Asked by Saadak Ahmed Mohamud on Jul 07, 2024
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MRP II is a business practice in which multiple trading partners agree to exchange knowledge and share risks to generate the most accurate forecast possible,and develop effective replenishment plans.
MRP II
Stands for Manufacturing Resource Planning, an integrated method of operational and financial planning for manufacturing companies, improving overall production efficiency.
Forecasting
The practice of making predictions about future events or trends based on historical data and analysis, often used in planning and decision-making processes.
Replenishment Plans
Strategies or methods used to determine when and how much inventory should be restocked.
- Gain insight into the significance of different inventory types in managing the supply chain.
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Learning Objectives
- Gain insight into the significance of different inventory types in managing the supply chain.
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