BU395 Lecture Notes - Lecture 16: Wicket-Keeper, Item Number, Safety Stock
Document Summary
Material requirements planning: mrp (material requirements planning, process of translating a production schedule for an end product (mps or. Master production schedule) to a set of requirements for all the subassemblies and parts needed to make that item. In an environment in which substantial variation of sales are anticipated (and can be forecasted accurately), mrp will probably give you a better idea: main advantage of jit over mrp: It gives the product structure in terms of subassemblies, components, and raw materials; usage quantities; and lead times. Is contains information on the quantities on hand and on order: an inventory status record (isr) is used to record data for each item in the bom. It records the item number, its description, lead time, and a lot sizing rule: production structure diagram, basic steps of mrp, mrp is a management information system, rather than a decision making system.
