Chapter 1 Vocab - Supply Chain

the management of processes used to design, supply, produce, and deliver valuable goods and services to customers

the global network of organizations and activities involved in designing, transforming, consuming, and disposing of goods and services

the process of transforming a tangible good into an intangible product or service, through digitization or direct service replacement

all the goods and services that are combined to define a customer's complete consumption experience

a system of activities that transforms inputs (people, \$) into valuable outputs (goods, services)

an operation that produces maximum levels of efficiency and effectiveness using a minimal amount of resources

a unique set of skills that confers competitive advantages to a firm, because rival firms cannot easily duplicate them

the design and execution of relationships and flows that connect the parties and processes across a supply chain

partners that use or consume the products of operations management processes

parties that provide inputs to operational processes

provide raw materials, components, and services directly related to manufacturing or service production processes

provide enhancements to finished goods such as assembly, packaging, storage, and transportation services

provide equipment, labor, product and process designs, and other resources needed to support a firm's processes

provide product service and support such as maintenance, repair, disposal, or recycling

groups of people who have a financial or other interest in the well-being of an operation

the management of the customer interface, including all aspects of order processing and fulfillment

the identification, acquisition, positioning, and management of resources and capabilities that a firm needs to attain its strategic objectives

management of the movement and storage of materials at lowest cost while still meeting customers' requirements

an upstream stage of supply

a firm that directly provides goods and/ or services to a company

provides inputs directly to the 1st tier supplier

a downstream stage of supply or consumption

a type of planning that addresses long-term decisions that define the operations objectives and capabilities for the firm and its partner

a type of planning that addresses intermediate-term decisions to target aggregate product demands and to establish how operational capacities will be used to meet them

a type of planning that establishes short-term priorities and schedules to guide operational resource allocations