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) Collaborative planning
C) Supply chain management
D) Value chain management

Question

Quizplus · Accepted Answer

Aggregate planning involves balancing the demand for goods or services with the available resources and capacities of an organization over a certain period of time. It aims to achieve the desired level of customer service at the lowest possible cost by adjusting production, inventory levels, and workforce size based on demand forecasts. Collaborative planning, supply chain management, and value chain management are all related to aggregate planning but focus on specific aspects of it such as coordinating activities with partners, optimizing the entire supply chain, and adding value to the product or service.

Meeting Forecasted Demand While Minimizing Costs and Maximizing Customer Service