The Operations Planning Practice of Using Sales Forecasts Created by a Computer

question 164

Multiple Choice

The operations planning practice of using sales forecasts created by a computer to accurately predict the amount and timing of materials needed to complete products and projects is

• A) enterprise resource planning.
• B) materials requirement planning.
• C) virtual accuracy tool.
• D) computer-based materials model.

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Definitions:

Controlling

In management, controlling refers to the process of monitoring performance, comparing it with goals, and taking corrective action as needed to ensure that objectives are achieved.

Pricing

The process of determining the value that will be charged for a product or service.

Primary Functions

The main or core activities that are essential for the operation of a business or organization.

Organizations

Entities comprising of individuals working together towards a common goal or objective, structured and managed to meet a need or to pursue collective goals.