Question 1

Consider the following requirements for a certain product.
  Beginning inventory = 500 units
Setup cost = $500 per setup
Lead time = 1 week
Holding cost = $3 per unit per week
a.Develop the lot-for-lot MRP table.
b.Calculate the total relevant costs.

Accepted Answer

There are three setups at $500 each,tota...

Question 2

Firms may discover that,rather than adapting ERP to the way they do business,they have to adapt the way they do business to accommodate the ERP software.

Accepted Answer

A) True 
 B)False

Question 3

In MRP,the number of units projected to be available at the beginning of each time period refers to:

Accepted Answer

A)  net requirements.
B)  scheduled receipts.
C)  planned order releases.
D)  projected on hand.
E)  the amount necessary to cover a shortage.F) B) and E)
G) A) and B)

Question 4

The minimum record accuracy required for successful MRP is approximately which of the following?

Accepted Answer

A)  lower than 90%
B)  90%
C)  95%
D)  97%
E)  99%F) All of the above
G) A) and E)

Question 5

Time fences divide that segment of the master schedule that can be revised from that section that is "not to be rescheduled."

Accepted Answer

A) True 
 B)False

Question 6

What do we mean by closed-loop MRP?

Accepted Answer

It's a system that provides fe...

Question 7

What is the process of tracing upward in the bill of material from the component to the parent item in order to determine the cause for the component requirement?

Accepted Answer

A)  net requirements planning
B)  time fencing
C)  pegging
D)  backtracking
E)  levelingF) A) and D)
G) B) and E)

Question 8

What is MRP? Identify four benefits from its use.

Accepted Answer

MRP or material requirements planning is...

Question 9

What does enterprise resource planning (ERP)allow an organization to do?

Accepted Answer

It allows the organization to automate a...

Question 10

Reduced inventory levels and faster response to market changes are both benefits of MRP.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following best describes a gross material requirements plan?

Accepted Answer

A)  a schedule that shows total demand for an item,and when it must be ordered from a supplier or when production must be started
B)  an intermediate range plan for the scheduling of families of products
C)  a chart illustrating whether capacity has been exceeded
D)  a table that corrects scheduled quantities for inventory on hand
E)  a schedule showing which products are to be manufactured and in what quantitiesF) D) and E)
G) All of the above

Question 12

Explain what is meant by "nervousness" of the MRP schedule.Provide an example.Name two tools that are particularly useful in reducing system nervousness in MRP systems.

Accepted Answer

Nervousness is the reaction to a large n...

Question 13

A(n)________ can illustrate whether a work center has been scheduled beyond its capacity.

Accepted Answer

load repor...

Exam 14: Material Requirements Planning Mrpand Erp

What is the process of tracing upward in the bill of material from the component to the parent item in order to determine the cause for the component requirement?

Correct Answer
verified

What is MRP? Identify four benefits from its use.

Correct Answer
verified
MRP or material requirements planning is...
View Answer

Time fences divide that segment of the master schedule that can be revised from that section that is "not to be rescheduled."

Correct Answer
verified

Reduced inventory levels and faster response to market changes are both benefits of MRP.

Correct Answer
verified

In MRP,the number of units projected to be available at the beginning of each time period refers to:

Correct Answer
verified

Firms may discover that,rather than adapting ERP to the way they do business,they have to adapt the way they do business to accommodate the ERP software.

Correct Answer
verified

Explain what is meant by "nervousness" of the MRP schedule.Provide an example.Name two tools that are particularly useful in reducing system nervousness in MRP systems.

Correct Answer
verified
Nervousness is the reaction to a large n...
View Answer

Consider the following requirements for a certain product. Beginning inventory = 500 units Setup cost = $500 per setup Lead time = 1 week Holding cost = $3 per unit per week a.Develop the lot-for-lot MRP table. b.Calculate the total relevant costs.

Correct Answer
verified
There are three setups at $500 each,tota...
View Answer

What does enterprise resource planning (ERP)allow an organization to do?

Correct Answer
verified
It allows the organization to automate a...
View Answer

The minimum record accuracy required for successful MRP is approximately which of the following?

Correct Answer
verified

A(n)________ can illustrate whether a work center has been scheduled beyond its capacity.

Correct Answer
verified
load repor...
View Answer

Which of the following best describes a gross material requirements plan?

Correct Answer
verified

What do we mean by closed-loop MRP?

Correct Answer
verified
It's a system that provides fe...
View Answer

Exam 14: Material Requirements Planning Mrpand Erp

What is the process of tracing upward in the bill of material from the component to the parent item in order to determine the cause for the component requirement?

Correct AnswerverifiedShow Answer

What is MRP? Identify four benefits from its use.

Correct AnswerverifiedMRP or material requirements planning is...View AnswerShow Answer

Time fences divide that segment of the master schedule that can be revised from that section that is "not to be rescheduled."

Correct AnswerverifiedShow Answer

Reduced inventory levels and faster response to market changes are both benefits of MRP.

Correct AnswerverifiedShow Answer

In MRP,the number of units projected to be available at the beginning of each time period refers to:

Correct AnswerverifiedShow Answer

Firms may discover that,rather than adapting ERP to the way they do business,they have to adapt the way they do business to accommodate the ERP software.

Correct AnswerverifiedShow Answer

Explain what is meant by "nervousness" of the MRP schedule.Provide an example.Name two tools that are particularly useful in reducing system nervousness in MRP systems.

Correct AnswerverifiedNervousness is the reaction to a large n...View AnswerShow Answer

Consider the following requirements for a certain product. Beginning inventory = 500 units Setup cost = $500 per setup Lead time = 1 week Holding cost = $3 per unit per week a.Develop the lot-for-lot MRP table. b.Calculate the total relevant costs.

Correct AnswerverifiedThere are three setups at $500 each,tota...View AnswerShow Answer

What does enterprise resource planning (ERP)allow an organization to do?

Correct AnswerverifiedIt allows the organization to automate a...View AnswerShow Answer

The minimum record accuracy required for successful MRP is approximately which of the following?

Correct AnswerverifiedShow Answer

A(n)________ can illustrate whether a work center has been scheduled beyond its capacity.

Correct Answerverifiedload repor...View AnswerShow Answer

Which of the following best describes a gross material requirements plan?

Correct AnswerverifiedShow Answer

What do we mean by closed-loop MRP?

Correct AnswerverifiedIt's a system that provides fe...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified
MRP or material requirements planning is...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Nervousness is the reaction to a large n...
View Answer

Correct Answer
verified
There are three setups at $500 each,tota...
View Answer

Correct Answer
verified
It allows the organization to automate a...
View Answer

Correct Answer
verified

Correct Answer
verified
load repor...
View Answer

Correct Answer
verified

Correct Answer
verified
It's a system that provides fe...
View Answer