Question: This passge below require indept analysis and breakdown In simple terms, the Master Production Schedule (MPS) is the higher level finished product demand or forecast
This passge below require indept analysis and breakdown
In simple terms, the Master Production Schedule (MPS) is the higher level finished product demand or forecast in which the company needs to produce. It is also defined as is the time-phased plan specifying how many of each end item the firm plans to build and when. (Jacob & Chase, 2020) Materials Requirements Planning (MRP) is the lower level or component level of items that make up the final product and is driven by the MPS. The MPS is documented and defined by the sales forecast, demand and safety stock (if any) they want to keep. The MPS will drive the manufacturing scheduling and resources. It will also determine the MRP or materials requirement planning schedule. The MRP is a schedule of all of the components to make up the schedule of finished goods to be completed. This part of the supply chain is critical to have an MRP because it helps to identify the amount of product that is needed to order at a given time.
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