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MGMT 339 Study Outline - Exam 3 - Mngmt 339. The final Exam Study Guide.

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Stevenson Chapter 11 – Aggregate Planning and Master Scheduling Aggregate planning is intermediate-range capacity planning, typically between 12 and 18 months. The primary goal is to utilize the... organization’s resources (capacity) to match the expected demand. a. Useful for seasonal or other variations in demand b. Big picture approach c. Planners focus on a group of similar products or services, not on individual products or services 2. Sales and operations planning is an alternative to aggregate planning - making intermediate range decisions to balance supply and demand, integrating financial and operational planning. a. Prepared with inputs from sales (demand forecast), finance (financial constraints), operations (capacity constraints) Stevenson Chapter 12 – MRP and ERP 1. Material Requirements Planning (MRP) – computer-based information system that translates product requirements of a master schedule into time-phased requirements for subassemblies, components, raw materials. Uses lead time, bills of material, to determine how much and when to order. Stevenson Chapter 13 – Inventory Management 1. Inventory – stock or store of goods for sale or incorporation into processes to produce end items. Also support items for production and company processes Stevenson Chapter 14 – JIT and Lean Operations 1. Lean Operations – flexible system that uses less resources than other systems. Produces greater productivity, lower costs, shorter cycle times and higher quality than other, non-lean systems 2. Goals of Lean Operations Stevenson Chapter 15 – Supply Chain Management 1. Supply chain – sequence of an organization’s facilities, functions and activities involved in producing and delivering products or services Many companies use weighted averages covering all relevant criteria – or vendor analysis, comparing bids or quotes side by side to make the final selection b. Supplier audits and certification – on-site visit to suppliers to assess capability, capacity, identify potential problems before signing a contract. Certifications do not always follow audits, but if certification is required, audits are generally a significant contribution Stevenson Chapter 17 – Project Management Crashing – defined as shortening the duration of an activity by adding additional resources, equipment, modifying requirements or other means. Critical path tasks are a usual target, because that reduces the overall project schedule. Crashing other tasks may free up resources for other projects, or for subsequent tasks earlier than originally planned [Show More]

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