Safety time most closely describes the MRP approach that is used for components or subassemblies to |compensate for variations in lead time.
A method for figuring out the materials and parts required to make a product is called material requirements planning (MRP). It consists of three main steps: listing the materials and components already present, deciding which more are required, and then planning for their production or acquisition.
Bill of Materials, Master Production Schedule (MPS), and Inventory Status File (ISF) are the three fundamental inputs of an MRP system (BOM). An MRP system is designed to concurrently accomplish three goals: guarantee raw materials are available for production and that goods are delivered to customers, maintain the lowest stock levels of materials and goods, and schedule production processes, delivery windows, and purchasing operations.
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