Material Requirements Planning (MRP)

Material Requirements Planning (MRP) is a production planning tool used by businesses to ensure they have the right materials at the right time to meet demand. It involves analyzing inventory levels, production schedules, and customer orders. MRP helps companies determine how much raw material or components they need, when to order them, and how to minimize waste and costs. By coordinating these elements, MRP helps improve efficiency, reduce delays, and ensure timely delivery of products, ultimately leading to better customer satisfaction and streamlined operations.