MIS – Chapter 3 1) What is a supply chain? What is the purpose of supply chain management systems? A Supply chain is a structure of organizations‚ people‚ equipment‚ actions‚ information and supply involved in moving a product or service from supplier to customer. In its elementary from‚ a supply chain consists of three main phases: procurement of raw equipment‚ processing the equipment into middle and complete supplies‚ and release of the supplies to the client. Supply chain management systems
Premium Supply chain management
Summary Swisher Systems Corporation (SSC) is an industrial heating company that was established in 1949 (W.C. Benton‚ 2010). SSC is an innovator of flexible heating products‚ particularly with its knit and braided heating element. The heating element consists of a multi-stranded resistance wire which is knit and braided with fiberglass and is the center technology for most of all the Swisher Systems’ products. Swisher is also known in the heating industry as being the highest quality
Premium Supply chain management Procurement Inventory
Discussion Questions for OM 5016 Class 2 Ch 1 &2. Operations Management Introduction and Strategy 1. What is Operations Management? What are major OM decisions? 2. What are the key differences between goods and services? 3. What a role does productivity play? How to measure productivity and what challenges do we have in measuring and improving productivity? 4. What is mission and strategy? How important is it for an organization to develop a mission and strategy? 5. What
Premium Supply chain management Management Production and manufacturing
is Gold”‚ Abstractmind‚ viewed 9 December 2010‚ http://abstractmind.i.ph/blogs/abstractmind/2008/02/04/time-is-gold/ 10. Trendset information system‚ viewed 9 December 2010‚ http://www.trendsetinc.com/freight-payment/news.html 11. Wilhite T‚ 2010‚ “MRP vs ERP systems‚ Ehow‚ http://www.ehow.com/about_6535613_mrp-_amp_-erp-systems.html
Premium Logistics Supply chain management Inventory
Chapter 14 Material Requirements Planning (MRP) and ERP Background This chapter covers a lot of issues. After being hit with a big chunk of inventory theory in Chapter 12‚ students may be surprised to see inventory appear once again in a different form. As the calculations are all relatively straightforward‚ the most important goal should be to help students understand the underlying concepts and tradeoffs. The MRP section of the chapter is basically about planning ahead so that everything
Free Enterprise resource planning
INVENTORY MANAGEMENT * Types of Inventory * Inventory Costs * Independent – Demand Items and Inventory Costs * Inventory Monitoring * Production Management Systems * Other Issues in Inventory Management What is Inventory? * An investment in the sense that it requires that the firm tie up its money‚ thereby forgoing certain other earnings opportunities. * The higher a firm’s average inventories‚ the larger the dollar investment and cost required and vice
Premium Inventory Economic order quantity
Introduction Operations management is the department responsible for overseeing the transformation process through which company resources (e.g. land‚ labor‚ capital‚ and/or customers) are converted into goods and services. It is the operation manager’s responsibility to ensure that products being manufactured meet specifications of quality and design‚ that they are produced according to schedule‚ and that this done at minimum cost to the company. The magnitude of this task requires that the operations
Premium Management
INTRODUCTION Inventory is the total amount of goods or materials contained in a store at any time. Store owners need to know the precise number of items on their shelves and storage areas in order to place orders or control losses. Factory managers need to know how many units of their products are available for customers orders. Restaurants need to order more food based on their current supplies and menu needs. All of these business rely on an inventory count to provide answers. The word ‘Inventory’
Premium Inventory Supply chain management Economic order quantity
of raw materials‚ work in progress and finished goods in organization maintains to meet its operational needs. Materials-requirements planning (MRP): Operation planning system in which end products are analyzed to determine the materials needed to produce them. Materials-resource planning (MRP II): Operational planning system that extends MRP by
Premium Management Computer Manufacturing
Chapter 14 MRP is usually practiced on items with dependent demand. (true) The Aggregate Plan‚ derived from the Master Production Schedule‚ specifies in more detail how much of each product is to be made at what time. (False) If 100 units of Q are needed and 10 are already in stock‚ gross requirement is 100 and net requirement is 90. Each R requires 4 of component S; each S requires 3 components of T. Lead time for R is 1 week. Lead time for S is two weeks. For T is 6. Lead time for R is _____
Premium Variable cost Costs Fixed cost