ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The process of planning goods, materials, and resources required for procurement and manufacturing to support the sales forecast is known as:
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Demand Planning
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Sales Forecast
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Inventory Count
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Sales Management
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Explanation:
Detailed explanation-1: -MRP helps develop a production plan for finished goods by defining inventory requirements for components and raw materials. MRP assures that materials and components will be available when needed, minimizes inventory levels, reduces customer lead times, and improves customer satisfaction.
Detailed explanation-2: -Demand planning is a supply chain management process that enables a company to project future demand and successfully customize company output-be it products or services-according to those projections.
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