Examlex
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Chase Strategy
A production planning method that adjusts workforce levels and production rates to match demand, minimizing inventory levels and workforce costs.
Level Strategy
An inventory management strategy where production rates or workforce levels are kept constant despite demand fluctuations.
Formal Planning Model
A structured approach to planning that involves systematic procedures and methodologies to achieve specified objectives.
Pure Level Strategy
A production strategy where the output rates are kept constant and inventory is used to absorb fluctuations in demand.
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