average inventory finished goods or ending inventory finished

average inventory finished goods? or ending inventory finished goods Inventory awaiting sale to consumers. Click here for Hint or

raw materials or dependent demand independent demand? or independent demand Requirements for an item from outside the system, also known as customer demand. Click here for Hint

level demand strategy or MRP level production strategy? or level production strategy Aggregate planning approach that relies on fixed capacity despite changing demand. Click here for Hint

planning horizon or time fence or time bucket? planning horizon The farthest point in the future considered in decision making. Click here for Hint

ERP or MRPII? enterprise resource planning (ERP) A strategic information system that integrates all functional areas of an organization. Click here for Hint

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. Click here for Hint

efficiency or utilization or dynamic? utilization Percent of design capacity in use. Click here for Hint

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. Click here for Hint

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. Click here for Hint

MRP or ERP or chase demand strategy? chase demand strategy Aggregate planning approach that relies on changing capacity to match demand. Click here for Hint

freezing or MRP or time fence? freezing In planning, a policy that does not allow changes to the MPS within a protected interval. Click here for Hint

child or lead time or time bucket? child An item required for immediate transformation into another item, known as its parent. Click here for Hint

parent or MRP or dependent demand? dependent demand Requirements for child items; also known as component demand. Click here for Hint

finished goods or parent or ending inventory? parent An item created from one or more other items, known as its children. Click here for Hint

backflushing or dynamic or efficiency? efficiency Percent of a resource in productive use. Click here for Hint

heuristic or aggregate planning aggregation ? or aggregate planning Medium-term tactical capacity planning in response to changing demand. Click here for Hint

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. Click here for Hint or

finite loading or infinite loading or MRPII? finite loading A scheduling approach that recognizes capacity constraints. Click here for Hint

average inventory ERP? or 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. Click here for Hint or

heuristic or aggregate planning aggregation ? aggregation To combine the creation of many similar products into one relevant measure of activity for the organization. Click here for Hint or

MPS or product structure diagram Gantt chart? or Gantt chart A scheduling diagram that illustrates activities across a horizontal timeline. Click here for Hint

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. Click here for Hint

gross requirements or LFL dependent demand? or gross requirements The combined, overall demand for an item. Click here for Hint

dynamic or heuristic optimization? A procedure to develop a good solution to a problem, but cannot guarantee identification of the best solution. Click here for Hint

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. Click here for Hint

infinite loading or MRP? infinite loading A scheduling approach that ignores capacity constraints. Click here for Hint

MPS or level demand strategy or MRPII? master production schedule A statement of independent demand for all inventory items in an MRP system. Click here for Hint

nervous or time bucket or lead time? lead time Any delay between requesting a product and receiving it. Click here for Hint

heuristic or ERP or optimization? optimization Identification of the best alternative. Click here for Hint

level demand strategy or MRPII? level demand strategy Aggregate planning approach that relies on influencing demand to match capacity. Click here for Hint

optimization stockpiling? or level production strategy stockpiling Producing or securing goods in advance of demand, building up substantial inventory. Click here for Hint or

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. Click here for Hint

bill of materials dynamic? or disaggregation Translation of an aggregated value into smaller individual estimates corresponding to specific products. Click here for Hint

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. Click here for Hint

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. Click here for Hint

infinite loading or dynamic or planning horizon? dynamic Actively and continuously changing. Click here for Hint

time bucket or time fence or planning horizon? time bucket The smallest interval of time used in planning, such as hourly, daily, or weekly. Click here for Hint

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. Click here for Hint

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. Click here for Hint

backward scheduling time bucket? or optimization or backward scheduling Starting an activity so it will finish on its deadline. Click here for Hint

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. Click here for Hint

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. Click here for Hint

WIP or raw materials or beginning inventory? raw materials Inventory brought in from outside the system. Click here for Hint

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. Click here for Hint

subcontract or parent or finite loading? subcontract To engage a third party in the provision of value to a customer. Click here for Hint

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. Click here for Hint

average inventory ending inventory? or gross requirement average inventory The average of the beginning and the ending inventory of a particular time period. Click here for Hint or

MCP rate or holding costs or aggregation? holding costs Variable costs associated with having inventory. Click here for Hint