33:799:301 Study Guide - Midterm Guide: Radio-Frequency Identification, Bid Price, Economic Order Quantity
23 Jan 2018
School
Department
Course
Professor
Document Summary
People think scm is managing steps in production of product but it"s more than a chain, logistics, or operations. Its the coordination of a network of independent organizations (trading partners involved in creating a project r service and moving it from suppliers to customers when and where they want it. It delivers value b managing processes of otherwise independent orgs so they collaborate with one another in an efficient, effective, and cost conscious way. Goal of scm = increase customer service while simultaneously reducing inventory investment and operating expenses. Two main reasons companies implement scm are to achieve cost savings and better coordinate resource. Connected by transportation and warehousing and integrated through information and planning. Logistics is the part that manages the flow and storage of goods from point or origin to point of consumption. Warehousing and distribution = facilities to store materials and finished products to receive, breakdown, repackage, and ship materials to manufacturing location or customer.
