MGMT 339 Spring 2018 -2020 Final Exam Review with complete solution.

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MGMT 339 Spring 2018 -2020 Final Exam Review with complete solution. 6K(lean systems),10K(Op planning),11K(resource planning),12K(supply chain design) and 14K(supply chain integration) ... Remember: Ending inventory = beginning inventory + production - demand 10K(Op planning) ● What does Aggregate Planning provide, what units do you mostly work with? -Aggregate planning provide staffing levels and production levels (given the demand forecast, it provides level production (in labor hours) which is monthly production amount set constant to meet demand; provides number of employees needed to meet demand (provides # needed to hire or fire), then it provides total costs for implementing plan -Uses general work units which is Labor hours AGGREGATE PLANNING - WHY? ○ Planning - staffing levels and production levels ○ Synchronizes workflow ○ Uses general work units ■ Labor hours **convert to labor hours Operations planning and scheduling: The process of balancing supply with demand, from the aggregate level down to the short-term scheduling level Aggregate planning: A time-phased plan of future aggregate resource (staffing) levels so that supply is in balance with demand(production). AKA Sales and operations plan. A plan of future aggregate resource levels so that supply is in balance with demand. It states a company/department’s production rates, workforce levels, and inventory holdings that are consistent with demand forecasts and capacity constraints. Aggregate planning is time phase, meaning that it is projected for several time periods into the future. An aggregate plan is developed to meet forecasted demand by setting output, employment, finished goods inventory and beginning inventory. [Show More]

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