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Necessity and objectives of SCM?
Objective of a Supply Chain • Maximize overall value created • Supply chain value: difference between what the final product is worth to the customer and the effort the supply chain expends in filling the customer's request • Value is correlated to supply chain profitability (difference between revenue generated from the customer and the overall cost across the supply chain) • Sources of supply chain revenue: the customer • Sources of supply chain cost: flows of information, products, or funds between stages of the supply chain • Supply chain management is the management of flows between and among supply chain stages to maximize total supply chain profitability
What is the Difference in supply chain and supply chain management?
Supply chain is the set of activities and resources that moves products from suppliers to customers. Supply chain management is the collaboration of firms to leverage strategic positioning and improve operating efficiency bringing value to customers.
What is the difference between a quality and a value?
Quality is how good and strong, and sturty and worthwhile it is, while Value is the performance of the product relative to its cost.
Diffenrences between supply management and supply chain management?
Supply management are the methods of modern corporate or institutional buying. Supply chain management is the management of the flow of goods, including raw materials, inventory and finished goods.
What is the difference between supply chain management and value chain management?
The ultimate goals are strikingly similar with a few different means to achieve similar ends. Supply chain management focuses on the ways a company obtains supplies needed in order to make and deliver a product or service to the customer maximizing both customer value and competitive edge with basic components using 5 elements- 1. plan, 2. source 3. make, 4. deliver, 5. return Value chain management focuses on integrating time and responsiveness with the goal of maximizing resources and minimizing waste with the goal of minimizing waste, particularly by using ideas such as "Just-In-Time". (sources-referencesforbusines.com&CIO.com) (Clear as mud, right?)
What is value chain analysis in management accounting?
Value chain analysis is the process to determine which process of production is increasing the value of product and which is not so that the product manufacturing cost can be reduced by eliminating that process from the production chain.
Necessity and objectives of SCM?
Objective of a Supply Chain • Maximize overall value created • Supply chain value: difference between what the final product is worth to the customer and the effort the supply chain expends in filling the customer's request • Value is correlated to supply chain profitability (difference between revenue generated from the customer and the overall cost across the supply chain) • Sources of supply chain revenue: the customer • Sources of supply chain cost: flows of information, products, or funds between stages of the supply chain • Supply chain management is the management of flows between and among supply chain stages to maximize total supply chain profitability
What is the difference between error and uncertainty in the context of data analysis?
Error in data analysis refers to the difference between the measured value and the true value, while uncertainty is the lack of precision or confidence in the measurement. Error is a specific mistake in the data, while uncertainty is the range of possible values that the true value could fall within.
Distribution channel in asset management companies?
If you are doing Porter's value chain analysis on an asset management company (Porter 1983), the distribution channel will be integrative HR policies and the synergistic value chain linkages between functional deliverables and employee KPIs. This is because value chain analysis is best suited to manufacturing companies, rather than service organisations like asset management companies.
What is the relationship between value chain and competitor analysis?
A value chain of each competitor will certainly go ahead and help one understand the gaps which each competitor has in the respective chain. The company who is doing the profiling can then target these gaps as opportunity areas and build on its competitive advantage ..
What can be gleaned from value chain analysis?
Value chain analysis examines a business unit and examines how products pass through the chain, in order from inbound logistics to service, market & sales and other elements. The information provided shows where in the chain products are slowed or altered from the intended design.
Different between value analysis and value engineering?
There is no difference between value analysis and value engineering. Both are names applied to the same formal analytical process developed at General Electric in 1947 by Larry Miles. It was originally called value analysis, and has come to be called by several names as time has passed (value analysis, value engineering, value management, the value methodology). The term "Value Engineering" is also often mis-used to refer to any exercise to reduce cost. Don Stafford, VP-Education, SAVE International
What is value chain analysis?
The entire description can be found at:http://www.netmba.com/strategy/value-chain/ The APA reference for this site is: Net MBA, (2007). The value chain. Retrieved December 20, 2007, from Net MBA Web site: http://www.netmba.com/strategy/value-chain/
What includes support value activities and primary value activities and is used to determine how to create the greatest possible value for customers?
The value chain analysis
What is the significance of a value chain?
A value chain is the series of activities that a business performs in order to deliver a product or service to the marketplace. The value chain method is significant due to it being a powerful tool for analysis and strategic planning for the business model.
What the difference between actual value and earned value?
The difference between the Actual Value & Earned Value is the Project Cost Variance
What is the difference between the place value and face value of 9 in 309812?
the DIFFERENCE between the place value and the face value is 991
