Exhibit 15.2 The Following Questions Employ the AON Network and Completed Spreadsheet

question 15

Multiple Choice

Exhibit 15.2
The following questions employ the AON network and completed spreadsheet below.
-Which of the following definitions correctly defines the acronym, PERT?

• A) Program Evaluation and Review Technique.
• B) Process Evaluation and Review Technique.
• C) Program Evaluation and Reduction Technique.
• D) Program Explanation and Reduction Technique.

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Definitions:

MRP Tables

Tables used in Material Requirements Planning, showcasing schedules for when materials are needed in the manufacturing process to meet production goals.

Bill of Material

An exhaustive inventory of all raw materials, parts, and assemblies required to produce or mend a product or service.

Lot-For-Lot

An inventory management strategy where the order quantity is set to match the exact demand for the product, minimizing stock levels.

Lot Sizing

The determination of the optimal quantity of units to produce or order in a single batch, considering factors like demand, production costs, and storage capacity.