Unit 5.6 - Production Planning [HL only]
What you need to know and understand:
- The local and global supply chain process
- The difference between JIT and just-in-case (JIC)
- Stock control charts based on the following
- Lead time
- Buffer stock
- Reorder level
- Reorder quantity
- Lead time
- Capacity utilization rate
- Defect rate
- Labor productivity, capital productivity, productivity rate, operating leverage
- Cost to buy (CTB)
- Cost to make (CTM)
Conceptual Understandings:
- Change in operations impacts other business activities
- Creative production process can disrupt the market
- Operational business changes may affect its ethical stance
- Sustainability ensures efficiency in business operations
Questions to consider:
- To what extent are our ideas dependent on our interactions with other people?
- To what extent can the human sciences provide accurate predictions?
- How might the methods used in R&D be limited by ethical considerations
- Should we hold companies responsible for the applications of products they create?
- Are there new ethical challenges emerging from the increased use of data analytics in business decision-making?
- To what extent do the classification systems we use in data analytics affect the conclusions that we reach?
- How might personal prejudices, biases and inequality become “coded into” customer loyalty programs?
- To what extent is big data changing what it means to know your customers?
- Does artificial intelligence allow knowledge to reside outside of human knowers?
- What are the moral implications of possessing large amounts of information about consumer behavior?
TEXTBOOK unit 5.6
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