Lessons Learned - Week 2

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New York University *

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002

Subject

Management

Date

May 6, 2024

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pdf

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2

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Lessons Learned – Week 2 – 04/11/2024 What topic was interesting in today’s discussion? Explain briefly. I explored several aspects: 1. Competitive and Supply Chain Strategies : It's crucial for a company's competitive strategy, which defines how it intends to meet customer needs, to be supported by its supply chain strategy. This includes decisions on procurement, manufacturing, distribution, and post-sale services. 2. Achieving Strategic Fit : Strategic fit is about aligning the supply chain capabilities with the competitive strategy to meet customer demands effectively. We discussed the importance of consistency between a company's competitive strategy and the capabilities specified by its supply chain strategy. 3. Steps to Achieving Strategic Fit : • Understanding the Customer and Supply Chain Uncertainty : This involves recognizing the uncertainties in customer demand and how the supply chain can address them. • Understanding Supply Chain Capabilities : Assessing how responsive and efficient the supply chain needs to be to meet customer demands and handle uncertainties. • Finding the Zone of Strategic Fit : Adjusting the supply chain's responsiveness and efficiency to align with customer expectations and business goals. 4. Supply Chain Drivers and Metrics : We covered how different drivers like facilities, inventory, transportation, information, sourcing, and pricing influence supply chain performance.
5. Role of Forecasting in a Supply Chain : Forecasting is critical for making informed decisions in supply chain management, such as production scheduling, inventory management, and workforce planning. 6. Forecasting Techniques : Different methods like moving averages, exponential smoothing, and regression analysis were discussed to understand how they help predict future demand based on historical data. Overall, the lecture highlighted the necessity of strategic fit within supply chain operations and the analytical approaches to forecasting that support supply chain decision-making. This discussion not only deepened our understanding of supply chain strategies but also equipped us with practical tools to apply in real-world scenarios. I Learned mainly about how to use Excel functions like moving average, exponential functions, holt, and regression functions and their applications in determining demand forecasting.
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