Resource Planning

Question 1

S&OP’s

Answer 1

Sales and Operations Planning

Business management process in which a team focuses on achieving alignment and synchronization across all departments

Question 2

Resource Planning

Answer 2

combines S&OPs and information to determine input requirements for a given period

Question 3

Enterprise Resource Planning System

Answer 3

Large, organization-wide integrated system supporting enterprise processes and data storage needs

Question 4

ERP Systems are designed around a

Answer 4

single shared database used by entire organization

Question 5

ERP system is beneficial to departments as it has

Answer 5

different modules with different functions

Question 6

ERP allows access to

Answer 6

range of real time data

Question 7

ERP System encompasses (6)
and generates

Answer 7

Manufacturing, Marketing, HR, Accounting, SCM, Data Analysis
generates reports, logs, orders

Question 8

Information Systems and what they provide?

Answer 8

collection of components that work together to provide desired information in the proper format at an appropriate time.

Question 9

Informations Systems Process diagram

Answer 9

People input data to Software -> used by other as information for procedures

Question 10

ERP can spit out information but needs to be

Answer 10

interpreted correctly by a manager or individual

Question 11

Material Requirements Planning

1. Manage what?
2. Schedule what?

Answer 11

computerized information system developed to help manage dependent demand inventory and schedule replenishment orders

Question 12

dependent demand (2)

Answer 12

quantity required is functional for other items produced or held in inventory, demand for component of finished good

Question 13

dependent demand is based on (2)

Answer 13

parents and components

Question 14

components are made of

Answer 14

other subcomponents

Question 15

Bicycle example: what is parent, component, subcomponent

Answer 15

parent is bike
component is wheel
subcomponent of wheel is spoke and rubber

Question 16

independent demand

Answer 16

demand for finished good etc car

Question 17

MRP calculates… and provides

Answer 17

dependent demand of components from the production schedules of parents, provides forecast

Question 18

MRP system translates….(2)

Answer 18

production schedules and material purchases into capacity requirements and dollar amounts projected in the future

Question 19

MRP systems automatically maintain alignment

Answer 19

alignment between demand and inventory for components and production schedules for parents.

Question 20

Material Requirements Planning Diagram

Answer 20

Master Production Schedule, Inventory Records, Bill of Materials -> planned order releases (to supplier upstream in organization) -> work orders (internal), purchase orders (external), Action Notices.

Question 21

Bill of Materials

Answer 21

A record of all the parent-component relationships for an item

Question 22

Components

Answer 22

items that make up the parents

Question 23

parents

Answer 23

have at least one component

Question 24

Bill of materials specifies usage quantity which is

Answer 24

of units of each component required

Question 25

End Item

Answer 25

final product sold to customer

Question 26

Intermediate Item

Answer 26

item with at least one parent and least one component

Question 27

Subassemblies

Answer 27

intermediate item assembled from more than one component

Question 28

purchased item

Answer 28

item with one or more parents, no components because it comes from supplier

Question 29

Part commonality and it increases volume

Answer 29

component has more than one parent, and increases volumes of particular components

Question 30

Master Production Schedule

Answer 30

states the requirements for individual and end items by date and quantity

Question 31

Inventory/Ordering Record

Answer 31

information about lot-size policies, lead time, different elements of time-phased data.

Question 32

Scheduled receipts

Answer 32

orders placed but not received

Question 33

Project on Hand Inventory

Answer 33

estimate of inventory available each week after gross requirements satisfied

Question 34

Planned Receipts

Answer 34

orders not yet released to supplier

Question 35

Lot sizing rules determine (2) and need to be selected for

Answer 35

timing and quantity of orders selected for each individual component

Question 36

Lot Sizing Possibilities (3)

Answer 36

Fixed Order Quantity (FOQ) Periodic Order Quantity (POQ) Lot for Lot (L4L)

Question 37

Fixed order quantity (FOQ)

Answer 37

same order quantity placed each time order is issued

Question 38

periodic order quantity (POQ)

Answer 38

order sizes differ, generally issued at pre-determined intervals

Question 39

Lot for Lot (L4L)

Answer 39

lot sized ordered covers gross requirements for a single week

Question 40

FOQ creates higher average inventory because

Answer 40

remnants but creates a buffer

Question 41

POQ & L4L have lower inventory costs but

Answer 41

leave you vulnerable to last minute changes in demand

Question 42

MRP explodes all information from MPS, inventory and BOM to calculate

Answer 42

requirements for all subassemblies, components and materials