For the following three terms, explain what they are and their importance to decisions. Â Â Â Â Â Â Â Â Â Â Â Â Â Â (a) Master Production Scheduling...

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Operations Management

For the following three terms, explain what they are and theirimportance to decisions.
Â Â Â Â Â Â Â Â Â Â Â Â Â Â (a)Master Production Scheduling (MPS)
Â Â Â Â Â Â Â Â Â Â Â Â Â Â (b)What is Aggregate Planning? Discuss its application to a businessusing your own example.
Â Â Â Â Â Â Â Â Â Â Â Â Â Â (c)Explain disaggregation planning with an example,

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Ans 1 Master Production Schedule Master Production Schedule MPS is a plan that is created in advance for the completion of production of the goods or products MPS takes into account various aspects of production including inventory staffing and production figures The plan specifically points out the number of individual products or commodities that will be produced in each of the time frames and periods The schedule may be created after analysing what demand the commodity will have MPS attempts to optimise production and manufacturing by quantifying the different processes resources and parts It also focuses on removing the bottlenecks and avoiding error and wastage As the implementation of MPS spans across the manufacturing unit it has a huge effect on profitability In recent times MPS is implemented through a software which may also be customized or tweaked See Answer

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