Inventory and Planning

Question 1

In 100 words or more reply to statement below about CRP

Capacity Requirements Planning (CRP) is an important process within a company. It will determine whether or not a business can handle and maintain the demand for a product or service. A company must have the capability to meet production goals and the CRP system will assist with those measurements. IT helps with making sure that the company is producing efficiently. It’s important because there are effects of poor CRP usage. Poor CRP usage may cause delays, unfilled orders, and potentially lost of client to competitors. One major benefit is monitoring cost. Account personnel have the capability to budget for changes, when the company monitors the capacity level carefully. The financial resources can be applied where needed.

Question 2

In 100 words or more reply to statement below about MRP

Material Requirements Planning (MRP) is a system that will assist with controlling an organization’s inventory and the planning of its production. The computerized system keeps track of data of a company’s raw material to their finished goods. It will also help with the delivery schedule. MRP increases profitability, while reducing some lead time. It will provide productivity because it assist with balancing the inventory with the product demand. When a company utilizes a MRP system, it can transform their operational procedures because it used to be done by hand.

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