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Explain how Material Requirements Planning (MRP) might improve operations.
Reduced stock holding
MRP can simplify inventory control and levels of stock holding may be decreased, thanks to precise planning so potentially improving both cash flow and company liquidity.
Help meet customer requirements
MRP can contribute to increased customer service as there will be fewer delays through materials shortage. Similarly MRP can give a base for providing swift, reliable quotations where delivery times are important.
Enhance planning of operations
The systemised planning that MRP brings means that there will be improved facilities utilisation and less time spent on hurrying emergency orders by (possibility of displacing other activities or incurring overtime payments, etc.).
Administration controls are performance measurement systems e.g. Management accounting 'exceptionreporting' systems which compare actual performance to a predetermined target, goal
does this concept fit in under the evaluation of strategic options
Question 1: (i) Why should stategic issues involve all stakeholders for a product or/and service? (ii) What are the objectives of strategic formulation and implementation
i need some template on the above statement
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