3.3.5 operations relating to material

Question 1

material management

Answer 1

Strategy that manages the use, storage and delivery of materials to ensure the right amount of inputs are available when required by the operations system

Question 2

forecasting

Answer 2

Materials planning tool that relies on data from the past and present and analysis of trends to attempt to determine future events

Question 3

MPS

Answer 3

MPS breaks down the whole production process into stages and determines what exactly is required, needed to be produced and by when