Question 4 (25 Marks) Planning and scheduling your raw materials for production can be a challenging process. The last thing a manufacturer wants is to run out of material and be unable to meet its customer demand. On the other hand, having too much material is costly to stock and manufacturers run the risk of those materials going bad, especially in the food or pharmaceutical industries. Material Requirements Planning (MRP) and Just-In-Time (JIT) processing are two different forms of materials planning and control that work well together to improve manufacturing processes. These methods are helpful for manufacturers as they can help provide low-cost, high-quality products that can meet and even exceed customer requirements. MRP looks at the customer demand to identify which materials are required for production and determines when they are needed. JIT is mostly used in scheduling and purchasing to ensure that products are produced only when they are needed and materials are ordered to arrive just before they are required for production. And Advanced Planning and Scheduling software that supports both MRP and JIT functionalities will help manufacturers plan their materials, reduce waste within their facility, and increase their profits. Based on the above write up, answer all questions given below. (a) Compare and contrast between Just-In-Time (JIT) and Material Requirement Planning (MRP). Justify your answer by giving FIVE (5) key differences. (25 marks)