Consider order point inventory control methods and design strategy for designing

Question

Consider order point inventory control methods and design strategy for designing manufacturing planning and control (MPC) systems … (a) What is the difference between dependent and independent demand and how do they determine inventory management procedures? (b) What considerations are necessary when determining organizational criteria? (c) How does joint determination of order point and order quality control parameters allow savings in inventory-related cost? (d) What steps are involved in designing MPC systems? (e) What is the role of competitive strategy in MPC system design? Your final assignment should be between 1,000-to-1500-words, include at least five (5) reputable sources, and written in APA Style.

Explanation / Answer

Consider order point inventory control methods and design strategy for designing manufacturing planning and control (MPC) systems … (a) What is the difference between dependent and independent demand and how do they determine inventory management procedures? (b) What considerations are necessary when determining organizational criteria? (c) How does joint determination of order point and order quality control parameters allow savings in inventory-related cost? (d) What steps are involved in designing MPC systems? (e) What is the role of competitive strategy in MPC system design? Your final assignment should be between 1,000-to-1500-words, include at least five (5) reputable sources, and written in APA Style.

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