Term
| Aggregate Operations Plan |
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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. |
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Term
| Intermediate-Range Planning |
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Definition
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Term
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Definition
| Inventory carried over from a previous period. |
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Term
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Definition
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Term
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Definition
| A more complex strategy that combines options for meeting demand. |
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Term
| Production Planning Strategies |
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Definition
| Plans for meeting demand that involve trade-offs in the number of workers employed, work hours, inventory, and shortages. |
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Term
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Definition
| The number of units completed per unit of time. |
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Term
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Definition
| A simple strategy that uses just one option, such as hiring and firing workers, for meeting demand. |
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Term
| Sales and Operations Planning |
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Definition
| The process that companies use to keep demand nd supply in balance and to coordinate distribution, marketing, and financial plans. |
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Term
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Definition
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Term
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Definition
| The number of workers needed in a period. |
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Term
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Definition
| Given limited capacity, the process of allocating it to customers at the right price and time to maximize profit. |
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