Final answer:
The matching of aggregate planning strategies with characteristics demonstrates that level production maintains constant production, chase demand aligns production with fluctuating demand, and a hybrid strategy combines both to balance production.
Step-by-step explanation:
The main answer to the student's question involves matching the correct aggregate planning strategy with its corresponding characteristic. The strategies are Level production - This strategy produces a constant number of units in each time period, regardless of fluctuating customer demand. It enables stable production and workforce levels, helping to control costs but can result in over or under-stocking.Chase demand - This approach matches production to customer demand, varying production levels as demand changes. This method can minimize inventory costs but may result in higher operational costs due to the variability in production rates and workforce levels.Hybrid strategy - This combines elements of both level production and chase demand. By utilizing a combination of level and chase strategies, a company can balance production with demand fluctuations in an effort to control costs and maintain service levels.In conclusion, firms need to match their production strategies to their specific operational goals and market conditions.