Module 8 Flashcards
Master Production Schedule
a timetable that specifies what it to be made and when
Chase Strategy
A planning stategy that sets production equal to forecast demand
Level Scheduling
Maintaining a constant output rate, production rate, or workforce level over the planning horizon
Mixed Strategy
A planning strategy that uses two more more controllable variables to set a feasible production plan
Revenue Management
Capacity decisions that determine the allocation of resources to mazimize revenue or yield
Material Requirements Planning
a dependent demand technique that uses a bill of material, inventory, expected receipts, and a master production schedule to determine material requirements
Modular Bills
Bills of material organized by major subassemblies or by product options
Planning Bills
material groupings created in order to assign an artificial parent to a bill of material
also called pseudo bills
Phantom bill of material
bills of material for components, usuall subassemblies, that exist only temporarily; they are never inventoried
Low Level Coding
a number that identifies items at the lowest level at which they occur
Gross Material Requirements Plan
a schedule that shows the total demand for an item and when it must be ordered from suppliers or when production must be started to meet its demand by a particular date
Net requirements plan
the result of adjusting gross requirements for inventory on hand and scheduled receipts
Lot Sizing decision
the process of, or techniques used in, determining lot size
Lot for Lot
a lot-sizing technique that generates exactly what is required to meet the plan
Periodic order quantity
q
An inventory ordering technique that issues orders on a predetermined time interval, with the order quanity covering the total of the intervals requirements
Demand Driven MRP
strategically alters lead times and precisely places safety stock withing the BOM structure to improve MRP performance
Capacity Planning
determining short range capacity requirements
Buckets
Time units in a material requirements planning system
Load or Dispatch Reports
a report showing the resource requirements in a work center for all work currently assigned as well as all planned and expected orders
System Nervousness
frequent changes in an MRP system
Time Fences
A means for allowing a segment of the master schedule to be designated as “not to be rescheduled”
Pegging
in material requirements planning systems, tracing upward the bill of material from the component to the parent item
Material Requirements Planning II
a system that allows, with MRP in place, inventory data to be augmented by other resource variables; in this case, MRP becomes material resource planning
Distribution resource plannign
a time phased stock replenishment plan for all levels of a distribution network
