Question 26 (1 point) Decide if the following statement is true or false. In an MRP system, a requirements philosophy is based on the procurement of inventory to support the master production schedule. Stock is not automatically replenished when it runs low, only when it is needed to meet future requirements. 1) True 2) False Question 27 (3 points) Match the definitions/descriptions at the right with the correct MRP/ERP terms on the left. 1. Company wide system used to plan and contral all resources including inventory, capacity, cash, personnel facilities, and capital. It's an extension and integration of all functions through a common database, ERP system (or Type III MRP) MRP Type Il System 2. A minimal inventory control system that releases manufacturing and purchase orders based on the master schedule. MRP Type 1 System 3. An information system used to control inventories and capacities. Orders from parts explosion are checked to see if there is sufficient capacity