MRP is a computer-based production planning system that lets a firm ensure that it has all the parts and materials it needs to produce its output at the right time and place and in the right amounts.

Question

Quizplus · Accepted Answer

MRP (Material Requirements Planning) is a computer-based production planning system that helps a firm to plan for the materials and parts required for production in the most cost-efficient manner. It enables a company to manage inventory levels, plan and schedule production, and ensure timely delivery of products to customers. Hence, the statement is true.

MRP Is a Computer-Based Production Planning System That Lets a Firm