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Materials Requirement Planning (MRP) is a systematic approach used in manufacturing and inventory management to ensure that the right materials are available at the right time to meet production schedules while minimizing inventory costs. It is a computer-based system that integrates data from production schedules, inventory levels, and the bill of materials (BOM) to calculate material requirements and plan procurement or production activities accordingly. MRP helps organizations streamline operations, reduce waste, and improve overall efficiency in supply chain management. The core objective of MRP is to balance demand and supply. It starts with the master production schedule (MPS), which specifies what products need ________ __________ ________ _________ _______ ________.
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