What Are the Two Types of Skill Plans

question 31

Essay

What are the two types of skill plans?

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Definitions:

MRP

Material Requirements Planning; a system that calculates the materials and components needed to manufacture a product.

ERP

Enterprise Resource Planning; a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management, and supply chain operations.

POM Planning

Production and Operations Management Planning, involving the organization and coordination of manufacturing, production, and operations processes.

FAIS

The Financial Advisory and Intermediary Services Act, legislation aimed to regulate the offering of certain financial advisory and intermediary services to customers.