A Computerized Inventory System That Simulates Needed Materials Requirements for the Finishedproduct

question 36

Multiple Choice

A computerized inventory system that simulates needed materials requirements for the finishedproduct, and then compares production needs to available inventory balances to determine whenorders should be placed is the

• A) just-in-time system.
• B) materials requirement planning system.
• C) red-line method.
• D) basic economic order quantity system.

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Definitions:

Significant Want

A strong desire or need that is considered important or of great consequence.

After-Tax Profits

The net income a company remains with after all taxes have been deducted from its earnings.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage. It represents the proportion of each dollar of revenue that the company retains as gross profit.

Harvest Issue

A problem or challenge encountered during the collection or gathering of agricultural crops.