Guest Speaker - Barrett Crane, HP, LFM '96. Barrett will speak about application of supply chain models to improve and optimize HP supply chains. In preparation you will have a computer exercise that utilizes a student-version of a tool used at HP; the purpose of the exercise will be to develop intuition for optimal placement of inventories in a supply chain.
Designing and Managing the Supply Chain 3rd edition.zip
Supply chain management has come into unprecedented attention in the past year as the COVID-19 pandemic caused major disruptions in the smooth operations and delivery of goods that many have come to expect. Continuing shortages of parts, such as microchips in the automotive industry, and major disruptions to delivery caused by the Ever Given stuck in the Suez Canal or extreme weather in Texas have continued to keep supply chain issues in the spotlight.
Designing and Managing the Supply Chain, first published in 1999, grew out of a number of supply chain management courses and executive education programs we taught at Northwestern University, as well as numerous consulting projects and supply chain decision-support systems we developed at LogicTools, a company we founded in 1995, which became part of IBM in 2009. The book was the first comprehensive business text book that covered the topics that were required to understand how to operate a modern supply chain and it won awards and critical acclaim.
The development of this field has continued steadily and we have been teaching and developing decision support tools in tandem. This led to the release of two subsequent editions, in 2002 and 2007, where we continued to add new approaches, models, and techniques and, in particular, introduced and emphasized frameworks for supply chain integration.
As interest in supply chain management increased both in industry and academia, many businesses have adopted strategies such as just-in-time, lean manufacturing, offshoring, and frequent deliveries to retail outlets. These much-touted strategies may have allowed companies to cut cost but dramatically increased supply chain risk. This was demonstrated in a powerful way during events such as the global financial turmoil in 2008, the 2011 tsunami in Japan and flood in Thailand and later during the world-wide COVID-19 pandemic in 2020.
Finally, we have maintained and expanded on the strength of previous content, including the availability of important case studies. Existing chapters have been revised to introduce new concepts such as the link between customer value and supply chain strategies; business analytics and smart pricing; and analysis of how new technologies such as IoT, Blockchain provide opportunities for improving supply chain processes.
Chapter 1: IntroductionChapter 2: Inventory Management and Risk PoolingChapter 3: Network planningChapter 4: Supply contractsChapter 5: The Value of informationChapter 6: Supply Chain integrationChapter 7: Distribution strategiesChapter 8: Strategic alliancesChapter 9: Procurement and Outsourcing StrategiesChapter 10: Global Logistics and Risk ManagementChapter 11: Coordinated product and supply chain designChapter 12: Customer ValueChapter 13: Smart PricingChapter 14: Information Technology and Business ProcessesChapter 15: Technology standardsAppendix A: Computerized Beer GameAppendix B: Risk Pool GameAppendix C: Supply Contract SpreadsheetAppendix D: Bidding Game
David has served at Massachusetts Institute of Technology (MIT) as Professor of Engineering Systems for the last 16 years. Prior to MIT, David held faculty positions at Northwestern University and Columbia University. He has published widely in professional journals on both theory and practice aspects of supply chain and revenue management.
This chapter introduces global supply chain and operations management. The underlying issues related to the transformation process(es) and value creation are analyzed. The terms operations, supply chains, operations management, and supply chain management are defined. We introduce major paradigms of supply chain and operations management: cost-efficiency, resilience, and sustainability. Subsequently, typical decisions made in the scope of supply chain and operations management are systematically rolled out. Practical and relevant objectives for measuring supply chain and operations performance are discussed. Finally, the question of which qualifications a future supply chain and operations manager should obtain is addressed and discussed, along with possible career paths in the field.
Like no other text on the subject, Supply Chain Management: A Global Perspective provides a balanced and integrated perspective of both the foundational principles and pragmatic, business-oriented functions of SCM. Highlighting the holistic and interconnected nature of SCM, this comprehensive volume addresses supply chain strategy, design, planning, controlling, management and more. The text features numerous real-world business examples that illustrate SCM best practices while helping students understand the complexities of SCM decision making.
The supply chainmanagement (SCM) profession has continued to change and evolve to fitthe needs of the growing global supply chain. With the supply chaincovering a broad range of disciplines, the definition of what is asupply chain can be unclear. Often times SCM can be confused with theterm logistics management. CSCMP and the board of directors, comprisedof industry experts, created official definitions for the followingterms.
Since 1963, the Council of Supply Chain Management Professionals (CSCMP) has been providing networking, career development, and educational opportunities to the logistics and supply chain management community.
There will also be a course project where the students will form teams and be able to apply their theoretical and practical knowledge towards a specific problem / issue within the supply chain domain (e.g.)demand-supply matching, flow coordination, sharing of supply chain information, collaborative planning, transportation lead time reduction, supply chain risk mitigation, logistics synchronization, supply chain contracting, etc..
Students are encouraged to exercise creative and innovative thinking in order to: propose a solution addressing a specific supply chain problem; identify size of the market; analyze the costs and benefits; and develop a business and revenue model for the proposed solution.
Learning outcomesThis course aims to provide students with a solid understanding of the various strategies, structures, processes, and performance dimensions related to supply chain management (SCM). It will cover key concepts, models, and mechanisms developed for coordinating demand and supply networks. The objective of the course is to develop skills in analyzing complex supply chain systems and applying this knowledge in the course project. Each student is expected to form a personal view of the theory of SCM; critically assess qualitative & quantitative supply chain models; exercise his/her knowledge in in an innovative manner through the development of a solution, addressing a critical issue(s) in supply chain management.
In commerce, supply chain management (SCM) deals with a system of procurement (purchasing raw materials/components), operations management (ensuring the production of high-quality products at high speed with good flexibility and low production cost), logistics and marketing channels so that the raw materials can be converted into a finished product and delivered to the end customer.[2][3] A more narrow definition of the supply chain management is the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally".[4][5]This can include the movement and storage of raw materials, work-in-process inventory, finished goods, and end to end order fulfilment from the point of origin to the point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain.[6]
Although it has the same goals as supply chain engineering, supply chain management is focused on a more traditional management and business based approach, whereas supply chain engineering is focused on a mathematical model based one.[12]
Supply chain management, techniques with the aim of coordinating all parts of SC, from supplying raw materials to delivering and/or resumption of products, tries to minimize total costs with respect to existing conflicts among the chain partners. An example of these conflicts is the interrelation between the sale department desiring to have higher inventory levels to fulfill demands and the warehouse for which lower inventories are desired to reduce holding costs.[13]
In 1982, Keith Oliver, a consultant at Booz Allen Hamilton, introduced the term "supply chain management" to the public domain in an interview for the Financial Times.[14] In 1983 WirtschaftsWoche in Germany published for the first time the results of an implemented and so called "Supply Chain Management project", led by Wolfgang Partsch.[15] 2ff7e9595c
Comments