Examlex
Which of the following statements is FALSE?
Reduced Inventory Levels
Refers to the strategy of keeping the stock of goods to a minimum to reduce holding costs and increase efficiency.
Faster Response
The ability to react quickly to changes, demands, or problems, often used in the context of customer service, manufacturing, or emergency situations.
MRP
Material Requirements Planning, a system that calculates the materials and components needed to manufacture a product.
Master Production Schedule
A plan for individual commodities to be produced in each time period, including inventory levels, production, and backorder quantities.
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