ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Business Management => Topic started by: stramandinoli.chiara on September 28, 2018, 05:57:36 pm

Title: Business Management
Post by: stramandinoli.chiara on September 28, 2018, 05:57:36 pm

Hi Everyone,
can someone please help me with this question:

"Compare the Master Production Schedule with the Master Requirements Plan" (4 marks)

Title: Re: Business Management
Post by: BurningCookies on September 30, 2018, 01:41:46 am

I assume that from Master requirement planning you meant Materials requirement planning. I won't put up an actual response, but give you the details that you can use in your own.

• A master production schedule is a production plan that outlines what processes needs to be completed, how they need to be completed, when they need to be completed and the staff and equipment involved in the process.
• A materials requirement plan is used in conjunction with a master production schedule. It is an itemised list of all materials required for a business' production process.
• One comparison that you could bring up is that the MPS would allow the business to improve their production system in terms of time, while the MRP can improve it based on cost (although the question doesn't necessarily ask you to explain how both materials management strategies can benefit operations).