Virginia Tech ISE 4204 - 4+-+Aggregate+Planning+1+Chase+Level (31 pages)

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Translating the forecast into useful information for production Aggregate Planning Aggregate planning is medium range planning to determine production levels that meet demand Chapter 3 Sections 3 0 3 4 Introduction Issues Strategies ISE 4204 Cherbaka 2014 PRODUCTION PLANNING DECISIONS Hierarchy Forecast Forecast of aggregate demand for t period planning horizon 3 18 months 1 6 Quarters Weekly Assumed Deterministic in this chapter Aggregate Production Plan Determination of aggregate production and workforce levels for t period planning horizon Master Production Schedule Production levels by item by time period Materials Requirements Planning Detailed Timetable for production and assembly of components and subassemblies adapted from Nahmias 6th Edition 2009 Figure 3 1 p 128 Product Family Product Components ISE 4204 Cherbaka 2014 4 Course Objectives upon successful completion of this course the student should be able to 1 identify different strategies employed in manufacturing and service industries to plan production and control inventory Planning StrategiesChase vs Level 2 identify the major components of a production management system and describe the relationships between the components LinkForecast to Aggregate Plan 3 ISE 4204 Cherbaka 2014 PRODUCTION PLANNING DECISIONS Hierarchy Aggregate planning is medium range planning to determine production levels that meet demand Forecast Forecast of aggregate demand for t period planning horizon Aggregate Production Plan Determination of aggregate production and workforce levels for t period planning horizon Master Production Schedule Production levels by item by time period Materials Requirements Planning Detailed Timetable for production and assembly of components and subassemblies adapted from Nahmias 6th Edition 2009 Figure 3 1 p 128 ISE 4204 Cherbaka 2014 Aggregate Planning translates demand forecasts into a blueprint for planning staffing and production levels 500 Demand by period 450 400 350 What makes this process