Basic elements of contract elements of MRP techniques
1. Discuss the four basic elements of a contract, not specific to any organization and the concept of breach in regard to contracts. What policies does your organization have in place to resolve a contract issue?
2. Discuss the elements of materials requirement planning (MRP) techniques and the different types of inventories and their functions. Synthesize the relationship between supply, demand, and logistics management and discuss the importance of forecasting in managing supply.