What is assemble to order strategy?
Assemble-to-order (ATO) is a business production strategy where products that are ordered by customers are produced quickly and are customizable to a certain extent. It typically requires that the basic parts of the product are already manufactured but not yet assembled.
What are characteristics of the make to order process with assembly processing?
The requirement quantity, delivery date and date configuration specifications are transferred from sales order to materials planning as an individual customer requirement. Bill of material are exploded and dependent requirements for assemblies and components are generated.
What are the four questions a good planning system must answer?
The four questions a good planning system must answer areWhat are we going to make? What does it take to make it? What do we have? What do we need?
Which of the following are key organizational elements in materials planning?
The organizational data elements in material planning are: e. Client, company code, plant, storage location.
Which master data are relevant for material planning?
Cards
| Term What master data is relevant for material planning? (3 answers) | Definition – material – bill of material – routings |
|---|---|
| Term MRP Control Parameters include: (5 answers) | Definition – Processing keys – Create Purchase Requisitions – Schedule lines – Create MRP list – Planning mode |
What is the first step in the production process?
In production planning, the first decision involves which type of production process—the way a good or service is created—best fits with company goals and customer demand. An important consideration is the type of good or service being produced, because different goods may require different production processes.
What is the main purpose of material planning processes?
The primary objective of MRP is to make sure that materials and components are available when needed in the production process and that manufacturing takes place on schedule.
What is MRP system and how it works?
Material requirements planning (MRP) is a computer-based inventory management system designed to improve productivity for businesses. Companies use material requirements-planning systems to estimate quantities of raw materials and schedule their deliveries.
What do you mean by material planning?
Materials Planning has been defined as the scientific way of determining the requirements of raw materials, components and other items needed for production within the economic investment policies. It is rather a sub system in the overall planning activity.
How is MRP calculated?
Maximum Retail Price Calculation Formula= Manufacturing Cost + Packaging/presentation Cost + Profit Margin + CnF margin + Stockist Margin + Retailer Margin + GST + Transportation + Marketing/advertisement expenses + other expenses etc. Then MRP can be fixed according according to above formula.
Is GST calculated on MRP?
Hence, MRP on any product is the maximum retail price which is the highest price calculated and charged by the manufacturer for a particular product to be sold in India. In the case, retailer charge GST along with the MRP, then consumers can raise a complaint against him.
Is GST above MRP?
If a retailer charges GST over maximum retail price, a consumer can file a complaint against him. A retailer cannot charge over MRP. However, a retailer can sell at a price lower than MRP.
Can a seller sell things above MRP?
In India, Maximum Retail Price or MRP refers to the highest price at which a product can be sold. MRP comprises of cost of production, transportation, profit and all the taxes that are applicable. Also, it is compulsory to print MRP on the product and no product can be sold above the MRP.
Why there is no MRP in UK?
M.R.P is not fixed by the government, instead, the manufacturer can write whatever M.R.P they like, so it is not like there is no loophole. Many products have higher MRP than the actual selling price, but usually, it is not an exorbitantly high price. It also helps somewhat with black money issue.
How is MRP discount calculated?
How do I take 20 % off a price?
- Take the original price.
- Divide the original price by 5.
- Alternatively, divide the original price by 100 and multiply it by 20.
- Subtract this new number from the original one.
- The number you calculated is the discounted value.
- Enjoy your savings!
What is the list price?
List price is defined as the highest possible price a buyer will pay for a specific product before any discounts. List price is also known as Manufacturer’s Suggested Retail Price, or MSRP.
What is the marked price?
The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price.
How do you introduce a profit and loss to a student?
Introduction to Profit and Loss
- Jackson purchased a toy car at 125 and sold it at 138 . State whether there is profit or loss and how much?
- Cost price = c.p = 125. Selling Price = S.P = 138. As S.P >C.P, there is a profit.
- Ally purchased a bag for 230 and sold it at 175 . State whether there is profit or loss and how much?
- Cost Price = C. P = 230.
What is the difference between market price and cost price?
Market price is the the price at which the goods are bought/purchased. Cost price is the cost of unit purchase at which the the goods are bought. cost price of a particular product or commodity is the amount of expenditure incurred to either purchase that particular product or manufacture that particular product.
What is difference between cost price and selling price?
Cost Price: The amount paid to purchase an article or the price at which an article is made is known as its cost price. Selling Price: The price at which an article is sold is known as its selling price.