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Cash Flow
the movement of money across members to finance the supply chain
Distribution Channels
One or several businesses or individuals that take part in the flow of goods and services from the manufacture to the end user or consumer
Distributor
intermediaries between manufactures and stores that deliver the finished products
information flows
the movement of information up and down the supply chain for members to make informed decisions, minimize risk, adapt to changes, and quickly detect problems
intergrity
a strong adherence to values
manufacturer
the business who produces goods and wants to distribute them to its consumers
product flow
the movement of raw materials and products across the supply chain
Shipper
an get or business who ships products by means of transportation
Suppliers
also known as vendors, are the individuals or businesses who provide goods or services to the manufacturer for their products
Supply chain
consists of all the internal and external partners who participate, beginning with the raw materials or supplies and ending with the final consumer making use of the product or service
Supply chain management
the planning and administration of all the activates needed to source and purchase convert, and all logistics management activities
Warehouse
a place, such as a room or building, where finished products are stored until their distribution is for sale
What benefits does a supply chain bring?
Revenues go up
Cost go down A well-managed supply chain will significantly impact a business's bottom life
Improves member’s profits
Boost customer service
The supply Chain Components
Planning
Logistics
Warehouse
Production
Demand and Inventory
Sourcing and Purchasing
What are the two types of supply chains?
Efficiency and Responsiveness
What is Efficiency focused on
Increasing profits
What is Responsiveness focused on
quickly meeting the expectations
The Fast Chain model
• Used for businesses that manufacture products that are based on trends or products with a short life cycle.
• Works best when products must change frequently and get them to customers before the end of the trend
• Must focus on constant product portfolio renewal, accurate demand forecasting, and low production costs to pass on the savings to consumers
What type is The Fast Chain model
Efficiency model
The continuous flow model
· Focus on producing the same product that no little to no variations. Best when he same product can be continuously made.
· Examples: oil, cotton, sugar, coffee
· This model helps reduce the number of electronic transactions, share inventory levels, and engage in collaborative planning is key to anticipate any fluctuations in demand.
What type is continuous flow model
Efficiency model
The flexible model
· Good for when unexpected demands are needed
· There are high demand peaks and low demand bottoms
· They must be flexible
· They do this in four ways
¨ 1. Extra capacity of critical resources, rapid response capacity, technical strengths in process and product engineering and a process flow that can be quickly arranged.
§ The Custom Configured Model
· Provides custom configurations particularly during assembly and production.
· A blend of the continuous flow and agile models
v Potential Disruptions for Supply Chain
T/F is the flexible model is a efficiency model
False
The Agile Model
· This model is best for businesses that trade in specialty order
· It’s made to be flexible to producing large amounts to very little amounts
T/F the Agile Model is responsiveness
True
The Custom Configured Model
· Provides custom configurations particularly during assembly and production.
· A blend of the continuous flow and agile models
What type is the custom configured model?
responsiveness
What is KPI
Key performance indicators in the Supply chain
Examples of KPI
Operational efficiency gains
Operational speed and agility
Cost savings
Business performance gain
Who said that people who don’t support the clients at the bank are more likely to get laid off?
Tommy McBride
T/F, did Tommy Mcbride say this, wealth management is about RELATIONSHIPS not TRANSACTION
True
What are the big 4 accounting firms according to Ryan Pratt?
PWC
Ernesto Young
Deloitte
KPMG
Who said this “be flexible, achieving goals requires sacrifices, be humble, have faith, and show gratitude
Ryan Pratt
Who said to Lean into your faith?
Michelle Jones
Michelle Jones main points
Lean into your faith
Try everything to find what you like and do not like
Read everything
Practice working on soft skills and interviews
Get to know your professor
Look put together
What big employer did Jay Voncannon works for?
KOCH
Jay Voncannon ledership qualities
be principled
be a servant
know what you don’t know
be humble
respect others
challenge and always welcome challenges
Make effective decisions - act like a owner
Jay Voncannon points
Be curious
Network (being involved)
Home your technical skills
Teach yourself
seek mentors
learn how to lead
take risk
Embrace change
LEAD
Assembly line process
Makes a product or service at the lowest cost with the least amount of customization and variety
automation
anything that helps someone do a task faster, easier, or with less effort
batch process
makes a product or service at increased volumes than a job shop with less variety and customization at a Lower cost
buy decision
The activity of purchasing a product or service from a supplier or the market
capacity planning
the activity used to ensure that enough production capability is ready to meet customer demand
centralized inventory
holding the products at a centralized distribution center
decentralized inventory
the holding of products at the store level and using the distribution center to replenish what has been sold at the store
decoupling demand
the ability to make a product ahead of customer demand and inventory the product unit it is needed
demand planning
the activity that focuses on getting the customer to buy the service when the business would like them to
DMAIC
Define, measure, analyze, improve, and control; the basis of the SIX sigma methodology
finished goods
items that are sellable to the customer
hybrid process
the combination of job shop, batch, and assembly line prices to provide low prices and high customization
inspection
the detection of a defect or problem in a product or service after it has been produced
inventory
the goods that a company makes and buys to be able to provide a good or service
job shop process
the process that provides the highest levels of customization
Lean
the identification of waste anywhere in a process and removing it
make decision
the production of a good or providing of a service by a business
operations management
organizing the processes that turns inputs, such as labor, raw materials, purchased goods, and capital into products or services that a business can sell
outsiurcing
another name for buying
prevention
the attempt to reduce the likelihood a problem occuring before a product or service is started
Productivity
a ratio of how much time, energy, materials, and labor needed to produce a product or provide a service
products
goods that can be physically toched and inventoried
quality
the meeting or exceeding of customer expectations
raw materials
the basic elements that a businees buys for their products or services
services
something that is intangible and cannot be touched or put on a shelf
Six sigma
a methodology designed to reduce the variation in a process so that it is consistent and does not deviate from the expected outcome
Work-in-process (WIP)
items that a business has started to process but are not yet able to be sold
ANAR
a sales qualification method that stands for authority, needs, afford, and receptive
buyers
the individuals responsible for making an organizational purchase
derived demand
the secondary demand for labor, raw materials, buildings ect. that is originated from the direct demand for goods
direct demand
the amount of product or service consumers will want to acquire
influence
having the ability to personally affect the actions, decisions, opinions, or thinking of others, as defined by the center for creative leadership
lead
an unqualified contact or business who might eventually become a buyer
personal sales
the assessment and presentation by a business’ sales force with the goal of completing a slae and building customer relationships
prospect
an individual who agrees to consider the soluction the sales person represents
prospecting
the process of locating potential buyers for a product or service
qualify
to judge whether the products or services the salesperson represents would be a good fit for the lead
sales funnel
the representation of the journey potential buyers will go through in their journey towards a sale
salespeople
individuals representing a company in charge of completing a sale and supporting byers
sale process
a consistent series of steps taken to provide value and close a sale; that is turn a prospect into a customer
UDEA
a simple yet effective framework that aligns values, experience, and talent to achieve breakthrough results that stands for understanding, digging deep, evidence, and agreement
unique value
the statement that defines how a company provides value un a unique or different eay that competitors do not
value
the perceived usefulness, importance, or worth of an offering, through the solutions they present
Value proposition
a form of communication that addresses what a compact does in terms of the buyers value by explaining and describing how business, or a person, will address their buyers goals and challenges
ad
an announcement or message done in a public medium
advertising campaign
a group of ads aligned to meet a goal
brand
defined as any name, symbol, term, design, etc. that identifies the manufacturer of a product or service
creative idea
the central theme of an advertising campaign
differentiation
the selection of what benefits our target market finds valuable
differentation
the selection of what benefits our target market finds valuable
diversification strategy
focuses on targeting a new market with a new product
homogeneous
the characteristic that individuals within a segment share such as similar preferences, demographics, or needs between them
loyalty
consists of the positive feelings associated with the offer, such as happiness and an emotional connection, as well as the commitment that accompanies such feelings
macroenvironment
consists of all the larger societal forces that impact the microenvironment
MASDA
criteria to determine whether the identified segments have been effectively identified and are relevant to the business; it stands for measurable, accessible, substantial, differentiable, actionable
market
consists of current and potential customers for a product or service
market development strategy
guides business growth by taking what it already offers to a new target market to generate sales
market penetration strategy
focuses on achieving growth by increasing the sales of a current products in a current market
marketing
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large
marketing environment
the forces outside marketing that have an impact on marketing ability to build and maintain profitable relationships with target customers; the marketing environment is further divided into macro and micro environments
marketing lead generation
creating opportunities to find potential customers and capture their information so the business can follow up with them to eventually active a sale
marketing mix
the tools available that provide a roadmap to execute our strategy and achieve the response we desire from a target amrket
Note
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