Answer :
Final answer:
Materials requirements planning involves ensuring timely delivery of raw materials and finished products in production processes.
Explanation:
Materials requirements planning is the term for the process of planning production by ensuring that raw materials reach the factory floor on time and finished products are delivered to customers promptly. This approach involves scheduling deliveries with production to maintain efficiency and minimize storage costs.
For example, an enterprise resource planning (ERP) system can track stock levels using RFID tags and barcodes, automatically ordering from subcontractors when supplies reach a critical point. This seamless information flow known as Industry 4.0 enhances production chains with shorter lead times and fewer errors.
Efficient materials requirements planning is crucial for successful production management and meeting customer demands in a timely manner.
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