Which lot sizing technique is typically used when the setup cost is significant compared to the holding cost?

Group of answer choices

Lot$-$for$-$Lot $($L$4$L$)$

Economic Order Quantity $($EOQ$)$

Periodic Order Quantity $($POQ$)$

Just$-$in$-$Time $($JIT$)$

Which of the following is a true statement about the MPS$?$

Group of answer choices

MPS serves as a bridge between what the market demands and what the production can deliver.

MPS is driven primarily by supplier capabilities.

MPS is directly derived from real$-$time sales data.

MPS details every step in the production process.

What is the primary purpose of Material Requirements Planning $($MRP$)$ in manufacturing?

Group of answer choices

To increase sales and marketing efforts

To maximize the workforce efficiency

To decrease the time required for product design

To minimize inventory costs while ensuring material availability