Term
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Definition
| Develop policies and strategies related to location, capacity, products and process, supply chain, research and capital investment. |
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Term
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Definition
| develops plans that match production to demand. |
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Term
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Definition
| intermediate plans into weekly, daily, and hourly schedules. |
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Term
| Sales and Operation Planning |
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Definition
| Balances resources and forecasted demand, and aligns the organization's competing demands, from supply chain to final customer, while linking strategic planning with operations over all planning horizons. |
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Term
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Definition
An approach to determine the quantity and timing of a production for the intermediate future (usually 3-18 months ahead).
Looks at production in the aggregate (a family of products), not as a product-by-product breakdown. |
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Term
1. A logical unit for measuring sales and output.
2. A forecast of demand for a reasonable intermediate planning period in these aggregate terms.
3. A method for determining the relevant costs
4. A model that combines forecasts and costs so that scheduling decisions can be made for the planning period. |
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Definition
| 4 things needed for aggregate planning. |
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Term
| Objective of aggregate planning |
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Definition
| to meet forecasted demand while minimizing cost over the planning period. |
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Term
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Definition
| The process of breaking an aggregate plant into greater detail. |
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Term
| Master Production Schedule |
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Definition
| A timetable that specifies what is to be made and when. |
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Term
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Definition
| A planning strategy that sets production equal to forecast demand |
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Term
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Definition
| Maintaining a constant output rate, production rate, or workforce level over the planning horizon. |
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Term
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Definition
| A planning strategy that uses two or more controllable variables to set a feasible productions plan. |
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Term
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Definition
| Aggregate planning techiniques that work with a few variables at a time to allow planners to compare projected demand with existing capacity. |
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Term
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Definition
| displays visually how the forecast deviates from the average requirements. |
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Term
| Transportation Method of Linear Programming |
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Definition
| A way of solving for the optimal solution to an aggregate planning problem. |
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Term
| Revenue (or Yield) Management |
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Definition
| Capacity decisions that determine the allocation or resources to maximize revenue. |
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