ENTREPRENEURIAL OPERATIONS
PRODUCTION PLANNING AND CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Forecasting
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Sales and Operations Planning
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Demand Management
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Planned Independent Requirement
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Detailed explanation-1: -Purpose. Sales & Operations Planning (SOP) is a flexible forecasting and planning tool with which sales, production, and other supply chain targets can be set on the basis of historical, existing, and estimated future data.
Detailed explanation-2: -It ties together demand, supply, and financial planning as part of a company’s master planning. Sales and operations planning is essential to the supply chain because it creates a view for future operations and holds people accountable for data that impacts your bottom line.
Detailed explanation-3: -SOP supports a process in which various enterprise areas can reconcile and synchronize their plans, such as demand, sales, and procurement plans. The aim of this process is to create a company-wide demand and procurement plan that corresponds to the strategic aims of the company.