Supply Chain Final

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66 Terms

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Hierarchical planning
A multi-level approach to planning that starts with high-level business objectives and cascades down to detailed operational plans.
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Aggregate Planning (AP)
A medium-term production plan that determines the quantity of products to be produced
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Master Production Scheduling (MPS)
A plan that specifies what products a manufacturer will produce
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Sales and Operations Planning (S&OP)
A process to align sales and marketing plans with production plans.
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Long-Term Production Plan
A plan outlining production activities over an extended period.
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Materials Plan
A plan detailing the materials needed for production.
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Programming and Control
The execution and monitoring of production activities.
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Business Plan
A high-level plan outlining the company's objectives and strategies.
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Commercial Plan
A plan focused on sales and marketing activities.
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Financial Plan
A plan detailing the company's financial goals and strategies.
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Level of detail
The degree of specificity in a plan
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Time horizon
The length of time a plan covers
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Planning decisions
Choices made to match productivity with demand fluctuations.
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Manufacturing strategies
Approaches to production based on factors like demand time and delivery time.
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ETO (Engineering-to-order)
A manufacturing strategy where products are designed and built to customer specifications.
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MTO (Make-to-order)
A manufacturing strategy where products are produced after receiving a customer order.
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ATO (Assemble-to-order)
A manufacturing strategy where products are assembled from standard components after receiving a customer order.
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MTS (Make-to-stock)
A manufacturing strategy where products are produced and held in inventory to meet customer demand.
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Demand time (D)
The total time customers wait from placing an order to receiving it.
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Total delivery time (P)
The time it takes for a company to acquire resources
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Capacity options
Choices a company makes to adjust its production capacity.
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Chase strategy
A production strategy that adjusts production to match demand fluctuations.
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Leveling strategy
A production strategy that maintains a stable production rate.
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Mixed strategies
Production strategies that combine chase and leveling strategies.
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Inputs (to Aggregate Planning)
Factors that influence the Aggregate Plan
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Outputs (of Aggregate Planning)
The results of the Aggregate Plan
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Intuitive models
Aggregate planning techniques based on trial and error.
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Analytical models
Aggregate planning techniques that use mathematical or heuristic approaches.
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Simulation models
Aggregate planning techniques that use computer simulations.
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Time buckets
Discrete time periods used for planning.
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Gross Requirements (GR)
Total production requirements.
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Orders in progress (O)
Existing orders that need to be fulfilled.
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Inventory beginning of the week (I)
Inventory available at the start of a period.
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Net Requirements (NR)
The quantity of products needed after accounting for existing orders and inventory.
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Available to Promise (ATP)
The quantity of products available to meet new customer orders.