AD212 American Business and Management

Sheridan, "Managing the Value Chain for Growth"

Inventory control seems rather basic... but it isn't (or at least it doesn't have to be). How can it be used as a competitive weapon? (Give this some serious thought. Hint: Wal-Mart does inventory extremely effectively, to the point of providing the company a competitive advantage.)

What is "quality"? (Not simple!) What is Total Quality Management (TQM)? (Have a look back to p.200, where TQM is first presented in the text.) What can it accomplish for a company? Why is TQM so difficult to implement?

The terms "efficiency" and "effectiveness" crop up several times in the readings. What do they mean in the context of this material? Which is more important, and why?

What is the "Value Chain" and how must it be managed to achieve quality goods and services? Corollary: What makes Just-In-Time delivery so important and so difficult to achieve?