MRP (Material Requirements Planning)

Posted in Operations and Supply Chain Terms, Total Reads: 2077
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Definition: MRP (Material Requirements Planning)

MRP or material requirement planning is one of the most important aspects of operations Management. It is the technique of effectively procuring the material and using it for meeting the store as well as the demand.

Like many other methods this also had its genesis at the Toyota facility in Japan.


MRP takes care of the effective management of following-

  • Ensuring optimum Production
  • Meeting Demand
  • Maintaining repurchase schedule
  • Keeping minimum Inventory
  • Maintaining delivery schedule

 

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