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Questions and Answers
In supply-chain management, what is the primary consideration when deciding whether to make or buy a component?
When implementing Just-In-Time (JIT) in inventory management, what is the key factor in determining when to re-order items?
What is the primary focus of material requirements planning (MRP) in supply-chain management?
Study Notes
Supply-Chain Management
- When deciding whether to make or buy a component, the primary consideration is identifying the most cost-effective and efficient option for the organization.
Inventory Management
- In Just-In-Time (JIT) implementation, the key factor in determining when to re-order items is reaching the re-order point, which is the minimum stock level that triggers a new order.
Material Requirements Planning (MRP)
- The primary focus of MRP is to ensure that the correct materials are procured and available at the right time to meet production schedules, reducing inventory levels and optimizing supply-chain efficiency.
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Description
Test your knowledge of supply chain decision-making and inventory management with this quiz. Explore topics such as make-or-buy decisions, supplier selection, integration strategies, inventory levels, material requirements planning, and just-in-time (JIT) principles.
