The Three Main Inputs of a Material Requirements Planning MRP)

question 2

Multiple Choice

The three main inputs of a material requirements planning MRP) system are:

• A) an accurate bill of material, a master production schedule, and the inventory record.
• B) required human resources, required machine resources, and available resources.
• C) required manufacturing resources, a master production schedule, and required human resources.
• D) results from Pareto analysis, inventory records and a master production schedule.
• E) inventory records, annual sales forecast, and a master production schedule.

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Definitions:

Excludes Liability

A clause or agreement that absolves one party from legal responsibility or damages in specific circumstances.

Fraud

Wrongful or criminal deception intended to result in financial or personal gain.

Equal Bargaining Power

The situation in which all parties involved in a negotiation or agreement have similar negotiating strength and no one side has undue influence over the other.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, even though the parties involved did not enter into a contractual agreement.