MAN 4504 Lecture Notes - Lecture 2: Job Scheduler, Production Planning, Human Resources

• School: University of Florida
• Department: Management
• Course: MAN 4504
• Professor: Munson Adam B.

Document Summary

> greater than 3 months but shorter than a year. Purchasing, job scheduling, workforce levels, job assignments, production levels. > greater than 3 months but shorter than 3 year. New product planning, facility location, research & development. > good supplier relations & advantage in product innovation. > shortage in capacity can result in loss of customers or market share. Techniques usually assume an underlying stability in the system. Utilized when situation is vague and not much data. > time series forecasting: set of evenly spaced numerical data from response observance at regular time periods. > na ve approach: assuming demand is the same for the next period. > exponential smoothing: type of moving average, recent data weighed more heavily & requires a smoothing constant. > trend projections: fitting a trend line to the historical data point to project into the medium to long range. Used when quantitative data is hard to get.