truths of value
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begins and ends with the customer
is relative must be measured is dynamic must be in sync with capabilities and processes must be understood by people is a corporate strategic activity |
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how can customers perceive value?
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quality
timeliness (lead time) cost flexibility |
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how long it performs before it fails
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reliability
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the degree to which a product meets or exceeds certain operation characteristics
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performance
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the interval between the start and end of an activity or series of activities
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lead time (LT)
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assemble to order (ATO)
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standardized, raw material/components are stored and finished goods are produced when order is received
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make to stock (MTS)
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keep finished goods inventory in stock
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engineer to order (ETO)
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unique, customized to fit specific needs
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make to order (MTO)
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standardized
cannot be stored economically (plane, yacht) |
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dimensions of total cost
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acquisition
repair maintenance operating salvage/resale disposal |
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dimensions of flexibility
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range
mobility uniformity of performance |
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types of business processes
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strategic planning
innovation customer service supply chain |
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components of a process
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activities
inputs/outputs/flows structure resources metrics |
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bottleneck
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activity in the process that has the least capacity due to the limits of its available resources
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3 ways to deal with variability
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reduce it (eliminate, control)
buffer it (safety stock) respond to it (flexibility) |
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red flags in process flow
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long waits
long execution times paperwork or extraneous info lots of movement and people waits for decisions from above |
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reducing bullwhip effect
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buffering
postponement info sharing coordination |
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CPFR
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collaborative planning, forecasting, and production replenishment
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CRM
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customer relationship management
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supply chain metrics
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customer satisfaction/quality
time cost assets |
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cash-to-cash cycle time =
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total days of supply
+ days sales receivables outstanding - days payables outstanding |
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SCRT
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supply chain response time
= forecast cycle + reevaluate cycle + time to increase production by 20% |
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category of manufacturing processes that completes a single job or set of activities
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project
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provides high flexibility to produce a variety of products in limited volumes
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job shop
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