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Table 8-12
-Refer to Table 8-12.Consider the following data on nominal GDP and real GDP (values are in billions of dollars) : The base year used in calculating real GDP is
Dependent Demand
The demand for a product that is directly linked to the demand for another product, such as the demand for parts or raw materials needed to produce a final product.
MRP
Material Requirements Planning, a production planning, scheduling, and inventory control system used to manage manufacturing processes.
Phantom Bills
Virtual or imaginary bills of materials used for planning and process mapping without affecting actual inventory.
Bills Of Material
A comprehensive list detailing all raw materials, components, and assemblies required to produce a finished product.
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