Asked by
Lianna Spano
on Nov 07, 2024Verified
A computerized system for setting raw material inventory levels that starts with projecting the number of finished goods to be manufactured is generally referred to as:
A) Economic order quantity model.
B) The ABC inventory approach.
C) Materials requirements planning.
D) The inventory depletion model.
E) The reorder point system.
Materials Requirements Planning
A system used in manufacturing to calculate materials needed for production, ensuring the right materials are available at the right time and in the correct quantities.
Inventory Levels
The amount of goods and materials a company holds for the purpose of resale or production.
- Acquire insight into the basis for the selection of certain inventory management strategies according to organizational strategy and operational performance.
- Gain insight into how competitive forces and product features affect the determination of credit terms.
Verified Answer
LV
Learning Objectives
- Acquire insight into the basis for the selection of certain inventory management strategies according to organizational strategy and operational performance.
- Gain insight into how competitive forces and product features affect the determination of credit terms.
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