Mrp systems - basic inputs, Microeconomics

MRP systems - basic inputs 

It has been estimated that in the USA where MRP was originated and developed by Oliver Wight and George Plossl (1985), virtually all Fortune 500 manufacturing companies with annual sales of $10 million or more, use an MRP system. In the United Kingdom, it has been estimated that more than 70 per cent of all manufacturing companies use MRP systems. MRP is widely used throughout the world including the Middle and Far East and in Japan. 

Dependent demand implies the process of calculating from the end product backwards to the raw material level, determining at each stage the exact requirements. This is precisely how MRP operates.

However, there are two important steps which must be taken before that can be achieved. Firstly, there must be a database containing the required information. This database comprises information relating to the current inventory holding and the structure of the final product. 

The next few paragraphs contain some important terminology. 

 

Posted Date: 3/14/2013 6:20:10 AM | Location : United States







Related Discussions:- Mrp systems - basic inputs, Assignment Help, Ask Question on Mrp systems - basic inputs, Get Answer, Expert's Help, Mrp systems - basic inputs Discussions

Write discussion on Mrp systems - basic inputs
Your posts are moderated
Related Questions
Economic Development The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word

introduction of production

true or false ,It is not possible for the compensated own price elasticity to equal the uncompensated own price elasticity.uestion #Minimum 100 words accepted#

Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub

Define the concept of cross elasticity of demand

Available resources with the desired goals: To match the available resources with the desired goals: The complementary nature of some investment decisions make for planning. T

Ali Pizza’s production function is shown in the table above. Ali currently operates Plant2. He hires workers at a wage rate of $50 a day and his total fixed cost is $150. a) Calcul

advantages and disadvantages

Question 1: (a) Describe the different forms that foreign aid may take. (b) Does foreign aid lead to economic growth? Discuss. Question 2: (a) Distinguish between ec