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...By examining what comes into your factories, you may learn something about your suppliers and their processes as well. Consider the figure below. Let's say you expect the product to arrive with a normal distribution of specification tolerances around some mean value (see the red distribution line in the figure below). If instead you are receiving a bimodal distribution (shown with the green lines), something is happening to the units that most closely match the desired specification. For example, the supplier's manufacturing process may be out of control, or your supplier might be selling the lot(s) closest to the expected mean to one of your competitors! Understanding the cause of an unexpected supply distribution may lead to process improvements (or possibly new agreements with suppliers!).
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SCM103 Specifications
Rating:
(1021 ratings)Total Reading Time: Approx. 1 hour (for average readers)
Word Count: Approx. 8,400 words
Author: Dr. Warren H. Hausman
Professor of Management Science & Engineering, Stanford University
Certificate: Counts toward Fundamentals of Supply Chain Management
Datasheet: 
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Contents
- Introduction to Responsive Strategies
- Accurate Response and Risk-Based Production Planning
- Build-to-Order (BTO), or Mass Customization
- Pre-positioning and Fast NPI
- Component Commonality
- Hedging Demand Uncertainty: The Newsvendor Model
- Hedging Uncertainty, Continued
- Quantifying the Benefits of Supply Flexibility
- Supply Uncertainty
- Avoiding Supply Uncertainty
- Reducing and Hedging Supply Uncertainty
- Demand Management
- Risk Sharing
- Risk Sharing, Continued
- Risk Sharing, Continued (2)
- The Role of Software
- Conclusions
- Test Your Knowledge
- Feedback