Explain the difference between a gross requirements plan and a net requirements plan

What will be an ideal response?

A gross requirements plan is a schedule that shows the total demand for an item (prior to subtraction of on-hand inventory and scheduled receipts) and 1. when it must be ordered from suppliers or 2. when production must be started to meet its demand by a particular date. A net requirements plan adjusts gross requirements for inventory on hand and scheduled receipts.