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NEW QUESTION: 1
A medium-sized manufacturing company, which operates in the electronics industry, has employed a firm of consultants to carry out a review of the company's planning and control systems. The company presently uses a traditional incremental budgeting system and the inventory management system is based on economic order quantities (EOQ) and reorder levels. The company's normal production patterns have changed significantly over the previous few years as a result of increasing demand for customized products. This has resulted in shorter production runs and difficulties with production and resource planning.
The consultants have recommended the implementation of activity based budgeting and a manufacturing resource planning system to improve planning and resource management.
How will a manufacturing resource planning system improve the planning of purchases and production for the company?
Select ALL the correct answers.
A. A manufacturing resource planning approach to the management of all the company's manufacturing
resources including inventory, labour and machine capacity.
B. The correct inventory management system relies on the assumption that there is constant demand. An MRP system begins with the setting of a master production schedule specifying both the timing and quantity demanded of each of the finished goods items and then works backwards to determine the resource requirements at each stage of the production process.
C. It aims to generate an estimation of materials requirements after taking account of the number of employees quality and waste. The TQS model can be used within MRP provided that the major assumption in the TQS model of constant demand applies.
D. The traditional approach to determine material requirements is to monitor inventories constantly; whenever they fall to a predetermined level, a preset order is placed to replenish them. This traditional approach (involving re-order levels and economic order quantity calculations originates in the pre-computer era.
E. It seeks to ensure that resources are available just before they are needed by the next stage of production or dispatch. It also seeks to ensure that resources are delivered only when required so that raw material inventory is kept to a minimum.
F. The technique will not enable managers to track orders through the manufacturing process and will not assist the purchasing and production control departments to move the right amount of material or sub- assemblies at the right time to the right place.
Answer: A,B,D,E
Explanation:
Explanation/Reference: https://www.vrelearnonline.com/p1-103-1-azy/
NEW QUESTION: 2
An Invoice was billed incorrectly and the Billing Specialist has created an adjustment for the Invoice. The Billing Specialist submitted it for approval but it was rejected by the Billing Manager.
What is true in this scenario?
A. The adjustment is closed and the invoice balance is reduced by the adjustment amount.
B. The adjustment is closed and the process is ended without any invoice or accounting impact.
C. The adjustment is routed back to the Billing Specialist for further action and is in the More Research status.
D. The adjustment is routed back to the Billing Specialist with the Rejected status.
Answer: D
NEW QUESTION: 3
In a hybrid project, the customer decided on a major change for the project design. This change was approved and the impact on schedule and budget is known The software team leader, who is supposed to develop the software, refuses to commit to delivery dates claiming that they work using an agile approach and cannot commit to a final delivery date The hardware team depends on this software to develop their part of the product What should the project manager do?
A. Escalate this to higher management and ask for help to resolve the issue.
B. Add this risk to the risk register and monitor it according to the risk management plan
C. Impose the delivery dates on the software team leader and notify the functional manager about the situation
D. Ask the software team leader to use a predictive approach and commit to a delivery date
Answer: B
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