MRP is a management philosophy aimed at improving profits by involving workers in the operations process and eliminating waste through cost reductions, inventory reductions, and quality improvements.

Question

Quizplus · Accepted Answer

The description given in the statement does not accurately describe MRP (Material Requirements Planning). Rather, it may reflect a Lean Manufacturing approach or other similar methodologies. MRP is a computer-based inventory management system that uses a bill of materials, inventory data, and production schedule to determine material requirements and ensure availability for production.

MRP Is a Management Philosophy Aimed at Improving Profits by Involving