• Chase Strategy • Level Strategy • Mixed Strategy 4 5 CHASE STRATEGY A Chase Strategy is a strategy aimed at adjusting capacity in anticipation of demand It is basically "Chasing demand" by doing it dynamically and quickly Demand Units Time Production 5 6The inputs used to develop the plan include demand forecast, capacity, inventory levels and workforce size Once the aggregate plan has been developed to give an overall production rate for the planning period, it is handed to production personnel There are two main aggregate planning methods and strategies the chase strategy and levelIn this rundown of the juggling feat service managers perform, the author discusses the two basic strategies—"chase demand" and "level capacity"—available to most service companies
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Level capacity or chase demand
Level capacity or chase demand-An essential disadvantage of level strategy is building up inventory costs during the lean period when the demand is low 2 Chase strategy The chase strategy of aggregate planning puts its onus on reducing inventory It keeps pace with demand fluctuations by varying either actual level of output or the workforce numberAggregate Planning level capacity and chase demand strategy Add Remove This content was COPIED from BrainMasscom View the original, and get the alreadycompleted solution here!
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A small manufacturing plant is considering their aggregate plan for the next fiscal year They are limited to a maximum number of 40 FTEs each quarterChase demand strategy Matching capacity to demand;Capacity planning is a strategic process whereby a company determines what level of capacity it will need to satisfy the level of demand for its products or services over a period of time Three
Statement A A Chase Demand aggregate planning strategy has the most control over Labor Statement B A Level Capacity aggregate planning strategy has the most control over Inventory Statement CUp to15%cash backlearn about the range of capacity management strategies that are available In order, the six steps in the demand forecasting process are establish purpose, select items, determine time horizons, select model, gather data and make forecast, and validate results Three strategies are Level strategy, Chase Demand strategy, and Demand ManagementDemand and capacity 3/9/14 11 Demand Options Chase strategy Cumulative level production using average monthly forecast requirements Reduction of inventory Excess inventory Planning Example 2 Table 132 Month Expected Demand
This revision video provides an overview of the concept of capacity, capacity utilisation and some of the issues facing businesses operating at low or high uUnder the chase strategy, production is varied as demand varies With the level strategy, production remains at a constant level in spite of demand variations In companies that produce to stock, this means that finished goods inventory levels will grow during low demand periods and decrease during high demand periodsThe chase capacity strategy implies matching demand and capacity period by period (Chase and Aquilano, 1985) In the chase capacity strategy, workforce levels are adjusted through the process of hiring, firing or lay off of production employees to produce output levels to match demand requirements In situations of high demand
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Chase Capacity Management Opposite to the level capacity management is the chase capacity, " organisations could decide to match capacity and demand by altering the availability of resources This might be achieved by employing more people when it is busy and adopting strategies such as overtime and additional shiftsCompare and contrast the level and chase aggregate plans These plans are similar since both plans ensure that demand is met However, they meet demand in different ways A level plan maintains the same workforce size and equipment, thus producing the same amount of product each time periodFor instance, if the skill level and training required was low, a chase demand strategy was recommended Heskett et al expanded on Sasser's work to include a third alternative – "modified" chasedemand This was for the cases where a service did not fit neatly into either chasedemand or levelcapacity
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Up to12%cash backUnder the chase strategy, production is varied as demand varies With the level strategy, production remains at a constant level in spite of demand variations The use of a level strategy means that a company will produce at a constant rate regardless of the demand level In companies that produce to stock, this means that finished goodsFigure Level Capacity Plan Figure shows the level capacity plan of a company manufacturing a product on produce to stock and sell basis In the first quarter aggregate demand is less than production and inventory builds up till the end of the First Quarters in the second third and fourth quarters are inventory levels Decline becauseIgnoring the fluctuations and keeping activity levels constant (Level Capacity Plan) 2) Adjust capacity to reflect the fluctuations in demand (Chase Demand Plan) 3) Attempt to change demand to fit capacity availability (Demand Management) Economies of Scale As a plant gets larger, the average cost per unit drops
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The strategy used is Level Strategy (variation amount of inventory) and Chase Strategy (variation of the number of employees) Aggregate planning aims to increase the load facility, adequacy test capacity to meet existing demand, capacity planning changes to meet fluctuations in demand and get the best solutions with the resources availableThe Aggregate Planning Problem •Given the demand forecast for each period in the planning horizon •Determine the production level, inventory level, and the capacity level for each period that maximizes the firm's (supply chain's) profit over the planning horizon •Specify the planning horizon (typically 318• An aggregated level of demand for one or few categories of product • The possibility of changing both supply and demand Chase versus Level Strategy Chase Demand Level Capacity Level of labor skill required Low High Job discretion Low High Compensation rate Low High
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Chapter 11 Managing Capacity And Demand Chapter 11 Managing Capacity And Demand Service Capacity Is A Perishable Commodity For Example A Plane Flying Course Hero
Demand forecasting is the art and science of forecasting customer demand to drive holistic execution of such demand by corporate supply chain and business management Demand forecasting involves techniques including both informal methods, such as educated guesses, and quantitative methods, such as the use of historical sales data and statistical techniques orThe planned output for a period is set at the expected demand for that period Maintain a steady output rate Match demand period by period Use a combination of decision variables Basic Strategies Level capacity strategy Maintaining a steady rate of regulartime output while meetingSafety How works Test new features Press Copyright Contact us Creators
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