MRP QUESTION

What is Material Requirements Planning?

• A production planning and inventory management system used to manage logistic processes and designed to assist production managers in scheduling and placing order for items of dependent demand

• An inventory management method in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover.

• The management of the flow of goods and services and includes all processes that transform raw materials into final products.

• someone who generates a revenue stream greater than the cost of their acquisition, selling, and serving

When was MRP was first computerized by aero - engine makers associated with General Electric and Rolls Royce .

• 1970

• 2023

• 1950

• 1965

WHICH IS SECOND STEP AND PROCESSES OF MRP?

• Scheduled shipment and delivery of the product

• Identifying requirements to meet demand

• Scheduling production

• Identifying is sues and making recommendations

What is Advantages of MRP?

• More cost-efficient production

• Maintains low inventory level

• Improve productivity

• Reduce costs associated with storage

What is Disadvantages of MRP?

• There are scheduling delays , wrong order quantities , and inefficient tracking if the information is inputted inaccurately with in the system

• Reliance on the precise input informati on

• Risk of Running Out of Stock

• More Planning Required

What is benefits of MRP?

• Reduce costs associated with storage

• Waste Elimination

• higher margin

• Reduce work in progress

Advance Planning & Scheduling Software (APS) is a digital solution that helps ​ manufacturers to manage ​______ and shop flo​or scheduling​

• production planning

• production cycle

• cost-efficient production

• production efficiency

Which one is MRP input?

• SUPPLIER

• DEMAND

• COST OF SALES

• COST OVERHEAD

All of below are the Importance Of MRP, except?

• ENSURE ENOUGH MATERIAL FOR PRODUCTION

• ELIMINATES OVERPRODUCTION

• HELP TO SCHEDULE AND PLAN PRODUCTION OPERATION

• ACCURACY OF MATERIAL PLANNING

WHICH ONE IS THE MOST HANDSOME

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