MRP Requires Information on Inventory on Hand,open Orders and Lead

question 52

True/False

MRP requires information on inventory on hand,open orders and lead times and purchase orders for each item in stock.

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Definitions:

Oral Agreement

A verbal commitment between parties that is not recorded in written form but may still be legally binding.

Collateral

Assets pledged by a borrower to secure a loan or other credit, and subject to seizure on default.

Original

In legal and official documents, "original" refers to the first form or version of a document that has not been copied, altered, or replicated.

Obligation

A legal or moral duty to do or refrain from doing something.