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.
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nervous
or
time bucket
or
lead time?
lead time
Any delay between
requesting a product and
receiving it.
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dynamic
or
heuristic
or
optimization?
heuristic
A procedure to develop a
good solution to a problem,
but cannot guarantee
identification of the best
solution.
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ending inventory
time bucket?
or
beginning inventory
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.
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or
infinite loading
or
finite loading
or
MRP?
infinite loading
A scheduling approach that
ignores capacity constraints.
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planned order receipts or aggregation
planned order releases?
or
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.
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WIP
or
raw materials
or
beginning inventory?
raw materials
Inventory brought in from
outside the system.
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time bucket
or
time fence
or
planning horizon?
time bucket
The smallest interval of
time used in planning, such
as hourly, daily, or weekly.
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planned order receipts or aggregation
planned order releases?
or
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.
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finite loading
or
infinite loading
or
MRPII?
finite loading
A scheduling approach that
recognizes capacity
constraints.
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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.
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raw materials or dependent demand
independent demand?
or
independent demand
Requirements for an item
from outside the system,
also known as customer
demand.
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average inventory
finished goods?
or
ending inventory
finished goods
Inventory awaiting sale to
consumers.
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or
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.
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efficiency
or
utilization
or
dynamic?
utilization
Percent of design capacity
in use.
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time fence or time bucket
natural planning horizon?
or
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.
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subcontract
or
parent
or
finite loading?
subcontract
To engage a third party in
the provision of value to a
customer.
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MRP
or
ERP
or
chase demand strategy?
chase demand strategy
Aggregate planning
approach that relies on
changing capacity to
match demand.
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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.
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finished goods
or
parent
or
ending inventory?
parent
An item created from one or
more other items, known as its
children.
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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.
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infinite loading
or
dynamic
or
planning horizon?
dynamic
Actively and continuously
changing.
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backward scheduling
time bucket?
or
optimization
or
backward scheduling
Starting an activity so it will
finish on its deadline.
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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.
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optimization
stockpiling?
or
level production strategy
stockpiling
Producing or securing goods
in advance of demand,
building up substantial
inventory.
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or
heuristic or aggregate planning
aggregation ?
or
aggregate planning
Medium-term tactical
capacity planning in
response to changing
demand.
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backflushing
or
dynamic
or
efficiency?
efficiency
Percent of a resource in
productive use.
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level demand strategy or MRP
level production strategy?
or
level production strategy
Aggregate planning approach
that relies on fixed capacity
despite changing demand.
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MPS
or
level demand strategy
or
MRPII?
master production schedule
A statement of independent demand
for all inventory items in an MRP
system.
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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.
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bill of materials
dynamic?
or
disaggregation
or
disaggregation
Translation of an aggregated
value into smaller individual
estimates corresponding to
specific products.
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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.
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level demand strategy
or
MRP
or
MRPII?
level demand strategy
Aggregate planning approach
that relies on influencing
demand to match capacity.
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child
or
lead time
or
time bucket?
child
An item required for immediate
transformation into another
item, known as its parent.
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parent
or
MRP
or
dependent demand?
dependent demand
Requirements for child items;
also known as component
demand.
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heuristic or aggregate planning
aggregation ?
aggregation
To combine the creation
of many similar products
into one relevant measure
of activity for the
organization.
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or
average inventory
ERP?
or
beginning inventory
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.
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or
MCP rate
or
holding costs
or
aggregation?
holding costs
Variable costs associated
with having inventory.
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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.
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average inventory
ending inventory?
or
gross requirement
average inventory
The average of the beginning
and the ending inventory of a
particular time period.
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or
heuristic
or
ERP
or
optimization?
optimization
Identification of the best
alternative.
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ERP
or
MRPor MRPII?
enterprise resource
planning (ERP)
A strategic information system
that integrates all functional
areas of an organization.
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bill of materials or Gantt chart
product structure diagram?
or
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.
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MPS or product structure diagram
Gantt chart?
or
Gantt chart
A scheduling diagram that
illustrates activities across a
horizontal timeline.
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planning horizon
or
time fence
or
time bucket?
planning horizon
The farthest point in
the future considered in
decision making.
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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.
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gross requirements or LFL
dependent demand?
or
gross requirements
The combined, overall
demand for an item.
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freezing
or
MRP
or
time fence?
freezing
In planning, a policy that
does not allow changes to
the MPS within a protected
interval.
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