Compare and Contrast MRP Systems and Order-Point Systems of Managing

question 44

Essay

Compare and contrast MRP systems and order-point systems of managing inventories.When do firms prefer MRP systems to order-point systems?
Can MRP systems be used while managing capacity in a factory?
Provide sufficient justification for your answer.

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Definitions:

Compact Sediment

Compact sediment refers to sediment that has been compressed over time due to overlying pressure, reducing its porosity and increasing its density.

Groundwater

Water that collects or flows beneath the Earth's surface, filling the porous spaces in soil, sediment, and rocks.

Groundwater

Water that fills the cracks and spaces in underground soil and rock layers, accounting for a significant portion of the Earth's fresh water.

Saltation

A process in which wind-blown or water-borne particles are lifted briefly into the air or water and then settle back down, causing a hopping or skipping motion.