The MRP Process of Determining Requirements for Lower Level Items

question 74

Multiple Choice

The MRP process of determining requirements for lower level items based on the master production schedule is referred to as

• A)lot sizing.
• B)netting.
• C)backward scheduling.
• D)exploding.

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Definitions:

Elastic

describes a situation where the quantity demanded or supplied changes significantly in response to price changes.

Total Revenue

The entire amount of income generated by the sale of goods or services before any expenses are deducted.

Price Lowered

A reduction in the cost of goods or services.

Total Revenue

The total amount of money a firm receives from sales of its products or services before any expenses are subtracted.