Types of operations systems - variations in demand, Operation Management

Assignment Help:

Types of Operations Systems - Variations in Demand

Make-to-order versus make-for-stock 

Particularly in production systems, a key decision must be made as to whether or not finished products will be made in advance of specific orders. The choice will largely depend on the nature of the product and its market. 

Make for stock 

In this case, products are made in advance of orders, typically based on a forecast of eventual demand, and held in stock ready to supply customers off-the-shelf. If the customer's expectations is less than the supply lead time, then make for stock. This is the case in most shops where the customer expects to purchase on the spot.


Related Discussions:- Types of operations systems - variations in demand

Information required for process planning, Information required for Process...

Information required for Process Planning Quantity of work to be along with product specifications. Availability of equipment tools and personnel (giving dates e

Describe different steps needed for proper decision making, Question: O...

Question: Oceania Hospitals has recorded demand for heart transplant surgery over the past few years. The data is given in the following table: a) You have been hired

Production Planning & Control, All of the following are time phasing requir...

All of the following are time phasing requirement of an MRP logic except Options Gross requirement will occur at the middle of a period On hand inventory will be measured

Explain benefits of using qualitative and quantitative data, Compare and co...

Compare and contrast the benefits of using qualitative and quantitative data collection methods as they apply to organizational development (OD).

Explain inventory decreases, What happens to inventory as the number of kan...

What happens to inventory as the number of kanban cards increases? Inventory decreases Inventory increases Inventory remains the same The number of kanban cards has no

Explain horizontal and vertical equity, Imagine that the U.S. Congress deci...

Imagine that the U.S. Congress decides to completely overhaul the current federal income tax system because of its tremendous complexity and is considering a flat-rate income tax w

Statistical process control - mean and range charts, Statistical Process Co...

Statistical Process Control - Mean and Range Charts 1. SPC can be used as a means of preventing product non-conformance  2. Causes of variability may be categorised as comm

Compute the standard time for each work, The Arkade Company has decided to ...

The Arkade Company has decided to use a 15 percent allowance factor based on job time. Calculate the standard time for each work element and for the total job. The frequency equals

Describe the three fundamental principles of statistical, Explain the three...

Explain the three fundamental principles of statistical thinking. Use an example from either your personal life or a work process to illustrate

Explain low level coding in mrp indicates, Q 1 Low level coding in MRP indi...

Q 1 Low level coding in MRP indicates the exact status of each item managed by the system in "real time." Q 2 Which of the following is considered a secondary report in an MRP s

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd