Question: Q19What is the key difference between the MRP and JIT inventory management approaches? Only JIT reduces costs and improves efficiency. MRP is especially useful for

Q19What is the key difference between the MRP and JIT inventory management approaches?

Only JIT reduces costs and improves efficiency.

MRP is especially useful for products such as fashion apparel.

JIT is more effectively used with products that have predictable patterns of demand.

MRP schedules production to meet estimated sales needs; JIT schedules production to meet customer demands

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