A General Strategic Capacity Planning Model under Demand Uncertainty Woonghee Tim Huh‚1 Robin O. Roundy‚2 Metin Çakanyildirim3 1 Department of Industrial Engineering and Operations Research‚ Columbia University‚ New York‚ New York 10027 2 School of Operations Research and Industrial Engineering‚ Cornell University‚ Ithaca‚ New York 14853 3 School of Management‚ University of Texas at Dallas‚ Richardson‚ Texas 75083 Received 29 October 2003; revised 24 August 2005; accepted 30 September
Premium Optimization Linear programming
unit-1 PLANNING AND CO-ORDINATION Planning: Nature and principles of planning‚ Steps in planning‚ types of planning‚ Levels of planning – The Planning Process-MBO. Decision making-role-significance – decision making process-decision tree analysis. Co-ordination-principles. --------------------------------------------------------------------------------------------------------------------- INTRODUCTION: Planning in organizations and public policy is both the organizational process of creating
Premium Management Decision theory Decision making
Interrelationship between Planning & Controlling Functions of Management. Ashiqur Rahman Sami Business Administration Discipline Allama Iqbal UNIVERSITY‚ PAKISTAN Interrelationship between Planning & Controlling Functions of Management. Before we go to specify the interrelationship between the Planning and Controlling Function of Business we have to define Planning and Controlling first. Planning: Planning is a basic managerial function. It involves deciding on a course
Premium Management Planning
chapter 6: Planning capacity Capacity the maximum rate of output of a process or a system. Acquisition of new capacity requires extensive planning‚ and often involves significant expenditure of resources and time. Capacity decisions must be made in light of several long-term issues such as the firm’s economies and diseconomies of scale‚ capacity cushions‚ timing and sizing strategies‚ and trade-offs between customer service and capacity utilization. Planning capacity across the organization
Premium Capacity utilization Economics of production Costs
INVENTORY MANAGEMENT (JIT AND BLACKFLUSH COSTING) Inventory Management includes planning‚ coordination‚ and controlling the flow of inventory into‚ through‚ and out of company. There are 5 categories of cost that are associated with goods sold: 1. Purhcasing costs: the cost of goods from supplier and freight 2. Ordering costs: the cost of preparing purchase orders‚ receiving and checking the goods‚ matching invoices received‚ purchase orders and delivery notes to make payments 3. Storage cost:
Premium Variable cost Costs Inventory
021 - Management and Operations Capacity Planning and Decision Theory ▪ Measures of capacity ▪ Bottlenecks ▪ Capacity strategies ▪ A systematic approach to capacity decisions ▪ Make or Buy Problem ▪ Decision Making Under Uncertainty and Risk‚ Decision Trees Capacity Planning Capacity is the maximum rate of output for a facility. Capacity planning
Premium Decision theory Risk
Unit4: Planning Meaning and Definition of Planning Planning is the primary function of management. It focuses on the future course of action. It specifies the objectives to be achieved in future and selects the alternative course of action to reach defined objectives. It also involves many activities like analyzing and decision making about technical‚ personnel‚ financial‚ and other elements essential to implement predetermined course of action. Thus‚ planning is mental and paper activities
Premium Management Strategic management
Capacity Planning and Control: Nestle Course Work in Operations Management May‚ 2005 A business organization is an entity that inputs capital and resources‚ processes them and gets an output – products and services. Any business invests much capital into R’n’D and marketing for studying the customers’ opinion because it is a priority for any business to satisfy its customers. The more satisfied the customers are the better off the business is. Thus both parties are well off – customers get what
Premium Chocolate Supply and demand
Distribution Management | Distribution Requirements Planning | Concept and analysis of DRP | | * Introduction: DRP system became famous in the 1970s‚ because companies started to notice the need for a strong system to help in resource replenishment to be able to fulfill customers demand in a timely manner. DRP refers to distribution requirements planning‚ in which you plan the best product for your customers‚ its quantity‚ location‚ and time required to be present‚ in order to
Premium Supply chain Supply chain management Logistics
Management and Planning Management Planning Management: Theory‚ Practice and Application/330 Management Planning Planning is identifying the goals to be accomplished and making a decision to move forward the suitable actions needed to achieve those goals (Bateman and Snell‚ 2009). Examples of planning may include examining current situation‚ predicting the future‚ establishing goals‚ choose what types of activities one will engage‚ and selecting the resources needed to achieve the said goals (Bateman
Premium Apple Inc. Steve Jobs