Chapter 2 Vocab - Supply Chain

a set of competitive priorities coupled with supply chain structural and infrastructural design choices intended to create capabilities that support a set of value propositions targeted to address the needs of critical customers

determines the overall mission of the firm and the types of businesses that the firm wants to be in

the semi-independent organizations used to manage different product and market segments

determines how a strategic business unit will compete

the combination of the choices determining the customers an SBU will target, the value propositions it will offer, and the supply chain/operations management capabilities it will employ

a strategic planning technique to help firms identify opportunities where they can develop a sustainable competitive advantage and areas where the firm is significantly at risk

determines how the function will support the overall business unit strategy

a customer that the firm has targeted as being important to its future success

a collection of product and service features that is both attractive to customers and different than competitors' offerings

unique and superior operational abilities that stem from the routine, skills, and processes that the firm develops and uses

parties that use or consume the products of operations management processes

product traits that cause a customer to select one product over its competitors

product traits that must be met at a certain level for the product to be considered by the customer

product traits that, if not satisfied, cause the loss of either the current order or future orders

a statement of product and service features

provide a language for managers to communicate the value proposition in operational terms

a product's fitness for consumption in terms of meeting customers' needs and desires

the degree to which a product is delivered or available when the customer wants it

the amount of time that passes between the beginning and end of a set of activities

the total time that a firm takes to conceive, design, test, produce, and deliver a new or revised product for the marketplace

the time that passes from the instant the customer places an order for a product until the instant the customer receives the product

the expenses incurred in acquiring and using a product

both radical and incremental changes in processes and products

an operation's ability to response efficiently to change in products, processes (including supply chain relationships) and competitive environments

developing operations that anticipate and deal with problems resulting from natural events, social factors, economic issues, or technological issues

the network of physical devices that are embedded with sensors, software, and connectivity that enable data exchange and analysis

large data sets generated by tech such as social media and IoT

the application of sophisticated operations research techniques to big data with the goal of IDing, interpreting, and communicating meaningful patterns in the data

A branch of engineering that involves the conception, design, manufacture, and operation of robots

the protection of firms and their systems from the following three threats: (1) theft of data and intellectual property; (2) alteration of data; and (3) impairment or denial of process control (causing damage or breakdown of operations)

Maintaining operations that are both profitable and non damaging to society or the environment

an approach to corporate performance measurement that focuses on a company's total impact measured in terms of profit, people, and the planet

are unique and superior operational abilities that stem from the routines, skills, and processes that the business develops

the skills, processes, and systems that are unique to the firm and that enable it to deliver products that are both valued by the customer and difficult for competitors to imitate

the extent to which there is alignment between the firm's operational capabilities, its value proposition, and the desires of its critical customers

to carry out plans and initiatives in order to deliver the realized value to customers

to assess, communicate, and manage performance in ways that capture lessons learned and focus attention on areas needing improvement

a model that shows how operational changes affect the overall performance of a business unit