In this chapter you will learn: What the main functions of money are and what makes something a good choice for money? How to explain the concept of fractionalreserve banking and the money multiplier? What role the central bank plays and what the Federal Reserve’s (Fed) dual mandate is?. | Global Operations and Supply Chain Management McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter nineteen Learning Objectives Understand the concept of supply chain management Recognize the relationship between design and supply chain management Describe the five global sourcing arrangements Appreciate the importance of added costs of global sourcing Understand the increasing role of electronic purchasing for global sourcing Understand the just-in-time (JIT) production system and potential problems with its implementation 19- Chapter Objectives Understand synchronous manufacturing and customization Comprehend the concept of Six Sigma systems and their application Explain the potential of global standardization of production processes and procedures, and identify impediments to standardization efforts Know the two general classes of activities in manufacturing systems, productive and supportive, that must be performed in all manufacturing systems 19- Supply Chain Management Process of coordinating and integrating the flow of materials, information, finances, and services within and among companies in the value chain from suppliers to the ultimate consumer 19- Lower Costs/Improved Products Desired results may be obtained through Improvement within existing operations Opening new operations finding outside sources for inputs Outsourcing Hiring others to perform some of the noncore activities and decision making in a company’s value chain, rather than having the company and its employees continue to perform those activities Combination of above 19- Global Supply Chain Management Involves total systems approach to managing flow of Materials Information Finances Services 19- Supply Chain Network: A Hypothetical Example of an American Laptop Computer Company 19- Design of Products and Services Design has fundamental relationship with type of inputs required Important . | Global Operations and Supply Chain Management McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter nineteen Learning Objectives Understand the concept of supply chain management Recognize the relationship between design and supply chain management Describe the five global sourcing arrangements Appreciate the importance of added costs of global sourcing Understand the increasing role of electronic purchasing for global sourcing Understand the just-in-time (JIT) production system and potential problems with its implementation 19- Chapter Objectives Understand synchronous manufacturing and customization Comprehend the concept of Six Sigma systems and their application Explain the potential of global standardization of production processes and procedures, and identify impediments to standardization efforts Know the two general classes of activities in manufacturing systems, productive and supportive, that must be
