Operations Planning and Demand Management

📋 Course Outline

1. Matching supply and demand in operations management
2. Classification of demand types: runners, repeaters, and strangers
3. Independent and dependent demand concepts in production
4. Master Production Schedule (MPS) and demand smoothing techniques
5. Bill of Materials (BOM) structure, hierarchical relationships, and dependent demand calculations
6. Lead times and time-phased product structure in production scheduling
7. Material Requirements Planning (MRP) sheets and scheduling details

📖 1. Matching supply and demand in operations management

🔑 Key Concepts & Definitions

• Supply and Demand Matching : The ability of an organization to supply sufficient resources to fully meet consumers’ demand for their products.
• Supply can fluctuate Seasonal demand : Supply variations caused by seasonal factors, such as increased demand for umbrellas during rainy seasons or holiday-related products.
• Supply chain management : The coordination and management of activities involved in sourcing, procurement, conversion, and logistics to meet demand efficiently.

📝 Essential Points