MM 3001 Study Guide - Final Guide: Material Requirements Planning, Lead Time, Capacity Planning
30 Oct 2014
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Document Summary
How would you distinguish between these two classic approaches to managing dependent-demand inventories? (mrp and jit) How to maintain effective inventory, capacity, priorities in mrp: Implementation planning careful consideration of why it"s needed and what it will do: computer support, data accuracy what"s the culture, management involvement, across the company user education and involvement. Describe the difference between independent and dependent demand, and explain how dependent demand relates to mrp systems and how mrp systems operate with a different inventory management philosophy. Sketch an mrp system, showing the critical inputs, transformation process, outputs, and feedback loops (for closed- loop systems), and explain how management might assess the performance of the system. Explain the main terms used in mrp systems, including master schedule, bill of materials, lead times, parts explosion, planned order releases, shop orders, etc. Identify and discuss the main problems and concerns in managing an mrp system and maintaining its integrity, including suggestions for promoting success.
