Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning). Concept Introduction: Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item. Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

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Answer 1

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Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

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Answer 2

Question

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

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Answer 3

Question

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

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Answer 4

Question

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

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Answer 5

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

Answer 6

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

Answer 7

Chapter 8.1, Problem 1P

Summary Introduction

Interpretation:Differentiate between ‘independent’ and ‘dependent’ in reference to the inventory control models and MRP (material resource planning).

Concept Introduction:Inventory management relates to two broad types of items-the demand dependent items and independent items. As the terms indicate, the former items are dependent on the demand of some other item while the independent items are not related to or dependent on the demand for any other item.

Both the types of items are dealt with by different models. MRP, works for demand related items primarily those linked to the finished product/s to be manufactured. Demand may be known or uncertain. Other inventory models are applicable to items independent of demand.

Answer 8

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Answer 11

Ch. 8.1 - Prob. 1P Ch. 8.1 - Prob. 2P Ch. 8.1 - Prob. 3P Ch. 8.1 - Prob. 4P Ch. 8.1 - Prob. 5P Ch. 8.1 - Prob. 6P Ch. 8.1 - Prob. 7P Ch. 8.1 - Prob. 8P Ch. 8.1 - Prob. 9P Ch. 8.2 - Prob. 10P

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