Question: 1 . What does ERP and MRP stand for. What is the difference between the two (2)? Name 2 benefits (outputs) of each. 2. What

1 . What does ERP and MRP stand for. What is the difference between the two (2)? Name 2 benefits (outputs) of each.

2. What is the relationship of the MPS to the MRP? What are three primary data sources used by the MRP system?

3. What does S&OP stand for? What functions are involved in it? Name 2 problems that an S&OP process seeks to avoid and/or resolve?

4. What are 2 different quantitative and 2 different qualitative methods of forecasting? If you owned a small bagel store, which method would you use to forecast future demand?

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