Management and Organizational Studies 3330A/B Lecture Notes - Lecture 5: Everytime, Learning Curve, Decision Tree Learning

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3330A/B
• Professor: jennifer

Document Summary

For e(cid:454)a(cid:373)ple: (cid:862)i(cid:374) the (cid:374)e(cid:454)t (cid:373)o(cid:374)th, ho(cid:449) (cid:373)a(cid:374)(cid:455) (cid:449)idgets (cid:272)a(cid:374) our fa(cid:272)tor(cid:455) (cid:373)ake? (cid:863) Strategic capacity planning: approach to determine overall capacity level of capital intensive resources to best support (cid:272)o(cid:373)pa(cid:374)(cid:455)"s lo(cid:374)g-range competitive strategy, capital intensive resources include: facilities, equipment priority focus! This can give you an edge in the marketplace: companies can also focus on narrow set of production objectives (focused factory) or segment factory based on narrower objectives (plant within a plant), depending on plant area(s) of expertise. The three step procedure for making capacity planning decisions is as follows: Identify capacity requirements: develop capacity alternative, evaluate capacity alternatives. Forecasting & strategic planning: consider short and long term demand based on strategic planning input, size of capacity cushion* you want to have. Evaluate capacity alternatives: this include (cid:272)o(cid:374)(cid:272)epts like (cid:862)do (cid:374)othi(cid:374)g,(cid:863) (cid:862)(cid:373)o(cid:448)e a(cid:374)d e(cid:454)pa(cid:374)d,(cid:863) (cid:862)sta(cid:455) (cid:271)ut e(cid:454)pa(cid:374)d,(cid:863) (cid:862)(cid:272)o(cid:374)tra(cid:272)t(cid:863), et(cid:272), use decision support aids to evaluate decisions, decision trees are a popular approach.