Transaction costs and Information costs It is costly to bring buyers and sellers The costs associated with making exchange possible are transaction costs such as travel cost, negotiation cost, and property rights enforcement cost, and the cost of acquiring information. Transaction costs are costs of bringing buyers and sellers together. In real world markets-even those […]
Unit 2: Markets for Information Goods
Markets for Information Goods Technology changes but Economic laws do not. If you are struggling to comprehend what the Internet means for you and your business, you can learn a great deal from the advent of the telephone system a hundred years ago. But many of today’s managers are so focused on the trees of […]
Unit 1: Managerial Economics Basic
INFORMATION REVOLUTION VS. INDUSTRIAL REVOLUTION As e-commerce became all the rage in the late 1990s and as the Internet, World Wide Web, and other information technologies rapidly transformed the economic and social environment, many analysts, journalists, and scholars took the time to reflect upon the current transformations and breakthroughs and situate them in a broad, […]
Unit 11: Entrepreneurial Supply Chain
Chapter Covered -Introduction -Strategies Introduction Supply chain management means that management of chains of supplies for value addition. Almost all the firms try to make supply chains as a core competence to get a competitive edge. The firm is influenced by supply chain management policies on firm’s performance; the participants in the supply chain management […]
Unit 9: Planning demand and supply in supply chain
Course Covered -Characteristics and role of forecasting -Role of IT in forecasting -Role of aggregate planning with problems in supply chain -Role of IT in aggregate Planning -Inventory Planning with known and uncertain demand Characteristics and Role of Forecasting Role of Forecasting in Supply Chain Demand forecasts form the basis of all supply chain planning. […]
Unit 10: Supply Chain Globalization
What is Global Supply Chain? A global supply chain is made up of the interrelated organizations, resources, and processes that create and deliver products and services to end customers. In the instance of global supply chains, it is extended around the world Any company that uses parts and services from another factory overseas faces issues […]
Unit 7: Designing the Supply Chain Network
Topic Covered in Syllabus: Role of distribution in supply chain Factors influencing distribution network design Design options for a distribution network E-business and a distribution network Role of network design in supply chain Factors influencing network design decisions Framework for network design decisions Network optimization models The capacitated plant location model Gravity location model The […]
Unit 4: Co-ordination in a Supply Chain
Topic covered in the syllabus: Lack of supply chain coordination and the Bullwhip effect Effect of co-ordination on performance Obstacles to co-ordinate in a supply chain Managerial levers to achieve coordination Role of IT in coordination, forecasting, and Replenishment Lack of Supply Chain Coordination and Bullwhip Effect Supply chain coordination improves if all stages of […]
Unit 8: IT in a Supply Chain
Information is an important driver of supply chain performance. It is crucial for the performance of a supply chain because it provides the basis upon which supply chain managers make decisions. Information technology (IT) consists of the tools used to gain awareness of information, analyze this information and act on it to improve the performance […]