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As an approach to inventory management, how does MRP differ from the approach taken in Chapter 12, dealing with economic order quantities (EOQ)?
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Expert Answer
MRP schedules production and inventory when demand is dependent and management must have a master schedule,precise lead time and accuarate inventory level.In this scenario MRP is best.ERP is integrated database system where firm’s behaviors are coordinated supplier evaluation to customer invoicing.ERP is umbrella system which tie together a variety of specialized systems.
