Aggregate Operations Plan | Translating annual and quarterly business plans into labor and production output plans for the intermediate term. The objective is to minimize the cost of resources required to meet demand.
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Capacity Requirements Planning | Allocation of production resource capacity to specific orders.
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Intermediate-Range | Activity that usually covers a period from 6 to 18 months with
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Planning | monthly or quarterly time increments.
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Inventory on Hand | Unused inventory carried from a previous period.
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Long-Range Planning | Activity typically done annually and focusing on a horizon of a year or more.
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Master Production Schedule (MPS) | A schedule of the amounts and times when specific items will be manufactured, typically using weekly increments of time.
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Material Requirements Planning (MRP) | Given the master production schedule, a procedure that generates specific schedules for component parts and subassemblies.
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Mixed Strategy | A plan that combines options available for meeting demand.
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Order Scheduling | Final planning of the use of specific machines, production lines, or work centers to produce orders.
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Production Planning Strategies | Plans that involve trade-offs among work-force size, work hours, inventory, and backlogs.
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Production Rate | The number of units completed per unit of time.
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Pure Strategy | A plan that uses just one of the options available for meeting demand. Typical options include chasing demand, using a stable workforce with overtime or part-time work, and constant production with shortages and overages absorbed by inventory.
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Rough-Cut Capacity Planning | Verification that sufficient capacity exists to meet a master production schedule.
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Short-Range Planning | Planning that covers a period less than six months with either daily or weekly increments of time.
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Workforce Level | The number of production workers needed each period.
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Yield Management | Allocating the right type of capacity to the right type of customer at the right price and time to maximize revenue or yield.
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