Answer / subramanian

It is procedure that you set in the system on how the
Material is planned

Reorder Point
Seasonal requirement
Replenishment
Vendor Managed
Forecast Based
Master production Scheduling

Lot size :

You can define your requirements (to be produced or
Procured) in terms of Weekly, Monthly, Qty based, Maximum
Replenishment

Answer / cheekati

MRP type-
Key the determines wether and how the material is
planned.you have the following options.
-manual re-order point
-automatic re-order point
-fore-cast based planning
-material requirement planning
-master production scheduling.
LOT-SIZE-
Key that determines which lot size procedure, the system
uses with in material planning to caleculate the quantity
to be procured or produced.

Answer / cheekati

MRP TYPE:

A key that controls the mrp procedure(mrp,re-order point,forecast based,time phased planing)used for planning a material.

Lot sizing:

A procedure in material requirement planning used to calculate orders and production quantities.
there are three groups of procedures exist for calculating the lot size.
1. static lot sizing
2. period lot sizing
3. optimizing lot sizing

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