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Which of the following best describe the function of MRP?
One of the important outputs of an MRP system is the material requirement plan. This plan shows the net requirements for materials or components to make the final product. Which of the following best describes the net material requirements?
XYZ Ltd wants to determine the safety stock level of a strategic material for its new product - DMD. It needs to forecast the future demand for this product. It invites external consultants and cross-functional team members to a meeting. They answer questionnaires anonymously and see the "group response" as a statistical summary. They repeat this process until they reach a closer agreement. What forecasting method is XYZ Ltd using?
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