Production Planning Strategy

669 Words2 Pages
bulb-icon

Recommended: Importanceof logistics management

Many organizations currently utilize production plan strategies in an effort to win the future market which has promising outcomes due to the high rate of demand on the consumer goods and services. With a clear understanding of the good marketing plan strategies the business owners are able to come up with good proposals concerning the future projects and through proper follow up and consultation the plan ends up making high profits for the organization. The production plan strategies come in different formats and it is the responsibility of the organization to choose the best format which suites their product and expectations. The benefits of the production plan strategy have also been highlighted in the essay.

Production planning strategy

All activities in our daily life occur according to a certain plan. Production planning involves making prior decisions on how to carry out a certain strategy in a business which involves: the material to produce, the period of production, and the exact location to carry out the production process. A well designed plan with good understanding of the future outcomes helps to avoid failure due to uncertainties. Production planning aims at looking ahead and estimating the type of resources required in an organization and then coming up with the proper arrangements which enables attainment of the set production targets in the proposed plan (MBA Knowledge Base, 2011). Production planning strategy therefore involves coming up with ways and means of achieving the above objectives. To implement the plan, the organizing group has to be equipped with the information on the complete data of the product which includes; the expected operations, market research, and the methodology to be put in place. T...

... middle of paper ...

...e key success to a business venture since it gives the direction on how to execute the business activities well and compete in the international markets (BDC, 2011).

References List

BDC. (2011). What Makes a good Production Plan. Retrieved from:

http://www.bdc.ca/en/advice_centre/articles/Pages/production_planning_plan.aspx

Dickersbach, T. (2009). Supply Chain Management with APO: Using Production Planning

Strategy. New York: Springer-Verlag Berlin Heidelberg. p 85

MBA Knowledge Base. (2011). Production planning – Definition. MBA Knowledge Base.

Retrieved from: http://www.mbaknol.com/operations-management/production-planning-definition-objectives-and-levels/

Vollmann, Thomas E., William L. Berry, Clay D. Whybark, and F. Robert Jacobs. (2005).

Manufacturing Planning and Control for Supply Chain Management. New York: Irwin McGraw-Hill. 5th ed.

Show More
Related

  • Evaluating the Role of Evaluation in Employee Development

    955 Words  | 2 Pages

    (Yoder-Wise, 2015) During the process of planning you need to assess your internal and external environment, identify any opportunities and threats. Then you want to create your plan and identify your goals and objectives, implement the plan and lastly you evaluate and make any necessary changes. In strategic marketing, you want to identify your target market and research it. When planning you identify your strategies and objectives you identify what services you will provide and at what cost an how you’re going to market your plan. You can evaluate by getting feedback from consumers through different

    Read More

  • Swot Analysis Of Co-Op

    2220 Words  | 5 Pages

    The co-operating business recently failed to maintain its reputation, thus the business tries to making and implanting a new marketing plan. This marketing plan contains its objectives, situational analysis, target market, market segmentation, marketing strategy and marketing mix, implementation and control. First it find its objectives which the business is, and which it want to be. Then it find the strength, opportunities and weakness and thread then represent the target market and customer and define the market segmentation. Then it formulate it strategy to capture the target market. Lastly it described the implementation and control procedures.

    Read More

  • Analysis and Description of McDonalds’ Dollar Menu

    1662 Words  | 4 Pages

    Malcolm McDonald, Hugh Wilson (2011) Marketing Plans: How to Prepare Them, How to Use Them John Wiley & Sons

    Read More

  • Importance Of Company Wide Strategic Planning

    932 Words  | 2 Pages

    A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.

    Read More

  • The Three Cs Structure in Order to Define the Role of Marketing Strategy

    864 Words  | 2 Pages

    In this essay, the venture project “Yumm” company will be taken as an example to discuss through the three Cs structure in order to define the role of marketing strategy and planning in a business. A conclusion will be drawn at the end.

    Read More

  • Case Study: Six Magma, The House Of Quality Matrix

    1107 Words  | 3 Pages

    The assigned reading for forum 8 discussed operations management. The text provided significant discussion around TPS, Six Sigma, the House of Quality Matrix. Further study included the stages of product development, project management process, and supply chain management. According to Satterlee (2013), operations management considers the acquisition, development, and utilization of resources. Determining the location of manufacturing plants, supply chains, production management, production scheduling, inventory management, and equipment maintenance policies are all decisions that are made by operations management.

    Read More

  • Operational Planning For Wal-Mart

    1617 Words  | 4 Pages

    Once plans have been developed, an organization must address how management will be accomplishing be those plans. This involves operational plans that must flow from strategy; specify resource, time issues, and commitment of human resources. Operational plans at the lower - levels of the organization, have a shorter time horizon, and are narrower in scope (Bateman, Snell 2003 p.113). A good example of this is Wal-Mart's main strategic goal. It is to provide quality merchandise at an affordable low cost to consumers. Its operational goals focus on efficient logistics requiring technology and inventory management systems to help reduce costs so it can be passed on to the customer. Operational plans are derived from a tactical plan and are aimed at achieving one or more operational goals (Bateman, Snell 2003 p.113).

    Read More

  • Strategic and Operational Plan: Best Buy

    1715 Words  | 4 Pages

    Strategic planning directs every movement in a business and is very essential to business performance (London 2002, pp.26-33). The strategic plan and operational plan are extracted from Best Buy Form 10K to better clarify the current situation and future direction of Best Buy.

    Read More

  • Business Planning In Business

    1033 Words  | 3 Pages

    To plan is to create an outline of a businesses organisational objectives or aims, as well as how to achieve those aims and should be a framework of what needs to be completed when and how to achieve it, (Robbins, S, Decenzo, D, Coulter, M&Woods, M, 2014). Ensuring that businesses or organisations have a formal business plan is important because a good plan reduces a manager’s uncertainty in change, details how to manage or how to respond to change and reduces inefficient activities thus ensuring confident control and productivity, (Robbins, S, et al., 2014). By formally planning, a manager is limiting the chance of failure, thus without planning you cannot succeed. When there is a succinct plan in place, members of an organisation are all working towards set goals and are able to coordinate their activities to achieve these goals. A lack of planning can lead to an organisation’s members working in opposite directions and this keeps the organisation from reaching its goals (Robbins, S, et al.,...

    Read More

  • Sales And Operations Planning Process Analysis

    883 Words  | 2 Pages

    The term sales and operations planning has been used by many firms or companies to refer to the process that helps them keep demand and supply in balance. In operations management(OM), we have conventionally called this process aggregate planning. The sales and operations planning process consist of a chain of meetings, concluding with a high level meeting where key midway decisions are made. The ending goal is conformity between different departments on the best course of action to achieve the optimal balance between supply and demand . The idea is to put the operational plan in line with the business plan. In other words utilizing the cross functional forecast review team, to examine the changing dynamics that are impacting business strategies, tactical planning, manufacturing and profitability (Kirk & Chase 1996).

    Read More

  • Analysis Of Coffee Bean And Tea Leaf

    916 Words  | 2 Pages

    “Marketing plan designs specific action programs that implement the desired strategy” (Walter & Dana, 2007,pp. 50). This marketing plan will look after the company’s vision, mission and values. Then, it will go on to the situation analysis where in it will discuss the competitiveness of the company among the others using the SWOT, PESTEL and Porter’s analysis. Next, it will move on to the objective of the company that will be presented and it will go on to the marketing mix strategies that need to be applied by the company in order to achieve the desired outcomes. Finally, it will present the budget to complete the effectiveness

    Read More

  • Management Concepts

    516 Words  | 2 Pages

    Planning entails Decision making on what needs to happen in the future and generating strategy for action. As a good manager, determination of organizational goals and methods of achieving those goals is very important. Planning requires the administration to appraise where the company presently is and where it would be in the future and therefore, an appropriate course of action is determined and executed to attain the company's vision and mission. Management analyses internal and external factors that may affect the company, hence the need for strategic planning arises. Under the strategic plan, a SWOT analysis is carried out to find out the Strengths and weaknesses of the organization, identification of opportunity stretch and preventive...

    Read More

  • The Role of Situation Analysis in Marketing Plan

    1566 Words  | 4 Pages

    Facing to more complex business environment, systematically marketing plans are important to organizations in terms of maintaining a high level of operating efficiency and achieving goals fully. According to Sally and John (1996:3), marketing plans are “the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy” (Sally, D., Lyndon S., & John, B., 1996: 3). A successful marketing plan is able to improve organizations’ profits and growth, uses in objective setting and monitors results (Subash Jain, Michael D. Clemes, Gregory Brush, 2008: 5)

    Read More

  • Importance Of Operational Planning

    825 Words  | 2 Pages

    Operational planning is what drives strategic planning goals to a success. On a day to day basis, operational plans are being communicated and decisions are being made. Operational planning is important because it leads to the goals and visions of the organization and by doing that, operational plans must be made daily to keep the organization competitive in the market. Friend & Zehle (2004) discuss operational plans central to the allocation of resources, it uses inputs to scale operations in order to deliver information about all stages of the primary value chain activies and the support of those activities. Without operational plans, an organization would have no way to reach its goals that were set. The market is changing constantly and operational plans help keep organizations making effective

    Read More

  • Company-Wide Strategic Planning

    935 Words  | 2 Pages

    A marketer doesn’t just have a plan. Marketers have now opened up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls, therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.

    Read More

More about Production Planning Strategy

Open Document