What Is the Key Difference Between the MRP and JIT

question 8

Multiple Choice

What is the key difference between the MRP and JIT inventory management approaches?

• A)Only JIT reduces costs and improves efficiency.
• B)MRP is especially useful for products such as fashion apparel.
• C)JIT is more effectively used with products that have predictable patterns of demand.
• D)MRP schedules production to meet estimated sales needs;JIT schedules production to meet customer demands.

Comprehend the make-or-buy decision process and its relevance in a manufacturing business.

Recognize common mistakes made in writing business plans, including financial commitment aspects.

Grasp the nature and limitations of projected financial statements.

Understand the role of a business plan in demonstrating a business owner's knowledge level.

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Definitions:

Swelling

An abnormal enlargement of a part of the body, typically as a result of an accumulation of fluid.

Spleen

Large, glandular organ located in the upper left region of the abdomen; stores and filters blood.

Antibiotic Therapy

The use of antibiotics to treat bacterial infections.

Anemia

A condition characterized by a deficiency of red blood cells or hemoglobin in the blood, leading to fatigue and weakness.