Explain all of the information that is provided by a master schedule
What will be an ideal response?
Answer: A master schedule is a manufacturing plant's scheduling tool that tracks production output and matches this output to actual sales. A manufacturing plant begins by forecasting demand for their products for the short-term future. The forecast helps provide a rough estimate, but the plant should schedule to produce the amount of each item that is actually ordered by customers, called the booked orders, or the forecast amount, whichever is larger. If the plant already has some finished inventory as they enter a production period, then they do not need to produce as much, only the amount of the actual orders (or forecast) less the beginning inventory. This reduced quantity is the master production schedule amount. Finally, at the end of each production period, the manufacturer will have a number of units in stock. Some of these will have been promised to customers as booked orders. The remaining inventory is available to promise, that is, the next customer placing an order may receive this available to promise inventory since it has not already been committed to another customer.
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The primary advantages of the average rate of return method are its ease of computation and the fact that:
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)