2006-06-25 01:30:35 · 4 answers · asked by Janep 2 in Business & Finance ➔ Corporations
MRP - Material Resources Planning or it may also known as Material Requirement Planning
2006-06-25 18:45:01 · update #1
I've heard MRP also used for Material & Resource Planning (in operations).
The thing is this: to make a good you need components and labor. Both are expensive and subject to supply and storage constraints. A firm that pays attention to MRP will waste less resources than firms that make things without planning accordingly.
In short - demand is scheduled based on sales projections. From that a production schedule is made, and the labor and materials are then forecast from the schedule. The labor is scheduled according to production, and the materials are ordered in the quantities needed to arrive when they will be used.
2006-06-25 06:18:10 · answer #1 · answered by Thomas F 3 · 5⤊ 2⤋
MRP=Manufacturing Retail Price
it does not exactly benefit anyone except the consumer.
MRP is the selling price at which a firm wants to sell its goods.
it is usually labeled on the good to actually stop the consumer from being cheated by the shop-keeper who actually sells the good to the customer.
2006-06-25 01:34:36 · answer #2 · answered by atharva_is_great 2 · 0⤊ 0⤋
Wait- do you mean MRP or ERP?
MRP (manufacturers retail price) does not in itself have any benefit whatsoever to a manufacturing firm.
ERP is Enterprise Resource Planning and it has many benefits. Simply, it coordinates all of the activities of a manufacturing company.
2006-06-25 01:39:25 · answer #3 · answered by ps2754 5 · 0⤊ 0⤋
Ensures high sales ratio.
2006-06-25 03:30:12 · answer #4 · answered by Yannis K 3 · 0⤊ 0⤋