The Foundations of Supply Chain - Lecture 1.1

Supply chain is the quantitative yet street-smart mastery of optionality when facing variability and constraints related to the flow of physical goods. It encompasses sourcing, purchasing, production, transport, distribution, promotion, ... - but with a focus on nurturing and picking options, as opposed to the direct management of the underlying operations. We will see how the “quantitative” supply chain perspective, presented in this series, profoundly diverges from what is considered the mainstream supply chain theory.

References:

Inventory Management and Production Planning and Scheduling, Edward A. Silver, David F. Pyke, Rein Peterson
Fundamentals of supply chain theory, Lawrence V. Snyder, Zuo-Jun Max Shen

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0:00:00 - Introduction
0:00:54 - Observational definition
0:02:44 - The short definition
0:04:51 - Why and How
0:08:00 - Scope and non-scope
0:11:07 - Skin in the game + conflict of interest
0:14:53 - Mainstream supply chain theory
0:21:53 - Confusing jargon
0:25:42 - Nature of the challenge
0:37:57 - The method behind the madness
0:49:54 - In conclusion: two IYI pitfalls
0:54:02 - Questions from the audience

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