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How can you balance inventory, capacity, and customer service in production planning?

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Production planning is the process of determining how much, when, and where to produce goods or services to meet customer demand. It involves balancing inventory, capacity, and customer service levels to optimize efficiency, quality, and profitability. In this article, you will learn some key concepts and strategies to achieve this balance in your manufacturing operations.

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Hassan Ali

End to End Supply Chain Management and Manufacturing
Prashastha Sagar Ongole

Results-Driven Manufacturing Operations Leader | Driving Efficiency, Quality, Food Safety in Food Manufacturing |…

1 Inventory Management

Inventory is the stock of raw materials, work-in-progress, and finished goods that you have on hand or in transit. Inventory management is the practice of controlling the quantity, location, and flow of inventory to avoid excess or shortage. Excess inventory can increase costs, waste, and obsolescence, while shortage can lead to stockouts, backorders, and lost sales. To manage inventory effectively, you need to forecast demand, track inventory levels, and replenish inventory according to your production plan.

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Hassan Ali

End to End Supply Chain Management and Manufacturing
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Clear example of inventory management is to have clear IPM (Inventory Planning Model) that determine the stock norms should be carried which statistical model that incorporated supply and demand variabilities and set the exact service level the firm is targeting, output of this model is a suggestion of safety stock that should be carried to cater for all above variabilities and cycle stock where normal consumption is. One more important angle is always tracking Inventory Loss Tree, where you track excess stock that blocks cash and generates business waste. Inventory should be also having clear KPIs linked to cash from one side as exact value coming from company balance sheet and Inventory days on hand that shows Inventory turns.

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Prashastha Sagar Ongole

Results-Driven Manufacturing Operations Leader | Driving Efficiency, Quality, Food Safety in Food Manufacturing | Process Improvement & Lean Expertise | FSMS
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Forecast customer demand using historical data and customer feedback. Maintain safety stock based on ROQs to prevent stockouts. Implement lean manufacturing (OEE), Regularly assess production capacity and address short-term and long-term constraints. Reduce lead times in your supply chain. Utilize efficient production planning based on the ROPs and categorize products as A, B, or C based on demand. Continually review and improve production processes and inventory management. Leverage technology and data analytics through ERP for informed decisions. Monitor KPIs like Fillrates for performance assessment. Balancing inventory, capacity,and customer service is an continuous process.

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2 Capacity Planning

Capacity is the maximum amount of output that your production system can produce in a given time period. Capacity planning is the process of estimating the required capacity to meet the expected demand and adjusting the production resources accordingly. Capacity planning can be done at different levels, such as strategic, tactical, or operational, depending on the time horizon and the degree of detail. To plan capacity effectively, you need to measure your current capacity, identify your capacity constraints, and evaluate your capacity alternatives.

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Hassan Ali

End to End Supply Chain Management and Manufacturing
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Clear tool to use is MPS (Master Production Schedule) where you define your assets capacities against demand define the bottle necks and try maneuvering with balancing the supply throughout planning horizon, specially when there's seasonality factor in some industries. Capacity investment is a clear output when the regular demand hits Capacity threshold which should be demonstrated for long periods to make sure that investment solidfy, in the peaks there will always options of toll manufacturing to cover for over flow capacities and increase agility.

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3 Customer Service Level

Customer service level is the measure of how well you satisfy your customers' expectations and needs. Customer service level can be expressed in terms of availability, responsiveness, reliability, or quality. Customer service level is influenced by your inventory and capacity decisions, as well as your order fulfillment and delivery processes. To improve customer service level, you need to align your production plan with your customer segments, priorities, and preferences, and monitor your performance indicators.

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Hassan Ali

End to End Supply Chain Management and Manufacturing
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Customer service always starts with customer collaboration, so understanding customer needs it key point to start the journey where simply question should be asked to your customers "how we can serve you better?". While all focus on customer service (service level) points mentioned, cost to serve is very important angle to make sure of the profitability.

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4 Production Planning Strategies

Production planning strategies are the approaches that you use to balance inventory, capacity, and customer service level in your production plan. There are different types of production planning strategies, such as make-to-stock, make-to-order, assemble-to-order, or engineer-to-order, depending on the degree of customization and the timing of production. Each strategy has its own advantages and disadvantages, and you need to choose the one that best suits your product characteristics, market conditions, and competitive advantages.

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5 Production Scheduling Methods

Production scheduling is the process of assigning specific tasks, resources, and time slots to execute your production plan. Production scheduling is essential to coordinate your production activities, optimize your resource utilization, and meet your delivery deadlines. There are different methods of production scheduling, such as backward scheduling, forward scheduling, finite scheduling, or infinite scheduling, depending on the direction, capacity, and flexibility of your scheduling process. Each method has its own benefits and drawbacks, and you need to select the one that best fits your production environment, constraints, and objectives.

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6 Production Planning Tools

Production planning tools are the software applications or systems that help you perform your production planning and scheduling tasks. Production planning tools can help you automate your data collection, analysis, and reporting, improve your visibility and communication, and enhance your decision making and problem solving. Some examples of production planning tools are enterprise resource planning (ERP), material requirements planning (MRP), manufacturing execution system (MES), or advanced planning and scheduling (APS). You need to evaluate your production planning needs, requirements, and budget, and choose the tool that best supports your production planning goals.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you balance inventory, capacity, and customer service in production planning?

1

2

3

4

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1 Inventory Management

2 Capacity Planning

3 Customer Service Level

4 Production Planning Strategies

5 Production Scheduling Methods

6 Production Planning Tools

7 Here’s what else to consider

Manufacturing Operations

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How can you balance inventory, capacity, and customer service in production planning?

1

2

3

4

5

6

7

1 Inventory Management

2 Capacity Planning

3 Customer Service Level

4 Production Planning Strategies

5 Production Scheduling Methods

6 Production Planning Tools

7 Here’s what else to consider

Manufacturing Operations

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