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5.7 Production planning - notes

In previous sections, we looked at production methods, costs and revenues, break-even analysis, quality assurance methods and innovation. In this section we will examine production planning.

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By the end of this section you should be able to:

  • Explain the difference between just-in-case and just-in-time

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  • Recognise the need for optimum stock levels; prepare and analyse appropriate graphs
  • Explain different stock control methods and analyse the appropriateness of each method in a given situation
  • Explain outsourcing and subcontracting
  • Discuss the arguments for and against outsourcing and subcontracting, compared with provision by the firm itself
  • Make appropriate calculations to support a decision whether to make or buy