Explain material requirements planning

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Reference no: EM13710947

Explain Material Requirements Planning - Step by Step

Problem- Fire King Office Products, a manufacturer of fireproof file cabinets, uses MRP to schedule its production. Demand and inventory data for its "Signature Series Files" model are given in the table below.

Period 1 2 3 4 5

Demand 20 40 30 10 45

Ordering Cost = $100 per order

Holding Cost = $1 per file cabinet per week

Lead Time = 1 period

Beginning Inventory = 25

Complete an MRP matrix for the "Signature Series Files" model using:

i) No lot sizing

ii) Minimum 75 lot sizing

iii) Multiple 50 lot sizing

Part 1- Which lot sizing rule do you recommend?

I need help to explain in detailed step by step guide with illustration on how to derive MRP requirements using lot for lot, minimum order and lot size policies. It shows which policy to select basis total cost.

Reference no: EM13710947

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