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Operations Management

by: Mr. Warren Lang

Operations Management MD 021

Mr. Warren Lang
GPA 3.76

Jianer Zhou

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About this Document

Jianer Zhou
Class Notes
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Popular in Operations,Information & Strategic Mgmt

This 9 page Class Notes was uploaded by Mr. Warren Lang on Saturday October 3, 2015. The Class Notes belongs to MD 021 at Boston College taught by Jianer Zhou in Fall. Since its upload, it has received 15 views. For similar materials see /class/218047/md-021-boston-college in Operations,Information & Strategic Mgmt at Boston College.

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Date Created: 10/03/15
MD 021 Operations Management Resource Planning Outline Dependent demand Material Requirement Plan MRP Bill of Materials BOM Master Production Schedule MPS Inventory record Lot sizing Independent Demand vs Dependent Demand Dependent demand Demand for subassemblies or parts to be used in the production of finished goods It is calculated rather than forecasted Complexity comes from interdependencies between items Independent demand Market demand for finished products o Components may have independent demand as spareparts o Must be forecasted Material Requirements Planning MRP Information system that translates master schedule requirements for finished products into timephased requirements for subassemblies parts and raw materials Inputs to the MRP 0 Bill of Materials BOM o The Master Production Schedule MPS 0 Inventory record Outputs from the MRP 0 Planned orders 0 Order releases 0 Secondary reports Bill of Materials BOM A record of all the components of an item the parentcomponent relationships and usage quantities derived om engineering and process designs The Master Production Schedule MPS A detailed plan that states how many END items Will be produced Within speci ed periods of time Inventory record Records status of each item by time period time bucket With respect to gross requirements schedule receipts expected amount on hand lotsize policy lead time supplier etc 133 E4 BOM Example X l I I B2 E E2 C F2 Parents BOM OfX Gross requirements For 10 Xs Onhand inventory of individual items Available Invent0 ry Net requirements FEMUOUU Lead time in weeks X 1 B1 C 2 D2 E 1 F2 One scheduled receipt of 50 units of Item E to arrive at the beginning of week 1 Useful Formula Net Requirements Gross Requirements Available Inventory Available Inventory Projected onhand inventory Safety stock Inventory allocated to other items Projected onhand inventory Onhand inventory Scheduled Receipt MRP Schedule Item Lot Size Description Lead time Safety Stock Week 3 l 32 33 34 3 5 3 6 3 7 3 8 39 Gross requirements Scheduled Receipts Projected onhand inventory Planned receipts Planned order Releases Not required to know how to work out an MRP schedule LotSizing Rules 0 Lot for Lot Ordering 0 Economic Order Quantity 0 Economic Production Quantity 0 Fixed period Ordering Manufacturing Resources Planning MRP 11 Extension of MRP which includes MRP as well as capacity requirements planning financial planning marketing planning etc Enterprise Resources Planning ERP Information system that integrates all functional areas including MRP ll finance accounting HR marketing etc


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