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
Financial and business terms.
2012.
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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