P370 102 Final Exam Study Guide Questions With Complete Solutions
aggregate production planning FORMAL definition - ️️a managerial statement of time-phased production rates, work-force levels, and inv management, which takes into account customer requirements and capacity limitations aggregate production planning BETTER definition - ️️mid-level process that converts forecasted demand into labor hours to make sure that we have the labor resources necessary to meet forecasted demand 2 things APP helps us do - ️️1. attain our goals 2. help us manage our resources 3 major operation planning activities - ️️1. strategic - long term 2. tactical - medium term, judgement and plans on how to utilize resources 3. operational - short term 5 components of nature of APP - ️️1. aggregate (combine resources such as classes of prod, labor, inputs, geo location, etc) 2. time horizon (usually year or less) 3. time buckets (months, week, sem) - division of horizons 4. rolling horizon (always planning ahead) 5. nature of business determines type of horizon/buckets 3 lower levels of planning - ️️1. master production scheduling (MPS) 2. material requirements planning (MRP) 3. shop floor scheduling
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