MRP - Material Requirements Planning
Material requirements planning (MRP) is a production planning and inventory control system used to manage manufacturing processes.
Most MRP systems are software-based, while it is possible to conduct MRP by hand as well.
An MRP system is intended to simultaneously meet three objectives:
- Ensure materials are available for production and products are available for delivery to customers.
- Maintain the lowest possible level of inventory.
- Plan manufacturing activities, delivery schedules and purchasing activities.