1Sales and Operations Planning
a process to develop tactical plans by integrating customer focused marketing plans for new and existing products with the operational management of the supply chain
2Rolling Planning Horizon
Replan each period (month or quarter) for a given # of periods into the future
3Analytics
the application of sophisticated operations research techniques to big data with the goal of identifying, interpreting, and communicating meaningful patterns in the data
4Big Data
large data sets generated by tech such as social media and the IoT
5Internet of Things (IoT)
the network of physical devices that are embedded with sensors, software, and connectivity that enable data exchange and analysis
6Blockchain
decentralized, distributed, and public digital ledger that is used to record transactions across many computers so that the record cannot be altered w/o agreement of all network participants
7Aggregate Production Planning
specifies the production rates, inventory, employment levels, backlogs, possible subcontracting, and other resources needed to meet the sales plan
8Level Production Strategy
the firm produces at a constant rate over the year
9Chase Strategy
the production rate is changed each period to match the amount of expected demand
10Hybrid Strategy
a strategy that includes some elements of level production and some elements of chase production strategies
11Yield Management
a process that adjusts prices as demand for a service occurs' (or doesn't occur)
12Dynamic Pricing
the practice of rapidly adjusting prices to increase, decrease, or shift demand in a given period