Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
12th Edition
ISBN: 9780134741062
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
Question
Book Icon
Chapter 12, Problem 1DQ
Summary Introduction

Interpretation: The methodology of improving the performance of the supply chain while reducing its costs is to be discussed.

Concept Introduction: Every organization needs timely and quality inputs in the form of materials, services, knowledge and information, etc. The organizations providing such inputs are termed as suppliers. This entire network of suppliers with the logistics is called the supply chain. The objective of the supply chain management is to make available to the organization the required/specified inputs at the needed time.

Expert Solution & Answer
Check Mark

Explanation of Solution

The performance of the supply chain means timely inputs at optimum cost.

The cost consists of the input costs, transportation costs, administrative costs, holding costs (of money and space). Thus all such costs need to be controlled and continually reduced while ensuring the output of the supply chain, i.e., inputs of the right quality in the right quantity and preferably just in time.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
1) View the video Service Processing at BuyCostumes (10.41 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapter 3) after watching this video. (viddler.com/embed/a6b7054c)   Note: As a rough guideline, please try to keep the written submission to one or two paragraphs.   2) Orkhon Foods makes hand-held pies (among other products). The firm’s weekly sales of hand-held pies over the past seven weeks are given in the table. The firm’s operations manager, Amarjargal, wants to forecast sales for week 8.   Weeks Sales of hand-held pies(000s) 1 19 2 18 3 17 4 20 5 18 6 22 7 20 Forecast the week 8 sales using the following approaches:   a) Naïve approach b) 5-month moving average c) 3-month weighted moving average using the following weights: 0.50 for week 7, 0.30 for week 6, and 0.20 for week 5. d) Exponential smoothing using a smoothing constant of 0.30, assume a week 2…
What area of emotional intelligence refers to the ability to manage your emotions, particularly in stressful situations, and maintain a positive outlook despite setbacks?   relationship management   self awareness   social awareness   self management
What area of emotional intelligence refers to the ability to manage your emotions, particularly in stressful situations, and maintain a positive outlook despite setbacks?   relationship management   self awareness   social awareness   self management
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
  • Text book image
    Contemporary Marketing
    Marketing
    ISBN:9780357033777
    Author:Louis E. Boone, David L. Kurtz
    Publisher:Cengage Learning
    Text book image
    MKTG 12:STUDENT ED.-TEXT
    Marketing
    ISBN:9781337407595
    Author:Lamb
    Publisher:Cengage
    Text book image
    Purchasing and Supply Chain Management
    Operations Management
    ISBN:9781285869681
    Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
    Publisher:Cengage Learning
  • Text book image
    Marketing
    Marketing
    ISBN:9780357033791
    Author:Pride, William M
    Publisher:South Western Educational Publishing
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Text book image
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:9781337407595
Author:Lamb
Publisher:Cengage
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing