Practice Flashcards
What is SCM?
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All Flashcards in Topic 5.6
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5.6.15 cards
What is SCM?
Supply chain management — coordinating all activities from sourcing raw materials to delivering the final product.
Raw materials → customer
SCM links to: location, outsourcing, ___, quality management
Reshoring — bringing production back to home country after supply chain problems.
Reshoring
Local supply chains: ___ lead times, easier ___ control
Shorter; quality — plus lower transport costs.
Shorter + quality
Global supply chains: lower ___ but more ___
Costs; complexity and risk.
Costs vs risk
COVID exposed the risks of ___
Relying on distant suppliers — global supply chain disruptions halted production worldwide.
Distant/global supply chains
5.6.24 cards
Four elements of production planning?
Capacity planning, scheduling, stock control, quality planning.
Capacity, schedule, stock, quality
Production planning goal: right quantity, right time, minimum ___
Cost — balancing efficiency with meeting demand.
Cost
Capacity planning ensures ___
Production capacity matches demand — not too much (waste) or too little (missed sales).
Capacity = demand
Production planning links to: break-even, motivation, ___
Cash flow — stock levels directly affect how much cash is tied up.
Cash flow
Topic 5.6 study notes
Full notes & explanations for Production planning (HL only)
BM exam skills
Paper structures, command terms & tips
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