Purchasing uses information from the _____ to place purchase orders for raw materials with qualified suppliers.
Purchasing uses information from the _____ to place purchase orders for raw materials with qualified suppliers.
Homework Answers
Ans: Material Requirement Planning (MRP)
Explanation:
Material Requirement Planning(MRP) is a computer based simple process that includes planning of what exact raw materials and other resources are needed to produce the particular finished product.
It has three inputs:
- Master Production Schedule : It involves scheduling and monitoring of the overall production activities. For ex: If an order is placed to manufacture 200 cars within stipulated time then this is MPS.
- Bill of product/Material: It tells how many components are needed for a single product. It defines the structure. For ex: What materials will be required to build one car? So it calculates the components accordingly.
- Inventory : It provides information regarding what materials are available and what materials should be removed if they are not required. Basically it keeps track of resources/raw materials.
Purchasing uses information from the inventory management system to place purchase orders for raw materials with qualified suppliers.
Add Answer to:
Purchasing uses information from the _____ to place purchase
orders for raw materials with qualified suppliers.
Kenta Manufacturing Company obtains its raw materials from a variety of suppliers. Kenta's strategy is to...
Kenta Manufacturing Company obtains its raw materials from a variety of suppliers. Kenta's strategy is to obtain the best price by letting the suppliers know that it buys from the lowest bidder. Approximately four years ago, unexpected increases in demand resulted in materials shortages. Kenta was unable to find the materials it needed even though it was willing to pay premium prices. Because of the lack of raw materials, Kenta was forced to close its manufacturing facility for two weeks....
Benson Manufacturing Company obtains its raw materials from a variety of suppliers. Benson's strategy is to...
Benson Manufacturing Company obtains its raw materials from a variety of suppliers. Benson's strategy is to obtain the best price by letting the suppliers know thatcit buys from the lowest bidder. Approximately four years ago, unexpected increases in demand resulted in material shortages. Benson was unable to find the material needed even though it was willing to pay premium prices. Because of the lack of raw materials. Benson was forced to close its manufacturing facility for two weeks. Its president...
Which of the following types of organizations purchases raw materials from suppliers and uses them to...
Which of the following types of organizations purchases raw materials from suppliers and uses them to create a finished product? Multiple Choice Retailers Service companies Merchandising companies Manufecturing firms
The best remedy for this problem is to use blanket purchase orders with suppliers that have...
The best remedy for this problem is to use blanket purchase orders with suppliers that have frequent transactions with Nypro. A blanket purchase order is typically used for items or services that are used repeatedly, and is effective for a fixed period of time. Employing a blanket purchase order makes managing relationships with suppliers with a high quantity of purchase orders easier because it consolidates multiple purchase orders on one blanket purchase order. Clearly, the purpose of blanket purchase orders...
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy...
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy is to distribute purchases equally among the three suppliers. The owner's son, Benjamin Bennet, just graduated from a business college. He proposes that these suppliers be rated (high numbers mean a good performance) on six performance criteria weighted as shown in the table. A total score hurdle of 0.60 is proposed to screen suppliers. Purchasing policy would be revised to order raw materials from...
Firm X sources raw materials from six different suppliers around the world. These inputs are stored...
Firm X sources raw materials from six different suppliers around the world. These inputs are stored in Firm X-owned warehouses close to its manufacturing facility in Tyler, Texas. What part of the global supply chain do the suppliers and inputs warehouse together constitute? upstream process downstream value chain
Quickbooks Question 10 The Open Purchase Orders Report gives information about: A. Purchase Orders for items...
Quickbooks Question 10 The Open Purchase Orders Report gives information about: A. Purchase Orders for items ordered but not yet received B. All Purchase Orders C. Purchase Orders from domestic companies only D. none of the above
Excelsior Corporation (Excelsior) is in the business of making specialty steel. It commonly orders its raw materials from a number of suppliers who are familiar with the Excelsior process of making st...
Excelsior Corporation (Excelsior) is in the business of making specialty steel. It commonly orders its raw materials from a number of suppliers who are familiar with the Excelsior process of making steel and what their raw materials are used for. On January 3, 2010, Excelsior sent a purchase order to Jones Minerals Inc (Jones) to purchase 50 tons of “amalgamated coke in small sized lots” at $1,000 per ton. Coke is a type of processed coal needed in the manufacture...
Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected...
Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $705,000 980,000 185,000 255,000 380,000 155,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Required: 1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. In January of this year, the Deluxe model required 2,500 direct labor hours and the basic model...
During the current month, a company that uses job order costing purchases $86,000 in raw materials...
During the current month, a company that uses job order costing purchases $86,000 in raw materials for cash. It then uses $15,000 of raw materials indirectly as factory supplies and uses $64,700 of raw materials as direct materials. Prepare journal entries to record these three transactions View transaction list Journal entry worksheet < А в с > Record the raw materials purchase for $86,000, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear...
Kenta Manufacturing Company obtains its raw materials from a variety of suppliers. Kenta's strategy is to obtain the best price by letting the suppliers know that it buys from the lowest bidder. Approximately four years ago, unexpected increases in demand resulted in materials shortages. Kenta was unable to find the materials it needed even though it was willing to pay premium prices. Because of the lack of raw materials, Kenta was forced to close its manufacturing facility for two weeks....
Which of the following types of organizations purchases raw materials from suppliers and uses them to create a finished product? Multiple Choice Retailers Service companies Merchandising companies Manufecturing firms
The Bennet Company purchases one of its essential raw materials from three suppliers. Bennet's current policy is to distribute purchases equally among the three suppliers. The owner's son, Benjamin Bennet, just graduated from a business college. He proposes that these suppliers be rated (high numbers mean a good performance) on six performance criteria weighted as shown in the table. A total score hurdle of 0.60 is proposed to screen suppliers. Purchasing policy would be revised to order raw materials from...
Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $705,000 980,000 185,000 255,000 380,000 155,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Required: 1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. In January of this year, the Deluxe model required 2,500 direct labor hours and the basic model...
During the current month, a company that uses job order costing purchases $86,000 in raw materials for cash. It then uses $15,000 of raw materials indirectly as factory supplies and uses $64,700 of raw materials as direct materials. Prepare journal entries to record these three transactions View transaction list Journal entry worksheet < А в с > Record the raw materials purchase for $86,000, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear...
Most questions answered within 3 hours.
-
The Foremost Composite Materials Company is planning a two-day
sales conference for October 19-20. The conference...
asked 15 minutes ago -
3) Illustrate the observed pattern of relatedness of organisms
versus adaptations to specific conditions. This means...
asked 32 minutes ago -
In winter a lake has a 0.35 m thick ice layer over 1.10 m of
water....
asked 1 hour ago -
Assuming the following has been encrypted with a Vigenere cipher
below, use the method(s) and assumptions...
asked 1 hour ago -
How would I use switch statements to write a program that will
take an input of...
asked 1 hour ago -
Imagine a reaction in which methane gas combusts at a constant
pressure of 1 atm and...
asked 1 hour ago -
Two parallel wires (each 12 m in length) are separated by a
distance of 0.065 m...
asked 1 hour ago -
Suppose there were three masses at the corner of uniform
equilateral triangle. The masses are m1...
asked 1 hour ago -
Situation: A building that is 618 m above the ground floor. How
many times would a...
asked 1 hour ago -
help me and discuss one successful and one
unsuccessful international company/busines in Indonesia.whyit
succeed and why...
asked 2 hours ago -
I- Choose the best answer
Which of the following statements about the structure and
packaging of...
asked 2 hours ago -
1. A sample of 144 incoming freshman found that 45 of them
scored more than 550...
asked 2 hours ago