Final answer:
The type of MRP records that specify the exact date for specific actions are called time-phased MRP records. They are crucial for synchronizing material supply with production schedules to optimize inventory levels and avoid production delays, leading to improved operational efficiency and customer satisfaction.
Step-by-step explanation:
The type of MRP records that show the exact date on which a specific action is required is known as time-phased MRP records. These records are a key component in the material requirements planning (MRP) process, which is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Time-phased MRP records, which could also be part of an enterprise resource planning (ERP) system, ensure that materials and components are available for production or delivery to customers as needed without maintaining excessive inventory levels.
Significance of Time-Phased MRP Records
Time-phased MRP records are significant because by specifying the exact dates for actions such as the release of purchase orders or the starting dates for production activities, they facilitate more accurate and efficient planning. This level of detail allows for the coordination of different stages in the manufacturing process, aligning the material supply with production schedules and customer demand. The time-specific nature of these records helps companies to minimize costs associated with holding inventory while also avoiding material shortages that could halt production.
Examples and Applications
For example, a company that manufactures electronic gadgets might use time-phased MRP records to determine when to order circuit boards so that they arrive just in time for the assembly of a new batch of smartphones. This precision in timing is essential not only for keeping inventory carrying costs low but also for ensuring that the production line continues to operate smoothly without delays. In essence, the integration of time-phased MRP records into a company’s inventory and production planning process can lead to more streamlined operations, greater efficiency, and improved customer satisfaction due to better adherence to delivery schedules.