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A working MRP system allows a firm to react to even minor changes in production requirements. Discuss both the advantages and disadvantages of having such ability.
Total Processing Time
The sum of the time periods required to complete all stages of a manufacturing or production process.
Work Centre
A specific location where work tasks within a production process are carried out, often consisting of people, machines, and materials.
FCFS Dispatching Rule
First-Come, First-Served dispatching rule; a method of process queuing in which tasks are tackled in the order of their arrival.
Services
Intangible products such as maintenance, repair, advice, or entertainment that are consumed at the point of delivery.
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