ENG ELC 220 Lecture Notes - Lecture 17: Master Production Schedule, Radio-Frequency Identification, Planning Horizon
21 Oct 2020
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Scm chapter 12: managing inventory across the supply chain. Planning & control: set of tactical & execution-level business activities that includes master scheduling, material requirements planning & some form of production activity control + vendor order management; begins where sales and operations planning (s&op) ends: master scheduling. 1. 1 the master schedule record: firms tailor master schedule record to their manufacturing environment & characteristics of their product. Most master schedule records track: forecasted demand 2) booked orders 3) projected inventory levels 4) production quantities 5) available to meet customer needs. Forecasted demnd vs booked orders & ending inventory. Forecasted demand: company"s best estimate of demand in any period. Master production schedule (mps): amount of product that will be finished and available for sale at beginning of each week; drives more detailed planning activities, such as material requirements planning. Projected ending inventory: indicates estimated inventory level at end of each period.
