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sales and operations planning

(S&OP) a process to develop tactical plans by integrating customer-focused marketing plans for new and existing products with the operational management of the supply chain.

level production strategy

the firm produces at a constant rate over the year.

chase strategy

the production rate is changed in each period to match the amount of expected demand.

mixed or hybrid strategy

a strategy that includes some elements of level production and some elements of chase production strategies.

yield management

a process that adjusts prices as demand for a service occurs (or does not occur).

Holding Inventory

having inventory on hand

Regular Production:

average labor and benefits


working more hours than standard


finding, acquiring and training new employees


separation packages

Backorder/lost sales:

expediting supply, lost good-will


unit cost and loss of control

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