Supply Chain Management Chapter 10 - 999 Words

Supply Chain Management: Chapter 10 (p. 249): Questions: 1, 4, 5, 13 (1) What is the difference between supply chain management and demand management? According to Schroeder, Goldstein, Rungtusanatham (2013), supply chain management is the process that is used by a company to ensure that its supply channel that supplies and materials are processed through is moving and operating in an efficient and cost effective manner. However, demand management is when decisions made affect the amounts of one or more products that are a part of the supply chain. (4) How do lead times and forecast errors affect supply chain performance? Lead time is the time between the initiation and completion of a process. It affects supply chain performance because the longer the lead time the longer it will take for materials to move through the supply chain. Forecasting errors affect the supply chain because the calculations formulated in forecasting are not exact science, but it is only an approximation that can be almost on target or the figures can be way off target. Lead times and forecast errors can both cause the bullwhip effect which is when there is an increase in variability of orders received in the up side of the supply chain, which then affects the amount of inventories the upper end of the supply chain holds on to according to Schroeder, Goldstein, Rungtusanatham (2013). (5) Why is increased coordination needed to manage supply chains? Give three examples. IncreasedShow MoreRelatedOperation Managenent1504 Words   |  7 PagesChapter 1 – Introduction to Operations Management After completing this chapter, you should be able to: 1. Define the term operations management. 2. Identify the three major functional areas of organizations and describe how they interrelate. 3. 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