Operations Management

Definition: Aggregate Planning in Operations Management determines production and resource allocation strategies to meet the uncertain and fluctuating future demand at minimum production cost for the Intermediate Time Horizon. Here, the word 'Aggregate' signifies the product lines and families. And 'Planning' covers the series of activities to be taken in order to meet the … [Read more...] about Aggregate Planning in Operations Management

Definition: Assembly Line Balancing (ALB) optimizes the mass production process by dividing tasks into workstations and allocating equal processing time to each one without any delay. The assembly line in which the workstations have equal processing time with less or no ideal time is said to be a perfect one. It must be balanced in order to ease the manufacturing … [Read more...] about Assembly Line Balancing

Definition: Location Analysis Techniques are the methods that critically evaluate location alternatives to select an ideal location for the Plant or Industry. These are the tools used by the organizations for decision-making while locating a plant or facility. Location techniques are a systematic approach for choosing the most desirable location alternative. It strives to … [Read more...] about Location Analysis Techniques

Definition: Location Decision in operation management is finding an ideal geographical region to install a Facility or Plant. It is a vital component in facility planning as it greatly impacts the organization's Profitability, Cost and Success. In other words, the decision about the area for locating a facility is the Location Decision. It is also termed as Facility Location … [Read more...] about Location Decision