Operations Management /Supply Chain and Production Planning Part 1
Supply Chain and Production Planning Part 1
This deck covers key concepts in supply chain and production planning, including capacity planning, demand forecasting, and procurement processes.
Aggregate supply chain planning focuses on the day-to-day execution activities like scheduling, sequencing, and operations. T or F
False
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Key Terms
Term
Definition
Aggregate supply chain planning focuses on the day-to-day execution activities like scheduling, sequencing, and operations. T or F
False
The forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand is called:
Supply chain planning
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Which type of capacity planning strategy will aggressively add new capacity in anticipation of future demand?
Proactive capacity planning
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What is an appropriate approach for determining the overall production capabilities of capital-intensive resources like machines and facilities?
Capacity planning
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Short term solutions for improving capacity performance include:
Use labor overtime and maximize work on key tasks
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What should be done with a forecast?
It should drive decision making across the supply chain
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| Term | Definition |
|---|---|
Aggregate supply chain planning focuses on the day-to-day execution activities like scheduling, sequencing, and operations. T or F | False |
The forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand is called: | Supply chain planning |
Which type of capacity planning strategy will aggressively add new capacity in anticipation of future demand? | Proactive capacity planning |
What is an appropriate approach for determining the overall production capabilities of capital-intensive resources like machines and facilities? | Capacity planning |
Short term solutions for improving capacity performance include: | Use labor overtime and maximize work on key tasks |
What should be done with a forecast? | It should drive decision making across the supply chain |
An effective way to improve forecast accuracy is to focus on reducing forecast error. T or F | True |
According to the Episode 3 article 'A Practitioner's Guide Demand Planning,' _________focuses on shortening the time to recognize true market data and understand true market shifts. | Demand sensing |
According to the Episode 3 article 'A Practitioner's Guide Demand Planning,' ________ is a major challenge for supply chain leaders. | Demand volatility |
Which parts of the organization is normally involved in the Sales and Operations planning process? | Finance, manufacturing, and supply chain management |
What is the role of supply chain managers in Sales & Operations Planning? | Translating the sales forecast into resource requirements. |
Which Materials Requirements Planning element details the amount of product to be produced along with the timing of production to meet customer demand? | Master production schedule |
Which of the following are primary goals of Materials Requirements Planning? | Reduce manufacturing costs, improve use of manufacturing capacity, and avoiding stockouts of key products |
Which of the following is an output of the Materials Requirements Planning system? | Manufacturing orders |
According to this week's reading, ___________ is a method for the effective planning of all resources of a manufacturing company. Ideally, it addresses operational planning in units, financial planning in dollars, and has a simulation capability to answer 'what-if' questions. | Manufacturing resource planning |
Scheduling comes before sequencing. In scheduling, we develop plans for our work centers where production activities occur. We load the schedule, comparing it to the workcenter capacities to validate schedule feasibility. Then you sequence individual jobs. T or F | True |
Unlike forecasting which focuses on day-to-day planning, scheduling is a mid-range tactical activity that develops plans across months and quarters. T or F | False |
Which planning activity focuses on the order of activity occurrence to ensure production quality and efficiency? | Sequencing |
What type of purchases should receive a supply manager's lowest priority and time commitment? | Generic goods |
______ is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. | Strategic resourcing |
Name the 5 steps in order of the 5 step procurement process | 1. Identify need for materials/services
2. Evaluate supplier options
3. Select best suppliers
4. Release orders and receive products
5. Measure and manage supplier performance |
Organizations should go through a formal purchasing process for each product that they buy. T or F | False |
Why would a company choose to keep production in-house instead of buying them from an external supplier? | It has competitive secrets to protect |
The purchase or a product, part, or component from an outside supplier versus manufacturing it in-house is called: | Outsourcing |
Which manufacturing strategy relies upon multi-purpose machinery, cross-trained workers, and factory floor routing flexibility? | Flexible manufacturing |
Traditional mass production methods push product out to markets in the hope of selling the inventory. T or F | True |
Scheduling | Allocation of resources to activities over time so that demands are met in a timely and cost effective manner |
Sequencing | Order of occurrence; process of following a specific order to ensure quality |
Gross requirements | Total expected demand for end item or component in a time period |
Projected on-hand | Amount of inventory that will be on hand at the beginning of each time period
= On hand inventory + Scheduled receipts |