You are here

Techniques for Managing Resources

15 January, 2016 - 09:16

One resource management technique is resource leveling. It aims at smoothing the stock of resources on hand, reducing both excess inventories and shortages.

The required data are the demands for various resources, forecast by time period into the future as far as is reasonable; the resources’ configurations required in those demands; and the supply of the resources, again forecast by time period into the future as far as is reasonable.

The goal is to achieve 100% utilization. However that is very unlikely, when weighted by important metrics and subject to constraints; for example: meeting a minimum quality level, but otherwise minimizing cost.