The objective of strategic capacity planning is to determine the overall capacity level of
capital intensive resources (including facilities, equipment and overall labor force size)
that best supports the company’s long-range competitive strategy.
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The process when a company seeks to match the benefits of a successful position while
maintaining its existing position by adding new features, services and technologies into
its current portfolio is called innovation.
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If a person performing a task has been achieving an 85 percent learning curve and if it
took 1 minute to produce the first unit, the total time to produce 1,000 units will be
437.5 minutes.
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Being able to permit interactive debugging of a model so the user can trace flows
through the model and more easily find errors is considered a desirable feature of
simulation software systems.
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Logistics is a term indicating transportation choices for goods produced internationally
but consumed domestically.
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A general purpose machine is less capable than a special purpose machine in certain
tasks but can perform a broader variety of tasks.
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General management consulting often recommends changes in attitudes and culture,
which are relatively easy for the client to attain.
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The term “queue discipline” involves the art of controlling surly and unruly customers
who have become irritated by waiting.
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The goal of JIT production is to drive all inventory queues lower.
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The term “discounted cash flow” refers to the total stream of payments that an asset will
generate in the future discounted to the present time.
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Fixed and variable costs incurred in producing a given product type in a given time
period are relevant aggregate operations planning costs.
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It is not unusual for a service supply chain to be unidirectional which contrasts with the
more typical bidirectional manufacturing supply chain.
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Regardless of the computer language chosen for a simulation model, too much data
from a simulation can be dysfunctional to problem solving.
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The main purpose of the aggregate production plan is to specify the optimal
combination of production rate, workforce Level and inventory on hand.
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A major limitation of linear regression as a model for forecasting is that past data and
future projections are assumed to fall on or near a straight line.
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In a net change MRP system requirements and schedules are considered rigid and never
updated.
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