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16 Cards in this Set
- Front
- Back
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Material Requirements Planning |
(MRP) computerized inventory control and production planning system that aims to schedule the right quantity materials at the right time and place in order to minimize unnecessary inventories and costs |
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Goal of MRP |
to eliminate excess inventory and ensure material is available when needed |
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Inputs of MRP |
master production schedule bill of materials item master file |
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Outputs of MRP |
planned order release |
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Master Production Schedule |
provides the forecasted sales orders or demands for a finished product |
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Bill of Materials |
database of all items that make up the final product |
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Parent vs Child |
parent- above level of product structure tree child- below level of product structure tree -> can be more than one parent |
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Low Level Code |
the lowest level a product is listed as on the product structure tree |
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Item Master File |
database of info on each item produced, ordered or inventoried |
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Information the IMF provides |
lead time, lot size, on hand inventory, scheduled receipt |
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Planned order release |
tells you how much needs to be ordered and when |
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Benefits of MRP |
- speedy replacement with unexpected setbacks - accurate forecast of dependent demand items - improves productivity - minimizes bullwhip effect |
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Manufacturing Resource Planning |
(MRPII) helps determine labor hours, material costs, capital costs, and other resources needed once the MRP is in place |
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Enterprise Resource Planning |
(ERP) organizes and manages a company's business processes by: - sharing info across functional areas - integrating business processes - facilitating consumer interaction - providing benefit to global companies |
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Benefits of ERP |
- synchronization of customer and supplier transactions - easily shareable data across multiple countries - useful for online orders |
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Things MRP schedules |
- dependent demand - discrete demand - complex products - erratic orders - assemble-to-order products |
