Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?
A) Aggregate planning
B) Firms acting independently
C) Firms acting in their own best interest
D) Firms sharing information

Question

Quizplus · Accepted Answer

This is because aggregate planning involves balancing the demand forecast with the available resources in order to achieve the desired level of customer service at the lowest possible cost over a set period of time. It involves making decisions about workforce levels, production rates, and inventory levels in order to meet customer demand while minimizing costs. The other options are related to game theory and supply chain collaboration, which are not the broad concepts that encompass meeting demand and minimizing costs over time.

Meeting Forecasted Demand While Minimizing Costs and Maximizing Customer Service