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material requirements planning


'material requirements planning' can also refer to...

 

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(MRP)

A computer-based information system that uses known orders and forecast orders to produce a commitment to manufacture a given number of products in a given period. MRP is often divided into two phases: MRPI produces the commitment to manufacture, while MRPII develops the concept to assess the financial implications of the material requirements.

Subjects: Business and Management.


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