notes

Aggregate Production Planning (APP) What are the major inputs, constraints, and outputs of the aggregate production plan (APP) Does APP have to be in terms of a real product Do the costs of carrying inventory, hiring, firing, backordering exist in the accounting books Where does APP fit in the hierarchy of plans What is a pure strategy What is a mixed strategy Give examples How do we determine (judge) whether one plan is better than the other Is it appropriate for a company, which competes on the basis of quality, to construct a chase plan Explain and give examples if necessary What is the major cost item for the level plan Describe the (computational) steps involved in constructing a level plan What is the major cost for the chase plan What is backordering It is usually mixed with what other type of strategy (See the document on Bb) If we dont cover backordering in class, dont worry about it. We may cover it Tuesday, Oct 21st. Arrange in order of increasing cost (left to right, from least to most expensive) overtime, subcontract, backorder What is relevant (incremental) cost Does it exist in accounting books All the problems assigned or done in class. Forecasting Do forecasting accuracy increase or decrease as the planning horizon increases Do forecasting accuracy increase or decrease as items are grouped (aggregated) What is Delphi method What problems do you see with sales force composite estimate What is causal (associative) forecasting What is time series forecasting What are the components of time series (pp 108-109) Which statistic do we use to choose between two forecasting methods In using simple exponential smoothing, what do we do if we do not have a forecast for the first period Which component of time series do we smoothen with exponential smoothing With moving averages As a forecasting technique, is exponential smoothing always better than moving averages What happens when we increase alpha EMBED Equation.DSMT4 Are we giving more or less