Term
| What is Distribution requirements Planning? Give a definition |
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Definition
| DRP is the systematic process for determining which goods, in what quantity, at which location, and when are required in meeting anticipated demand. |
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Term
| Forecast/usage definition |
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Definition
| forecasting for future demand |
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Term
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Definition
| how many inventories you want to receive each week |
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Term
| Ending inventory definition |
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Definition
| how many inventoires you have each week |
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Term
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Definition
| How many inventories you order each week |
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Term
| Inventory or stock definition |
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Definition
| the goods and materials that a business holds for the ultimate purpose of sale. |
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Term
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Definition
- raw materials
- work in process
- finished goods
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Term
| Motivations for holding inventories |
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Definition
- economies of scale
- uncertainties
- reduce transit cost adn transit times
- other logisitics constraints
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Term
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Definition
Holding costs
ordering costs
penalty costs
A good inventory manager should minimize the sum of all relevant costs |
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Term
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Definition
| Demadn for the product is influenced by the demand from other products |
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Term
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Definition
| not depend on other products demand |
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Term
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Definition
| The time between the intitiation adn completion of production process |
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Term
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Definition
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Term
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Definition
| Demand is more than inventory |
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Term
| Distribution Requirements Planning |
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Definition
| Systematic process for determining which goods in what quantity at which location and when are required in meeting anticipated demand. |
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Term
| Why do you order the size of EOQ? |
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Definition
| when you order the size of the EOQ the total cost is minimum. |
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