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Value Chain

Value Chain. Sequence of activities in a business that transforms resources into goods and services that customers want Value is added as the product progresses through the company Primary value chain functions directly create or provide good or service

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Value Chain

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  1. Value Chain • Sequence of activities in a business that transforms resources into goods and services that customers want • Value is added as the product progresses through the company • Primary value chain functions directly create or provide good or service • Secondary value chain functions exist to support primary functions

  2. Primary Functions • Marketing – discover customer needs • Product development – design products to meet customer needs • Operations (Production) – make quality products efficiently • Sales – convince customers to buy • Distribution – get product to customers • Customer relationship management – make sure customers are satisfied

  3. Secondary Functions • Human resources management – recruitment and selection, training and development, performance appraisal and feedback, pay and benefits, labor relations • Accounting – 6 step accounting cycle • Finance – raising capital to invest in assets • Information technology (IT) – hardware and software used to support all other primary and secondary functions in firm

  4. Chapter 9: Operations Management • Build and deliver products/services in response to customer demands at a scheduled delivery time • Provide an acceptable level of quality • Produce goods/services at lowest cost possible

  5. Components of Operations Management • Facility Location • Facility Layout • Materials Requirement Planning • Purchasing • Inventory Control • Quality Control

  6. Changes in Operations Management • Computers • Computer-aided design (3D) • Computer-aided manufacturing • Computer-integrated manufacturing • Flexible manufacturing • Ford Plant in Brazil • Lean Manufacturing • Mass Customization • Dell Factory Tour

  7. Is Manufacturing Dead in U.S.? • Globalization has led to outsourcing of many manufacturing jobs • Political ads currently running feature loss of U.S. manufacturing jobs • Video on Ball Metal Beverage Container • Video link on my homepage • Write-up pages 252-253 text

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