Ethical Sourcing

• “Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct.”

  ~ Wikipedia on Ethics

• “In business, the term word sourcing refers to a number of procurement practices, aimed at finding, evaluating and engaging suppliers of goods and services”

  ~ Wikipedia on sourcing

HRM

“Human resource management (HRM, or simply HR) is the management of an organization's workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws.”

~ Wikipedia on Human resource management

Week 35

• w:Employer branding Employer brand denotes an organisation's reputation as an employer. The term was first used in the early 1990s, and has since become widely adopted by the global management community.Minchington (2005) defines employer brand as "the image of your organisation as a 'great place to work'". Employer branding is concerned with enhancing your company's employer brand. ( Wikipedia )

• w:Recruitment, w:fi:Rekrytointi, refers to the process of attracting, screening, selecting, and onboarding a qualified person for a job. At the strategic level it may involve the development of an employer brand which includes an 'employee offering'. ( Wikipedia )

• w:Training and development is the field which is concerned with organizational activity aimed at bettering the performance of individuals and groups in organizational settings. It has been known by several names, including human resource development, and learning and development. ( Wikipedia )

• A performance appraisal, w:fi:Kehityskeskustelu, (PA), performance review, performance evaluation, (career) development discussion, or employee appraisal Often also called employee performance appraisal, employee performance review, etc. is a method by which the job performance of an employee is evaluated. Performance appraisals are a part of career development and consist of regular reviews of employee performance within w:organizations. ( Wikipedia )

• Remuneration is the compensation that one receives in exchange for the work or services performed. Typically, this consists of monetary rewards, also referred to as wage or salary. A number of complementary benefits, however, are increasingly popular remuneration mechanisms. ( Wikipedia )

• Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a third-party service provider.

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SCM

“Supply chain management (SCM) is the management of an interconnected or interlinked between network, channel and node businesses involved in the provision of product and service packages required by the end customers in a supply chain.”

~ Wikipedia on Supply chain management

“Toimitusketjun hallinta (Supply Chain Management, SCM) tarkoittaa tavaroiden toimituksen ja palveluketjun optimointia. Kaikkien toimitusketjun osapuolien; toimittajien, jakelijoiden, alihankkijoiden ym. liikekumppaneiden yhdistämistä ja koko ketjun tehokasta hallinnointia. Tavoitteena on lisätä kaikkien jäsenten välistä kommunikointia ja siten alentaa kustannuksia, lisätä myyntiä ja tehostaa asiakaspalvelua. ”

~ Suomenkielinen Wikipedia on Toimitusketjujen ja logistiikan hallintajärjestelmä

Week 36

• w:Raw material extraction and supply

• Component w:manufacturers

• w:final product manufacturers

• w:reverse logistics is also needed ( already discussed in Logistics )

• Value chain management capability refers to an organisation’s capacity to manage the internationally dispersed activities and partners that are part of its value chain. ( Wikipedia )

• Value chain is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market. ( Wikipedia )

• w:International logistics

4 strategic decisions

1. What w:modes of transport to use ?
2. What carriers in each mode will the use ?
3. Own w:fleet or hire outsiders ?
4. Will the company manage transportation operations or hire a 3rd party ?

• w:Just in time (business) (JIT) is a production strategy that strives to improve a business return on investment by reducing in-process inventory and associated carrying costs. ( Wikipedia )

• Fleet vehicles are groups of motor vehicles owned or leased by a business or government agency, rather than by an individual or family. Typical examples are vehicles operated by car rental companies, taxicab companies, public utilities, public bus companies, and police departments. In addition, many businesses purchase or lease fleet vehicles to deliver goods to customers, or for sales representatives to travel to clients. ( Wikipedia )

• Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. ( Wikipedia )