Successful Implementation of an Effective MRP System Depends Upon: (1)the

question 30

Multiple Choice

Successful implementation of an effective MRP system depends upon: (1) the recognition of the difference between independent and dependent demand, and (2)

• A)computers.
• B)development of the EOQ model.
• C)inventory control systems.
• D)blanket purchase orders.
• E)the Internet.

Understand the rights of successive assignees under the Restatement.

Analyze the legal status and rights of third-party beneficiaries.

Comprehend the legal implications of revocability and irrevocability in assignments.

Recognize the role of consideration in the validity of an assignment.

---

Definitions:

Entrepreneur

A person who organizes, manages, and assumes the risks of a business or enterprise, often seen as an innovator or source of new ideas.

Resource Allocator

A role typically assumed by managers or leaders, involving the responsibility of distributing and managing resources within an organization efficiently.

Contingency Approach

The Contingency Approach refers to a management theory that suggests the best way to manage an organization depends on, and is contingent upon, the internal and external situation.

Managerial Activities

Tasks and responsibilities undertaken by managers to plan, organize, lead, and control the operations of an organization.