A Packaged Data Model Can Either Be ________ or ________

question 8

Short Answer

A packaged data model can either be ________ or ________.

Develop Material Requirement Planning (MRP) tables for products and components.

Compare and contrast MRP systems between services and manufacturing.

Understand various lot-sizing algorithms and their advantages/disadvantages.

Define and distinguish between Distribution Requirement Planning (DRP) and Enterprise Resource Planning (ERP).

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Definitions:

Net Income

The amount of earnings left over after all expenses and taxes have been subtracted from total revenue; a key indicator of a company's profitability.

Equity Method

An accounting technique used by a parent company to record its investments in subsidiaries or affiliates based on the equity stake's pro-rata share of net assets rather than the historical cost of the investment.

Stockholders' Equity

The remaining value of a company's assets after liabilities are subtracted, indicating the stake held by shareholders.

Liabilities

Financial obligations or debts that an entity owes to external parties, which must be settled through the transfer of assets, provision of services, or other economic benefits.