What are the four questions a good a good planning system must answer? Define capacity and priority. Why are they important in production planning?

LOGI1020: Homework 2

1. What are the four questions a good a good planning system must answer?
2. Define capacity and priority. Why are they important in production planning?
3. Describe each of the following plans in terms of their purpose, planning horizon and level of details.
a) Strategic plan
b) Business plan
c) Production plan
d) Master production schedule
e) Materials requirement planning plan
f) Production activity control
4. What is ERP and give two advantages of the ERP system?