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UT Knoxville BUAD 331 - BA 331 Chapter 4-2

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Slide 1Slide 2Planning Horizon and UncertaintyLead Time Gap ConceptLead Time GapDemand Penetration Point and InventoryBalancing Supply and DemandVelocity & Visibility Drive ResponsivenessSlide 9Business Administration 331Supply Chain ManagementChapter 4Dr. John E. BellAssociate Professor of Supply Chain Management 343 Stokely Management [email protected] supply chain implications of time.What can you predict most accurately?2Discussion QuestionA. Where you will be next week at this timeB. Where you will be next month at this timeC. Where you will be next year at this timePlanning Horizon and Uncertainty3•The time it takes to procure, make and deliver the finished product to a customer is often longer than the time the customer is prepared to wait.Lead Time Gap = SC Lead Time - Customer’s Order Cycle Time–Supply chain lead time: procurement, manufacturing and delivery of order–Customer’s order cycle time: time that the customer is prepared to wait on order•In conventional organizations, the only way to close the lead time gap is to attempt to forecast the market’s requirements and carry just-in-case inventory.•Ideally, a reduction in the gap can be achieved by shortening the SC lead time (pipeline time) while simultaneously trying to gain earlier warning of requirements through improved visibility of demand.Lead Time Gap ConceptLead Time Gap5Demand Penetration Point and Inventory 6Balancing Supply and Demand7Velocity & Visibility Drive Responsiveness8What are the implications of time for the Grizzly Fly Fishing Shop in terms of cost, inventory and customer service? What are the tradeoffs between ordering products months in advance and storing them vs. using a responsive supply chain and waiting to order until only a week before expected demand?9Discussion


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UT Knoxville BUAD 331 - BA 331 Chapter 4-2

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