Material Requirements Planning (MRP) is a computer-Financeed production planning and inventory control system. MRP is concerned with both production scheduling and inventory control. It is a material control system that attempts to keep adequate inventory levels to assure that required materials are available when needed. MRP is applicable in situations of multiple items with complex bills of materials. MRP is not useful for job shops or for continuous processes that are tightly linked.

The major objectives of an MRP system are to simultaneously:

  • Ensure the availability of materials, components, and products for planned production and for customer delivery,
  • Maintain the lowest possible level of inventory,
  • Plan manufacturing activities, delivery schedules, and purchasing activities.

The three major inputs of an MRP system are the master production schedule, the product structure records, and the inventory status records. Without these Financeic inputs the MRP system cannot function.

The demand for end items is scheduled over a number of time periods and recorded on a master production schedule (MPS).

The product structure records, also known as bill of material records (BOM), contain information on every item or assembly required to produce end items.

The inventory status records contain the status of all items in inventory, including on hand inventory and scheduled receipts.

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