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MRP system is the most suitable IT system to manage which type of items?
Suggested Answer: A, B
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The most common subjective forecasting techniques include the following:
- Market surveys
- Employee surveys
- Expert knowledge (Delphi method is a method using expert knowledge)
- Test marketing
Cycle counting is a periodic analysis of inventory in a storage location which is conducted through the counting of samples instead of physically counting the entire inventory available, so as to quickly have an accurate estimate of the inventory available without causing a stop to the day to day working as is the case with physically counting every unit.
The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of fac-tor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.
Weighted moving averages assign a heavier weighting to more current data points since they are more relevant than data points in the distant past. The sum of the weighting should add up to 1 (or 100 percent).
LO 2, AC 2.3
37 comments · newest first
SH
Sherell
11 months ago
Really? I’m surprised it’s not for construction projects!
AS
Ashley
11 months ago
Fast moving components make sense, but not the main focus.
VE
Veta
12 months ago
I thought it was for independent demand too, though.
GR
Gregoria
12 months ago
Totally agree, it’s all about the relationships!
EL
Elsa
1 year ago
MRP is best for dependent demand items!
BO
Boris
1 year ago
I keep mixing up MRP with other systems, but I feel like it’s related to managing inventory for fast-moving components too.
MA
Madalyn
1 year ago
I practiced a question similar to this, and I think the answer is definitely A, dependent demand.
LE
Leoma
1 year ago
I’m not entirely sure, but I think MRP might not be the best fit for independent demand items, right?
ME
Melodie
1 year ago
I remember MRP is mainly used for dependent demand items, like components needed for production.
JE
Jesus
1 year ago
I think I know this one. MRP is all about managing the supply chain for items that are needed to produce other products, so the answer has to be A. Dependent demand.
TO
Tony
1 year ago
The key here is that MRP systems are used to manage production and inventory for items that are dependent on other items, like components in a manufacturing process. So the answer is definitely A. Dependent demand.
WI
Willis
1 year ago
I'm a bit confused on the difference between dependent and independent demand. Can someone clarify that for me before I try to answer this?
RA
Raul
1 year ago
Okay, I've got this. MRP systems are designed to manage dependent demand items, so the answer has to be A. Dependent demand.
DE
Denae
1 year ago
Hmm, this seems like a tricky one. I'll need to think carefully about the differences between dependent and independent demand to figure this out.
HU
Hubert
1 year ago
I'm feeling good about this one. The description matches the definition of "case assessment" - collecting and evaluating the member's information to understand their situation. I'll go with that as my final answer.
DO
Donette
1 year ago
This seems straightforward - I'd go with option A and configure the Risk Criteria in ServiceNow to better align with our company's needs.
GL
Glory
1 year ago
Hmm, I'm a bit unsure about this one. I think I need more information on the operating systems used in the environment and the fan-in and fan-out ratios to really design the best solution.
NI
Niesha
1 year ago
Gotta be option A, my friends. Dependent demand is the bread and butter of MRP. Anything else and you're just asking for trouble.
SH
Shawna
1 year ago
Ha! Fast moving components? Sounds like someone's trying to trick us. MRP is all about planning and control, not the latest gadgets and gizmos.
WE
Werner
1 year ago
Yeah, MRP focuses on production planning and inventory control, not necessarily fast-moving items.
SH
Shenika
1 year ago
D) Fast moving components
MA
Maryann
1 year ago
MRP is not typically used for managing construction projects.
TH
Thaddeus
1 year ago
B) Construction projects
MA
Marjory
1 year ago
Exactly, MRP is designed for managing items with predictable demand.
BA
Barabara
1 year ago
C) Independent demand
BU
Bulah
1 year ago
A) Dependent demand
JO
Joye
2 years ago
I'm not so sure about that. Isn't MRP more suited for things like finished goods with independent demand? Construction projects seem like a whole different animal.
GE
Geraldo
1 year ago
D) Fast moving components
AN
Annelle
1 year ago
I agree, MRP systems are typically used for managing items with independent demand.
EV
Evelynn
1 year ago
C) Independent demand
CA
Carissa
1 year ago
A) Dependent demand
KI
Kirk
2 years ago
I'm not sure about that. I think the answer might be C) Independent demand.
BE
Bette
2 years ago
I agree with Maybelle. MRP system is designed to manage dependent demand items.
WH
Whitney
2 years ago
MRP is definitely the way to go for dependent demand items. Anything with a clear relationship to other items in the production process is a perfect fit.
XE
Xenia
1 year ago
C) Independent demand
TI
Timmy
1 year ago
A) Dependent demand
MA
Maybelle
2 years ago
I think the answer is A) Dependent demand.