operations and supply chain managment

strategic sourcing development and management of supplier relationships to acquire goods and . or services in a way Aids in achieving the immediate and potential needs of the business Has the strategically importance sourcing = buying ? bullwhip effect Phenomenon of Variability magnification as we move from the customer to the producer in the supply chain A slight change in consumer sales ripple backward as magnified oscillations upstream like the result bullwhip effect using information sharing to reduce bullwhip effect behavioral finance vendor managed inventory (VMI) suppliers managebuyer inventories to reduce inventory carrying costs and avoid stockouts for buyer from buyer-firms perspective - from the supplier's perspective demand and supply uncertainty functional innovative stable evolving sourcing goes beyond simple material buying sourcing strategies outsourcing and off-shoring measurements outsourcing - away from the company movin...

matrix project a blend of pure and fundamental project structures people from different functional areas work on the project advantages better communications between functional areas project manager held responsible for success duplication of resources is minimized functional " home" for team members policies of the parent organization are followed disadvantages too many bosses depends on project managers negotiation skills potential for sub-optimization work breakdown structure statement of work: a written description of the objectives to be achieved work breakdown structure: defines the hierarchy of project tasks, subtasks, and work packages project milestones: specific events on the project project control charts gantt chart: a bar chart showing both the amount of time involved and the sequence in which activities can be performed critical path method a project is made up of a sequence of activities that form a network representing a proje...