MGMT 3305 - Exam 4

Materials Requirements Planning (MRP) is used for:

• independent demand items

• dependent deman items

• available-to-promise items

• disaggregated items

• aggregated items

If lot-for-lot ordering is used, then planned order receipt will be equal to:

• gross requirements

• safety inventory

• projected available

• net requirements

• master schedule

Which one of the following are the main inputs to a MRP system?

• master production schedule

• bill of materials

• the aggregate plan

• inventory records

Which is true about scheduled receipts in a MRP system?

• They are orders previously placed, and not yet received

• They must be less than the net requirements in any period

• They are included in the planned order receipts

• They are added to gross requirements to get net requirements

In MRP, the listing of all the subassemblies and components needed to produce one unit of an end item is called the

• inventory records

• bill of materials

• gross requirements

• material requirements plan

• master production schedule

Which one of these is not one of the primary output of the MRP system?

• planned orders

• order releases

• order changes

• excpetions

Additional information available in MRP like labor hours, machine costs, material costs, etc. and this system is known as

• Material Requirements Planning

• Material Resource Planning

• Materials Planned Resourcing

• Material Resource Costing

Which one of the following is not true of the Enterprise Resource Planning (ERP) system

• Shares common database and common business practices

• Allows for easy and low cost implementation of this systems

• Allows automation and integration of many business processes

• Produces information in real time for all the business functions

Which one is NOT one of the main types of inventory in inventory management?

• raw materials inventory

• reorder point inventory

• work in process inventory

• finished goods inventory

• goods in transit inventory

Whic one among these is NOT one of the main costs of inventory in inventory management?

• purchase costs

• warehouse costs

• holding costs

• ordering costs

• shortage costs