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8 - Sales and Operations Planning
Chapter 8
12
Management
Undergraduate 3
05/03/2014

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Cards

Term
Aggregate Operations Plan
Definition
A plan for labor and production for the intermediate term with the objective to minimize the cost of resources needed to meet the demand.
Term
Intermediate-Range Planning
Definition
3-18 months.
Term
Inventory on Hand
Definition
Inventory carried over from a previous period.
Term
Long-Range Planning
Definition
1 year or more.
Term
Mixed Strategy
Definition
A more complex strategy that combines options for meeting demand.
Term
Production Planning Strategies
Definition
Plans for meeting demand that involve trade-offs in the number of workers employed, work hours, inventory, and shortages.
Term
Production Rate
Definition
The number of units completed per unit of time.
Term
Pure Strategy
Definition
A simple strategy that uses just one option, such as hiring and firing workers, for meeting demand.
Term
Sales and Operations Planning
Definition
The process that companies use to keep demand nd supply in balance and to coordinate distribution, marketing, and financial plans.
Term
Short-Range Planning
Definition
A day to six months.
Term
Workforce Level
Definition
The number of workers needed in a period.
Term
Yield Management
Definition
Given limited capacity, the process of allocating it to customers at the right price and time to maximize profit.
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