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16 Cards in this Set
- Front
- Back
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What is MPC?
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Tells the processes what to work on, plans the resources that processes use and plan for what processes will be doing in the future
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Which are the three planning horizons for MPC?
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Long term - resources to meet the demands of the future
Medium term - matching supply in monthly to annual basis Short term - detailed scheduling |
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What does the MPC system framework look like?
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Front end: activities and systems for overall direction setting
Engine: detail material and capacity planning Back end: track and collect data |
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What are the benefits for using MPC?
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Lowering costs and greater responsiveness to the market
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What is the problem to MPC?
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Not very flexible
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What is EOQ?
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Economic order quantity - when and how many parts should be ordered
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What is EBQ?
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Economic batch quantity - when and how many products should be produced
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What can be the problem of EOQ?
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If the demand goes up rapidly, the replenishments lag behind the demand trend
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What is POQ?
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Periodic order quantity. The reorder quantities are revised more frequently
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What is the bullwhip effect?
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It is when information isn't shared and everyone has to guess what is going on downstream, it leads to too little or too much inventory
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What is ECR?
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Efficient customer response, attempts to eliminate inefficiencies by introducing strategic initiatives in four areas: assortment, product info, promotion, replenishment
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What is category management?
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Managing a group of products as strategic business units within each store
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What is EDI and what are the benefits?
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Electronic data interchange
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What is QR?
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A strategy to meet changing requirements. Responsiveness to consumer demand. Right: time, quantity, quality, place, price
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What is VMI?
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Vendor-managed inventory, when the vendor manages the inventory, instead of the customer
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What is CPFR?
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Collaborate planning, forecasting and replenishment,
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