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aggregation To combine the creation of many similar products

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Presentation on theme: "aggregation To combine the creation of many similar products"— Presentation transcript:

1 aggregation To combine the creation of many similar products
heuristic or aggregate planning or aggregation ? aggregation To combine the creation of many similar products into one relevant measure of activity for the organization. Page 321 2nd Ed, Page 371 Click here for Hint

2 aggregate planning Medium-term tactical capacity planning in
heuristic or aggregate planning or aggregation ? aggregate planning Medium-term tactical capacity planning in response to changing demand. Page 320 2nd Ed, Page 370 Click here for Hint

3 average inventory or gross requirement or
ending inventory? average inventory The average of the beginning and the ending inventory of a particular time period. Page 328 2nd Ed, Page 379 Click here for Hint

4 backflushing Determining the overall inventory requirements of a
backflushing or average inventory or MRP? backflushing Determining the overall inventory requirements of a finished good by combining information on amount of the good produced with the requirements information in its bill of materials. Page 346 2nd Ed, Page 397 Click here for Hint

5 backward scheduling Starting an activity so it will
backward scheduling or optimization or time bucket? backward scheduling Starting an activity so it will finish on its deadline. Page 342 2nd Ed, Page 392 Click here for Hint

6 beginning inventory The level of inventory as
average inventory or beginning inventory or ERP? beginning inventory The level of inventory as measured at the beginning of a particular time period. This level is assumed to be the ending inventory of the previous time period. Page 327 2nd Ed, Page 378 Click here for Hint

7 bill of materials A description of all raw materials and intermediate
WIP or bill of materials or product structure diagram? bill of materials A description of all raw materials and intermediate assemblies required to create a finished product. Page 338 2nd Ed, Page 389 Click here for Hint

8 capacity cushion Largely idle capacity maintained beyond the
capacity cushion or WIP or stockpiling? capacity cushion Largely idle capacity maintained beyond the expected load level of a system, often to absorb unexpected demand. Page 326 2nd Ed, Page 376 Click here for Hint

9 chase demand strategy Aggregate planning approach that relies on
MRP or ERP or chase demand strategy? chase demand strategy Aggregate planning approach that relies on changing capacity to match demand. Page 321 2nd Ed, Page 371 Click here for Hint

10 child or lead time or time bucket?
An item required for immediate transformation into another item, known as its parent. Page 338 2nd Ed, Page 389 Click here for Hint

11 parent or MRP or dependent demand?
Requirements for child items; also known as component demand. Page 338 2nd Ed, Page 388 Click here for Hint

12 bill of materials or disaggregation or
dynamic? disaggregation Translation of an aggregated value into smaller individual estimates corresponding to specific products. Page 337 2nd Ed, Page 388 Click here for Hint

13 dynamic Actively and continuously changing.
infinite loading or dynamic or planning horizon? dynamic Actively and continuously changing. Page 320 2nd Ed, Page 370 Click here for Hint

14 efficiency Percent of a resource in productive use.
backflushing or dynamic or efficiency? efficiency Percent of a resource in productive use. Page 326 2nd Ed, Page 376 Click here for Hint

15 ending inventory The level of inventory as measured at the conclusion
ending inventory or beginning inventory or time bucket? ending inventory The level of inventory as measured at the conclusion of a particular time period. This level is assumed to be the beginning inventory of the next time period. Page 327 2nd Ed, Page 378 Click here for Hint

16 enterprise resource planning (ERP)
ERP or MRPor MRPII? enterprise resource planning (ERP) A strategic information system that integrates all functional areas of an organization. Page 354 2nd Ed, Page 405 Click here for Hint

17 finite loading or infinite loading or MRPII?
A scheduling approach that recognizes capacity constraints. Page 354 2nd Ed, Page 406 Click here for Hint

18 finished goods Inventory awaiting sale to consumers.
average inventory or ending inventory or finished goods? finished goods Inventory awaiting sale to consumers. Page 338 2nd Ed, Page 388 Click here for Hint

19 freezing In planning, a policy that does not allow changes to
freezing or MRP or time fence? freezing In planning, a policy that does not allow changes to the MPS within a protected interval. Page 345 2nd Ed, Page 396 Click here for Hint

20 Gantt chart A scheduling diagram that illustrates activities across a
MPS or product structure diagram or Gantt chart? Gantt chart A scheduling diagram that illustrates activities across a horizontal timeline. Page 342 2nd Ed, Page 393 Click here for Hint

21 gross requirements The combined, overall demand for an item.
gross requirements or LFL or dependent demand? gross requirements The combined, overall demand for an item. Page 347 2nd Ed, Page 397 Click here for Hint

22 dynamic or heuristic or optimization?
A procedure to develop a good solution to a problem, but cannot guarantee identification of the best solution. Page 335 2nd Ed, Page 386 Click here for Hint

23 holding costs Variable costs associated with having inventory.
MCP rate or holding costs or aggregation? holding costs Variable costs associated with having inventory. Page 328 2nd Ed, Page 379 Click here for Hint

24 independent demand Requirements for an item from outside the system,
raw materials or dependent demand or independent demand? independent demand Requirements for an item from outside the system, also known as customer demand. Page 338 2nd Ed, Page 388 Click here for Hint

25 infinite loading A scheduling approach that
infinite loading or finite loading or MRP? infinite loading A scheduling approach that ignores capacity constraints. Page 354 2nd Ed, Page 405 Click here for Hint

26 lead time Any delay between requesting a product and receiving it.
nervous or time bucket or lead time? lead time Any delay between requesting a product and receiving it. Page 342 2nd Ed, Page 392 Click here for Hint

27 level demand strategy or MRP or MRPII?
Aggregate planning approach that relies on influencing demand to match capacity. Page 326 2nd Ed, Page 376 Click here for Hint

28 level production strategy
level demand strategy or MRP or level production strategy? level production strategy Aggregate planning approach that relies on fixed capacity despite changing demand. Page 324 2nd Ed, Page 374 Click here for Hint

29 lot-for-lot (LFL) An ordering policy in which
MPS or LFL or MRP? lot-for-lot (LFL) An ordering policy in which orders are sized to match individual demands exactly, theoretically accumulating no inventory. Page 347 2nd Ed, Page 398 Click here for Hint

30 minimum constant production (MCP) rate
MCP rate or MPS or level production strategy? minimum constant production (MCP) rate The lowest speed of perfectly level production that will not produce any shortages within a demand forecast. Page 337 2nd Ed, Page 387 Click here for Hint

31 manufacturing resource planning (MRPII)
MRP or MRPII or ERP? manufacturing resource planning (MRPII) A broader information system embedding MRP logic in a set of modules that integrate input from other areas of the organizations and enforce relevant capacity constraints on the development of schedules. Page 354 2nd Ed, Page 406 Click here for Hint

32 master production schedule
MPS or level demand strategy or MRPII? master production schedule A statement of independent demand for all inventory items in an MRP system. Page 344 2nd Ed, Page 395 Click here for Hint

33 material requirements planning (MRP)
MRP or MRPII or ERP? material requirements planning (MRP) A technique for scheduling the production of multiple items related by both independent and dependent demand. Page 337 2nd Ed, Page 387 Click here for Hint

34 natural planning horizon
time fence or time bucket or natural planning horizon? natural planning horizon A point of time within a forecast where aggregate demand dictates the minimum level production rate necessary to fulfill all demand specified by that forecast. Page 336 2nd Ed, Page 387 Click here for Hint

35 nervous In management science, a condition in which a small
nervous or LFL or disaggregation? nervous In management science, a condition in which a small change to input data can create major revisions to the conclusions suggested by a particular technique. Page 345 2nd Ed, Page 396 Click here for Hint

36 optimization Identification of the best alternative.
heuristic or ERP or optimization? optimization Identification of the best alternative. Page 335 2nd Ed, Page 386 Click here for Hint

37 finished goods or parent or ending inventory?
An item created from one or more other items, known as its children. Page 338 2nd Ed, Page 389 Click here for Hint

38 planned order receipts
planned order receipts or aggregation or planned order releases? planned order receipts A schedule of the arrival of a particular item within a planning horizon, to supply its gross requirements over that same time interval. Page 347 2nd Ed, Page 397 Click here for Hint

39 planned order releases
planned order receipts or aggregation or planned order releases? planned order releases A schedule of the ordering of a particular item within a planning horizon, to supply its gross requirements over that same time interval. Page 347 2nd Ed, Page 398 Click here for Hint

40 planning horizon The farthest point in the future considered in
planning horizon or time fence or time bucket? planning horizon The farthest point in the future considered in decision making. Page 321 2nd Ed, Page 371 Click here for Hint

41 product structure diagram
bill of materials or Gantt chart or product structure diagram? product structure diagram A particularly visual format for a bill of materials, in which parent/ child relationships among inventory items are illustrated as a network of connected shapes. Page 338 2nd Ed, Page 389 Click here for Hint

42 raw materials Inventory brought in from outside the system.
WIP or raw materials or beginning inventory? raw materials Inventory brought in from outside the system. Page 341 2nd Ed, Page 392 Click here for Hint

43 optimization or level production strategy or
stockpiling? stockpiling Producing or securing goods in advance of demand, building up substantial inventory. Page 325 2nd Ed, Page 375 Click here for Hint

44 subcontract To engage a third party in the provision of value to a
subcontract or parent or finite loading? subcontract To engage a third party in the provision of value to a customer. Page 322 2nd Ed, Page 372 Click here for Hint

45 time bucket The smallest interval of time used in planning, such
time bucket or time fence or planning horizon? time bucket The smallest interval of time used in planning, such as hourly, daily, or weekly. Page 345 2nd Ed, Page 396 Click here for Hint

46 time fence A point in time specified by a policy to protect an MPS
time bucket or time fence or planning horizon? time fence A point in time specified by a policy to protect an MPS from near-term changes, dividing the planning horizon into shorter intervals with varying levels of protection. Page 345 2nd Ed, Page 396 Click here for Hint

47 utilization Percent of design capacity in use.
efficiency or utilization or dynamic? utilization Percent of design capacity in use. Page 326 2nd Ed, Page 376 Click here for Hint

48 work-in-process (WIP)
ending inventory or finished goods or WIP? work-in-process (WIP) Inventory resulting from transformation of raw materials but not yet ready for sale to consumers. Page 342 2nd Ed, Page 392 Click here for Hint

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