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Value Chain

Value Chain

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Value Chain

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Presentation Transcript

  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