Question: What is a material requirements plan?

What is a material requirements plan?

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Material Requirements Planning MRP is a computerbased system which will plan the production sequences and control inventory as well The objectives of an MRP system are given below 1To plan manufacturing processes 2 To maintain optimum inventory level An excess inventory will lead to increase inventory cost and reduced inventory may lead to shortage of materials for production 3 To ensure availability of raw materials and other consumables for manufacturing in scheduled time 4To plan delivery time 5 To plan purchasing activities MRP is a computer based system It will Plan the material requirements based on the following inputs Master production schedule MPS This will give the details of quantity of material requirement and when it is required based on forecast demand and safety stock Bill of material BOM records This will have information of each component such as part number drawing number batch quantity cycle time of each operations operation sequence ... View full answer

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