Materials requirement planning

Materials requirement planning
Computer-based systems that plan backward from the production schedule to make purchases in order to manage inventory levels. The New York Times Financial Glossary

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materials requirement planning UK US noun [U] (also material requirement planning)
PRODUCTION MRP(Cf. ↑MRP)

Financial and business terms. 2012.

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  • Bill Of Materials - BOM — A comprehensive list of raw materials, components and assemblies required to build or manufacture a product. A bill of materials (BOM) is usually in a hierarchical format, with the topmost level showing the end product, and the bottom level… …   Investment dictionary

  • Manufacturing Resource Planning - MRP II — An integrated information system used by businesses. Manufacturing Resource Planning (MRP II) evolved from early Materials Requirement Planning (MRP) systems by including the integration of additional data, such as employee and financial needs.… …   Investment dictionary

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  • Material Requirements Planning — (MRP) is a software based production planning and inventory control system used to manage manufacturing processes. Although it is not common nowadays, it is possible to conduct MRP by hand as well.An MRP system is intended to simultaneously meet… …   Wikipedia

  • Manufacturing resource planning — (or MRP2) Around 1980, over frequent changes in sales forecasts, entailing continual readjustments in production, as well as the unsuitability of the parameters fixed by the system, led MRP (Material Requirement Planning) to evolve into a new… …   Wikipedia

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