Material requirements planning (MRP-I): An overview and methodology for successful implementation

Abstract

Material Requirements Planning is a wide spread management tool which helps to control the inventory with the help of forward planning with the help of backward technique.MRP is production controlling technique.It is simply a computer based system of controlling inventory inflow and outflow.Material Requirements Planning help in preparing master production schedule which help in maintaining economic order quantity.It is not a onetime process but it is a continuous adjustment of raw materials requirements with the changes in production schedule.Material Resource Planning helps in reducing the wastage and it increases productivity as it follows Just in Time approach for the availability of Raw Material.