Materials Requirements Planning Is a Process That Uses Bills of Material

question 77

True/False

Materials requirements planning is a process that uses bills of material, raw material and WIP inventory status data, open order data, and the master production schedule to calculate a time-phased order requirements schedule for materials and subassemblies.

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Definitions:

Risk Taking

The willingness to engage in behaviors that have the potential to be harmful or dangerous, yet also provide the opportunity for some kind of outcome that can be seen as positive.

Facilitating Functions

Activities that help in the smooth exchange of products and services between producers and consumers, such as financing, marketing information management, and logistics.

Channel Intermediaries

Firms or individuals such as wholesalers, agents, brokers, and retailers who help move a product from the producer to the consumer or business user.

Financing

The act of providing funds for business activities, making purchases, or investing.