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Course Description

The risk associated with producing short-lifecycle items changes as businesses collect more information about consumer demand. Throughout an item’s lifecycle, production shifts from speculative to reactive. In other words, as consumers purchase a product after its initial launch, production becomes less speculative and aligns with actual demand. This lesson will examine managing production for multiple items when capacities vary. First, you will explore how to use risk ranking as a framework to choose the best sequence for item production. In examining this process step-by-step, you will start by selecting items using the risk ranking index. You will then practice calculating the risk ranking index and, finally, will make decisions based on your calculations. For the best result, complete "Optimize Production Capacity Allocation Decisions: Determine the Optimal Production Quantity Without Capacity Limit" and "Optimize Production Capacity Allocation Decisions: Determine the Optimal Production Quantity for Multiple Products With Capacity Limit" prior to taking this lesson.

Benefits to the Learner

  • Choose the right items to produce in different batches to reduce risk
  • Determine the optimal production quantity for each batch
  • Improve operational efficiency through capacity management
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Type
self-paced (non-instructor led)
Dates
Sep 28, 2023 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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