3e Material stratergies Flashcards
1
Q
Forecasting
A
a material planning tool that predicts demand for an upcoming period using past data and market trend.
2
Q
Master production schedule
A
a plan that outlines what a business intends to produce, in its specific quantities, within a set period of time.
3
Q
Materials requirement planning
A
A process that itemises the types and quantities and materials required to meet production targets set out in the production scale.
4
Q
Just in time
A
An inventory control approach that delivers the correct type and quantity of materials as soon as they are needed for production.
