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| Cartes-fiches | 15 |
|---|---|
| Langue | English |
| Catégorie | Gestion d'entreprise |
| Niveau | Université |
| Crée / Actualisé | 28.12.2020 / 28.12.2020 |
| Lien de web |
https://card2brain.ch/box/20201228_principles_of_management_lecture_3_value_chain_management
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What is the value chain?
The coordinated series or sequence of functional activities necessary to transform inputs such as new product concepts, raw materials, component parts, or professional skills into the finished goods or services customers value and want to buy
What is value chain management?
The development of a set of functional-level strategies that support a company’s business-level strategy and strengthen its competitive advantage
Which functional activities of value chain management are within the "input stage"?
- Product development function
- Marketing function
Inputs: new product ideas, marketing research, component parts
Which functional activities of value chain management are within the "conversion stage"?
- Materials management function
- Production function
Changed into (conversion): People's ability and knowledge, machines, computers, functional skills
Which functional activities of value chain management are within the "output stage"?
- Sales function
- Customer service function
Outputs: goods and services
How do you create competitive advantage along the value chain?
- Improving quality
- Improving efficiency
- Improving innovation
- Improving responsiveness to customers
Result in competitive advantage from low costs and differentiation.
How do you improve responsiveness to customers?
Successful companies know what their customers want...
- Customer Relationship Management (CRM)
Not just about sales and marketing. Use IT to develop an ongoing relationship with customers to maximize the value an organization can deliver. Access to market intelligence!
What do customers typically want?
- Lower price
- High-quality
- Quick service and good after- sales service
- Products with many useful / valuable features
- Products that are tailored to their unique needs
How do you improve quality?
High-quality shows in design, features, reliability and after-sales support...
Impact of increased quality on organizational performance: Two dimensions
- Increased reliability leads to higher prices and higher profits
- Increased productivity leads to lower prices and higher profits
Implementing Total Quality Management (TQM) or Six Sigma
What are the steps to a successful Total Quality Management (TQM) implementation?
A core definition of total quality management (TQM) describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.
Build organizational commitment to quality.
Focus on the customer.
Find ways to measure quality.
Set goals and create incentives.
Solicit input from employees.
Identify defects and trace them to their source.
Introduce just-in-time inventory systems.
Work closely with suppliers.
Design for ease of production.
Break down barriers between functions.
What is Six Sigma?
A technique used to improve quality by systematically improving how value-chain activities are performed and then using statistical methods to measure the improvement
How do you improve efficiency?
The fewer input resources required for a given output...
- Facility layouts: Designing the machine- worker interface to increase operating system efficiency
- Product layout
- Process layout
- Fixed-position layout
- Flexible manufacturing: The set of techniques that attempt to reduce the costs associated with the product assembly process or the way services are delivered to customers
- Aims to reduce time required to set up production equipment
- By redesigning the process, setup times and costs can be drastically reduced
- Able to produce many more varieties of a product than before in the same amount of time
- Just-in-Time inventory and efficiency: gets components to the assembly line just as they are needed to drive down costs
- Major cost savings can result from increasing inventory turnover and reducing inventory holding costs.
What is product layout (Facility layouts - improving efficiency)?
Machines are organized so that each operation is performed at work stations arranged in a fixed sequence. Example: Mass production (cars)
What is process layout (Facility layouts - improving efficiency)?
Self-contained work stations are not organized in a fixed sequence.
The product goes to whichever workstation is needed to perform the next operation to complete the product.
Example: Customised products (furniture)
What is fixed-position layout (Facility layouts - improving efficiency)?
The product stays in a fixed position and components produced at remote stations are brought to the product for to final assembly.
Example: Large structures (aircraft)
How do you improve innovation?
Radical versus incremental innovation
- Quantum product innovation
The development of new, often radically different, kinds of goods and services because of fundamental shifts in technology brought about by pioneering discoveries Incremental product innovation
The gradual improvement and refinement of existing products that occur over time as existing technologies are perfected
Strategies to promote innovation and speed-up product development
- Involve both customers and suppliers
- Establish cross-functional teams
- Establish a stage-gate development funnel
Stage-Gate Development Funnel
- Stage 1: Come up with as many project ideas as possible (e.g. 3M), Proposals evaluated at Gate 1.
- Stage 2: Cross-functional team drafts detailed product development plans. Plans are reviewed by management at Gate 2.
- Stage 3: Product development starts with accepted projects. Team members sign contract book.
