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Master Production Schedule Operations Management - A Review of the Production Planning Process

#Masterproductionschedule #MPS #Planning #productionplanning In this video, we're going to be discussing the Master Production Schedule (MPS), which is a tool used in Operations Management to manage production schedules. We're also going to be discussing the planning process, which is a vital step in using the MPS. The Master Production Schedule (MPS) is a crucial component of the Materials Requirements Planning (MRP) system. It is a detailed plan that outlines the production schedule for a specific product or product line, based on the demand forecast, production capacity, and inventory levels. The MPS specifies the quantity and timing of production for each finished product, broken down into specific time periods, typically weekly or monthly. It takes into account the availability of raw materials, production resources, and other constraints such as labor, machinery, and lead times. The MPS serves as a blueprint for the entire production process and is used by various departments such as manufacturing, purchasing, and logistics to plan their activities and coordinate their efforts. It helps to ensure that the production schedule is aligned with customer demand, and that the necessary resources are available to meet that demand. Overall, the MPS provides a detailed and comprehensive overview of the production plan, which enables the organization to plan, execute, and monitor the production process effectively. By the end of this video, you'll have a better understanding of the MPS and the planning process, and you'll be able to use them to manage your production schedule more effectively. Thanks for watching! 00:00 Intro 00:18 – Planning Defined 01:15 – Independent Demand 01:39 – Dependent Demand 02:06 – Materials Requirements Planning (MRP) 02:17 – Master Production Schedule (MPS) 02:25 - Aggregate Plan 02:57 - Master Production Schedule Key Terms 05:28 - Master Production Schedule Inputs and Outputs 07:42 - Aggregate Plan and Master Production Schedule Example 09:10 – Key Takeaways Connect with me on Social Media! https://www.derrickhaywood.com/   / drdhaywood     / drdhaywood