The Extension of MRP Which Extends to Resources Such as Labour

question 180

Multiple Choice

The extension of MRP which extends to resources such as labour hours and machine hours, as well as to order entry, purchasing, and direct interface with customers and suppliers is

• A) MRP II.
• B) enterprise resource planning.
• C) the master production schedule.
• D) closed-loop MRP.
• E) not yet technically possible.

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Definitions:

Wage Rate

The standard amount of compensation an employee receives for performing a specific task or for working a certain amount of time, typically measured per hour or per unit of work.

Workers

Individuals engaged in any form of work either for wages, salary, or as independent contractors.

Product Price

The amount of money charged for a product or service, which can be influenced by production cost, supply and demand, and market competition.

Resource

An asset or material that can be used to produce goods or services and achieve economic goals.