Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Materials requirement planning can achieve this.
Materials requirement planning is a system that allows for raw materials to be purchased as they are needed. Meredith (1987, p. 456) explains that this is achieved by considering the demand forecast, the master production schedule, and the inventory information. Based on this information, a computerized materials requirement planning is able to quickly and accurately determine the best way to meet raw materials needs. Utilizing a materials requirement planning would provide Hickory Chest Company with many advantages. Firstly, it would be an efficient way to manage the ordering process. Since the system is computerized, it limits the need for human decision-making. This means that purchasing could become largely automated, which would provide for a saving in both time, resources, and money. The system would also ensure that Hickory Chest Company is always able to meets its demand and manufacture efficiently....
This would reduce the need to store raw materials, as well as prevent a lack of raw materials from limiting production. In addition, a materials requirement planning system can manage changes. If there is a change in the demand forecast or the master production schedule, the materials requirement planning system can take these changes into account and quickly make adjustments. This would allow Hickory Chest Company a greater degree of flexibility.
Overall, material requirements planning would allow Hickory Chest Company to manufacture more efficiently, while the inventory and purchasing processes would be managed effectively. This would reduce some of the problems that currently occur, as well as making the processes easy to manage.
References
Meredith, J.R. (1987). The Management of Operations. New York: John Wiley & Sons.
Schermerhorn, J.R. (1989). Management for Productivity. New York: John Wiley & Sons.
Planning (mrp) Material Requirement Planning Selection of production has great impact on an organizational production process, and a production planning is critical to ensure smooth flow of production. Space Age Furniture is a company specializing in the manufacturing of cabinets and tables to hold televisions and microwaves. The paper analyzes the case of Space Furniture by exposing the implications of holding inventories within the company compared with the costs that the
Planning (MRP) Materials Requirement Planning, or MRP, can implement a number of clear benefits for a company in almost any industry. Essentially, "MRP calculates and maintains an optimum manufacturing plan based on master production schedules, sales forecasts, inventory status, open orders and bills of materials" (Inventory Solutions Logistics, 2007). It can be used as a way to help a company guide the way the handle their inventory so that they
Research Objectives and Scope The main objective of the research then relates closely to the research problem. It is to research the problem of uncertainty as it manifests in the global business environment. Specific issues to be investigated include supply chain management and its related uncertainties, the production process itself and uncertainties related to it, as well as the post-production phase and market uncertainties that are related to it. Time is also
References: Brinlee, D., MRP inventory management, Inventory Management, http://www.askdeb.com/inventory-management/mrp / last accessed on February 7, 2012 Heathfield, S.M., How to change your culture: organizational culture change, About.com, http://humanresources.about.com/od/organizationalculture/a/culture_change.htm last accessed on February 7, 2012 Johnson, R.W., Phased retirement and workplace flexibility for older adults: opportunities and challenges, Focus on Workplace Flexibility, http://workplaceflexibility.org/images/uploads/program_papers/johnson_-_phased_retirement_and_workplace_flexibility.pdf last accessed on February 7, 2012 Reh, F.J., Managing change: managing people's fear, About.com, http://management.about.com/cs/people/a/MngChng092302.htm last accessed on February 7, 2012 2010, ERP
The name chosen for the new product must have no negative connotation in any language. After all these have been established, it is time for the new product to be tested. Testing represents the final and most important filter the product must go through before being manufactured on a large scale and launched. The test's objectives are connected to the elimination of any uncertainties emerged in the technical production phase
AMR Research (2005) believes that companies must begin developing and redeploying current order management architectures with the focus on delivering more flexibility rather than a strategy that delivers far less. The move toward customer-driven fulfillment processes requires the ability to build and adapt channel-specific, product-specific, and customer-specific order flows quickly without an army of developers creating custom code. However, the days of big bang, rip-and-replace implementations are over, and any