Material Requirements Planning (MRP) Systems

question 98

Multiple Choice

Material requirements planning (MRP) systems:

• A)are an important element in JIT programs.
• B)can be used to forecast sales.
• C)can be used to develop production schedules.
• D)will minimize costs by scheduling delivery dates that minimize the amount of inventory needed.
• E)are described by all of the above

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Definitions:

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often resulting in the exchange of products, services, ideas, and culture.

Managers

Individuals responsible for directing and overseeing the operations and employees within an organization.

Implementation Phase

The implementation phase refers to the stage in a project or strategy where plans are executed and the concept is turned into reality.

Codes Of Ethics

Written guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards.