Aggregate planners seek to match supply and demand in an economy. This refers to the process of coordinating the production and distribution of goods and services in a way that meets the needs and wants of consumers. It is a crucial role that helps to ensure that an economy functions smoothly and efficiently.
There are several factors that can affect the supply and demand for goods and services in an economy. For example, changes in consumer preferences, technological advances, and economic conditions can all impact the supply and demand for different products.
Aggregate planners must take these factors into account when making decisions about production and distribution. They must also consider the resources available to them, including labor, capital, and raw materials, as well as any constraints or limitations they may face.
One key tool that aggregate planners use to match supply and demand is pricing. By adjusting prices, they can encourage the production of certain goods and discourage the production of others. For example, if there is a high demand for a particular product and a limited supply, aggregate planners may raise the price to encourage the production of more of that product. On the other hand, if there is a surplus of a particular product, they may lower the price to discourage the production of that product and encourage the production of other goods that are in higher demand.
In addition to pricing, aggregate planners also use a variety of other tools to match supply and demand. These may include tax incentives or subsidies, regulations, or other policies that influence the production and distribution of goods and services.
Overall, the goal of aggregate planners is to ensure that the supply of goods and services meets the demand of consumers in a way that is efficient and beneficial for the economy as a whole. By coordinating the production and distribution of goods and services, aggregate planners help to ensure that the economy is able to meet the needs and wants of its citizens and contribute to the overall well-being of society.
OM Chapter 11 Flashcards
Integrating several planning techniques to develop an MPS C. In practice, the more commonly used techniques for aggregate operations planning are: Accessibility: Keyboard Navigation Difficulty: Easy Learning Objective: 13-02 Develop a good aggregate production plan. I and III only C. I, II, and III 56. Inventory information for firm ABC: What was the inventory at the end of March, 2014? Quarter 1 production will be 800 units, quarter 2 production will be 1,400 units, and quarter 3 production will be 1,200 units. Overtime wages are typically 50% of regular time wages, exclusive of fringe benefits.
Chapter 11 Aggregate Planning and Master Scheduling Flashcards
What is available to promise for week 6? All of the choices are considered 47. Which of the following is a consideration in the decision to use hiring and laying off permanent full-time workers as a capacity option? Linear programming models used to produce an aggregate operations plan: I are based on a total cost formula as a linear objective function. Which of the following is not true about the transportation model as an approach to aggregate operations planning? Inventory information for firm ABC: Inventory at the end of March, 2014 200 units Forecast Demand during April, 2014 50 units Production planned during April, 2014 100 units What is the expected inventory at the end of April, 2014? Forecasts of demand are for 20 units per week. Accessibility: Keyboard Navigation Difficulty: Easy Learning Objective: 13-01 Explain what sales and operations planning and aggregate opeartions planning are; and identify the variables and strategies used in aggregate production planning. Nature of the operation regarding accommodating changes in staffing levels C. What is the projected on-hand inventory at the end of period 2? II and III only E. Customer orders are 24 for period 1, 18 for period 2, and 15 for period 3.
Ch. 10 Flashcards
Topic: Basic Strategies for Meeting Uneven Demand 48. Inventory information for firm ABC: Forecast demand during April 2014: 50 units Production Planned during April 2014: 100 units Expected inventory at the end of April, 2014: 200 units What was the inventory at the end of March, 2014? Customer orders are 22 for period 1 and 17 for period 2. Inventory information for firm ABC: Inventory at the end of March 2014: 200 units Forecast demand during April, 2014: 50 units Production planned during April, 2014: 100 units What is the expected inventory at the end of April, 2014? What is the projected on hand inventory at the end of period 2? A production quantity of 80 units is planned to be available in period 3. II, III, and IV E. The result is a Master Production Schedule MPS.
CH 11 aggregate planning and master scheduling Flashcards
It assumes linear terms and relationships among variables. AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-03 Describe some of the strategies that can be used for meeting uneven demand. I, II, and III C. Which of the following best describes aggregate planning? Using the FCFS first come, first served decision rule for sequencing the orders, the order is 1 14 Estimated Machine Time hours 15 9 7 10 3 Sequence Order Rule EDD FCFS 4 14 1 2 Using the EDD earliest due date decision rule for sequencing the orders, the order is to resolve a tie, use order in which the orders were received 1 5 2 3 Due Date hours from now 18 20 21 12 8 5 5 3 The average flow time and average past due hours for each option enter your responses are real numbers rounded to two decimal place Average Flow Time Average Past Due Hours 18 Transcribed Image Text: Order 1 2 3 4 5 Time Since Order Arrived hours ago 3 1 0 6 5 You answered Sequence Order The due dates reflect the need for the order to be at its next operation. Forecasts for the first two planning periods are 20 units each. III establishes an optimal least cost solution if it exists.
