Please answer the following questions with 150-200 words.

1. What is capacity management and why is it an important focus for firms?

2. How does one execute capacity planning?

3. Compare and contrast capacity planning for service and manufacturing businesses.

4. What are enterprise resource planning (ERP) systems and why are they important?

5. How are supply chains enabled and improved via ERP systems?

6. How is information shared amongst business units via ERP systems?

7. Why is it important for firms to focus on forecasting models?

8. Why is it important for many firms to focus on yield management?

9. What is material requirements planning (MRP)?