logo image

Supply Chain Management (Chapter 1)

Functional structure:
The blueprint of departments within an organization, each of which is responsible for a set of closely related activities
Typical functions or departments found in a modern organization include
purchasing, operations, warehouse, sales and marketing, research and development, finance and accounting, human resources, and information systems.
Business processes, such as the procurement and fulfillment processes consist of activities that occur in different, seemingly unrelated functions or departments.
In other words, these processes are cross-functional, meaning no single group or function is responsible for their execution. Rather, it is a shared responsibility among many functional areas.
Enterprise systems (ES):
Systems that support end-to-end processes and are essential to the efficient and effective execution and management of business process
Silo effect:
A tendency where workers complete their tasks in their functional “silos” without regard to the consequences for the other components in the process
The key driver for this productivity and efficiency is
the ability of modern enterprise systems to effectively manage a business process from beginning to end in an integrated, consistent, and highly efficient manner.
successful organizations and industries
processes and enterprise systems to complete the work needed to achieve their goals.
Business process:
A set of tasks or activities that produce desired outcomes
Three processes are directly related to creating and delivering products and services.
They are buy, make, and sell.
Closely related to buying, making, and selling are four processes
used to design, plan, store, and service products.
The procurement process (buy):
refers to all of the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed to make products.
The production process (make):
involves the actual creation of the products within the organization. Whereas the production process is concerned with acquiring needed materials internally (by making them), the procurement process is concerned with obtaining needed materials externally (by buying them). Each is appropriate for different types of materials
The fulfillment process (sell):
consists of all the steps involved in selling and delivering the products to the organization’s customers.
The life cycle data management process (design):
supports the design and development of products from the initial product idea stage through the discontinuation of the product.
The material planning process (plan):
uses historical data and sales forecasts to plan which materials will be procured and produced when, and in what quantities.
The inventory and warehouse management (IWM):
process (store) is used to store and track the materials.
The asset management and customer service processes (service): are used to maintain internal assets such as machinery and to deliver after-sales customer service.
are used to maintain internal assets such as machinery and to deliver after-sales customer service such as repairs.
Human capital management (HCM) processes (people)
processes (people) focus on the people within the organization and include functions such as recruiting, hiring, training, and benefits management.
Going further, two support processes are related to people and projects
Human capital management (HCM) processes (people) and Project management processes (projects
Project management processes (projects)
are used to plan and execute large projects such as the construction of a new factory or the production of complex products such as airplanes.
procurement process includes
all of the tasks involved in acquiring needed materials externally from a vendor
two processes, which track the financial impacts of processes.
Financial accounting (FI) processes (track- external) and Management accounting or controlling (CO) processes (track- internal)
Financial accounting (FI) processes (track- external)
track the financial impacts of process steps with the goal of meeting legal reporting requirements— for example, the Internal Revenue Service (IRS) or the Securities and Exchange Commission (SEC).
Management accounting or controlling (CO) processes (track- internal)
focus on internal reporting to manage costs and revenues
A customer order (fulfillment process) could
trigger the need to buy something, such as raw materials or component parts needed to manufacture the product.
The material planning process
could indicate that the company needs to procure materials based on a forecasted demand for products or trigger in-house production.
The asset management or customer service process could
trigger the procurement of a part needed to repair a machine or a product previously purchased by a customer.
Fulfillment
is concerned with efficiently processing customer orders.
Material: A term that encompasses all the products, components, parts, and so on that an organization uses— makes, buys, stores, sells, etc.
A term that encompasses all the products, components, parts, and so on that an organization uses— makes, buys, stores, sells, etc.
The purpose of material planning
is to match the supply of materials with the demand.
lead time
is the time between placing the order and receiving the shipment.
Excess supply will result in
increased inventory costs, which are the expenses associated with storing materials.
Inventory and warehouse management (IWM):
is concerned with the storage and movement of materials.
Insufficient supply will result in
a situation called stock-out in which the company cannot meet its customers’ demand
corrective maintenance
is done as needed–for example, repairing a machine when it breaks down.
Lifecycle data management provides
a set of tools to manage product design and improvement throughout the lifecycle of a product. It enables an organization to optimize its product development process, from design to market, while ensuring that it complies with industry, quality, and regulatory standards. At the same time, it provides users— that is, the organization’s employees— with access to product data at any point in the product’s lifecycle.
Asset management is concerned with
both the preventive and corrective maintenance of an organization’s equipment
Preventive maintenance is performed
periodically–for example, the routine maintenance of a machine in a factory.
Human capital management (HCM):
consists of numerous processes related to all aspects of managing people in an organization. Examples of HCM processes are recruitment, hiring, training, compensation and benefits management, and payroll administration.
project management refers to the processes a company uses to plan and execute large-scale projects.
the processes a company uses to plan and execute large-scale projects.
Financial accounting is concerned with
tracking the financial impacts of processes with the primary goal of meeting legal and regulatory reporting requirements. Thus, it is externally focused.
GAAP means
generally accepted accounting principles
Accounts payable is
associated with the procurement process and is used to track money that is owed to vendors. Similarly, accounts receivable is used to track money owed by customers.
general ledger process records
the impacts of various process steps on a company’s financial position. The impacts are recorded in a number of accounts in the general ledger that represent an organization’s income, expenses, assets, and liabilities.
asset accounting is concerned with
tracking financial data related to assets such as machinery and cars.
Management Accounting or Controlling:
The tracking of costs and revenues for internal reporting that is intended to help management control costs and revenues and assess the profitability of various products and market segments
Which term refers to business processes that are not executed by a single group or function?
Cross-Functional
An enterprise system is a set of tasks or activities that produce desired outcomes.
False
Lead time is the time between placing the order and receiving confirmation that the item has been shipped.
False
Which of the following departments or functions are involved in the basic procurement process using a procure to stock strategy?
Warehouse, Purchasing, Accounting
The term materials encompasses which of the following?
Products, Components, Parts
Which of the following products fall(s) within GBI’s line of business?
Deluxe and professional touring bikes, Men and Women’s off-road bikes, and Bike Accessories
Information systems that support end-to-end processes are called business processes.
False
Projects rely on resources located in and work performed in other processes.
True
Which term represents a set of tasks or activities that produce desired outcomes?
Business Process
1) Which term refers to business processes that are not executed by a single group or function?
Cross-Functional
2) An enterprise system is a set of tasks or activities that produce desired outcomes.
False
3) Lead time is the time between placing the order and receiving confirmation that the item has been shipped.
Fasle
4) Which of the following departments or functions are involved in the basic procurement process using a procure to stock strategy?
a) Warehouse
b) Purchasing
c) Accounting
5) The term materials encompasses which of the following?
a) Products
b) Components
c) Parts
6) Which of the following products fall(s) within GBI’s line of business?
a) Deluxe and professional touring bikes
b) Men and women’s off-road bikes
c) Bike accessories
7) Information systems that support end-to-end processes are called business processes.
False
8) Projects rely on resources located in and work performed in other processes.
True
9) Which term represents a set of tasks or activities that produce desired outcomes?
Business Process
10) Which of the following departments or functions are involved in the basic procurement process using a procure to stock strategy?
a) Warehouse
b) Purchasing
c) Accounting
Asset management process:
The set of tasks or activities that are concerned with preventive and corrective maintenance of internal company assets such as machinery
Controlling:

Si

The tracking of costs and revenues for internal reporting that is intended to help management control costs and revenues and assess the profitability of various products and market segments
Customer service process:
The set of tasks or activities that are concerned with providing after-sales after-sales customer service such as repairs

Need essay sample on "Supply Chain Management (Chapter 1)"? We will write a custom essay sample specifically for you for only $ 13.90/page

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy