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Data Analysis and Processing Techniques

The document defines key terms related to supply chain management: Supply chain management encompasses planning, sourcing, procurement, conversion, logistics management, and coordination with partners to deliver goods to customers. Logistics refers to managing the flow of goods between origin and destination to meet customer needs. Six Sigma seeks to improve quality by identifying and removing defects through statistical methods. Total quality management aims to continuously improve quality of processes and products. Business process reengineering analyzes and designs workflows and processes within an organization. Operations management converts materials and labor into goods and services efficiently to maximize an organization's profit.

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Anupam Mishra
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9 views2 pages

Data Analysis and Processing Techniques

The document defines key terms related to supply chain management: Supply chain management encompasses planning, sourcing, procurement, conversion, logistics management, and coordination with partners to deliver goods to customers. Logistics refers to managing the flow of goods between origin and destination to meet customer needs. Six Sigma seeks to improve quality by identifying and removing defects through statistical methods. Total quality management aims to continuously improve quality of processes and products. Business process reengineering analyzes and designs workflows and processes within an organization. Operations management converts materials and labor into goods and services efficiently to maximize an organization's profit.

Uploaded by

Anupam Mishra
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Definitions:

Supply Chain:
The Council of Supply Chain Management Professionals (CSCMP) defines supply chain management as follows: Supply Chain Management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities. Importantly, it also includes coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers

Logistics:
Logistics is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations. Logistics involves the integration of information, transportation, inventory, warehousing, material handling, and packaging, and often security.

Six Sigma:
Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes. It uses a set of quality management methods, including statistical methods, and creates a special infrastructure of people within the organization ("Black Belts", "Green Belts", etc.) who are experts in these methods. A six sigma process is one in which 99.99966% of the products manufactured are statistically expected to be free of defects (3.4 defects per million).

TQM:
Total quality management or TQM is an integrative philosophy of management for continuously improving the quality of products and processes.

Business Process Reengineering:


Business process re-engineering is the analysis and design of workflows and processes within an organization. According to Davenport (1990) a business process is a set of logically related tasks performed to achieve a defined business outcome.

Operations Management: Definition of 'Operations Management'


Operations management refers to the administration of business practices to create the highest level of efficiency possible within an organization. Operations management is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.

Investopedia explains 'Operations Management'


Operations management teams design the method of conversion of inputs (materials, labor, proprietary information, etc.) into outputs (goods, services, value-added products, etc.) that is

most beneficial to the organization. Operations management teams attempt to balance costs with revenue to achieve the highest net operating profit possible.

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