Producing Extra Inventory During Periods of Low Demand,which Is Then

question 63

Multiple Choice

Producing extra inventory during periods of low demand,which is then consumed during periods of high demand is known as

• A)production smoothing.
• B)production hedging.
• C)production buffering.
• D)production stocking.

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Definitions:

Johnson's Rule

Johnson's Rule is a heuristic method for minimizing the make-span of a set of jobs on two machines, based on sequencing the jobs by shortest processing time across the machines in specific order.

Strategic Importance

The significance of an action, decision, or function in achieving long-term goals and maintaining a competitive advantage.

Short-Term Scheduling

The process of organizing, managing, and allocating resources and tasks within a short timeframe, focusing on immediate production and task goals.

Production Planning

The process of organizing and optimizing resources to ensure efficient production and meet delivery schedules.