Operations Management Processes and Supply Chains

These flashcards cover key concepts within operations management and supply chains as discussed in the lecture notes.

Supply Chain Management

The synchronization of a firm's processes with those of its suppliers and customers to match the flow of materials, services, and information with customer demand.

Order Winners

Criteria customers use to differentiate the services or products of one firm from those of another.

Order Qualifiers

Minimum level required from a set of criteria for a firm to do business in a particular market segment.

Competitive Advantage

Achieving superior performance in the marketplace through product excellence and process excellence.

Facility Location

The process of determining geographic sites for a firm's operations.

Center of Gravity

A method used to evaluate locations based on the load-distance model.

Inventory Pooling

A reduction in inventory and safety stock achieved by merging variable demands from customers.

Humanitarian Logistics

The process of planning, implementing, and controlling efficient flow and storage of goods for the relief of vulnerable people.

Bullwhip Effect

A phenomenon where small fluctuations in demand at the retail level lead to larger fluctuations in demand at the wholesale, distributor, manufacturer, and raw material supplier levels.

Sustainability

Processes that meet the needs of the present without compromising the ability of future generations to meet their own needs.