Definitions for "Materials requirement planning"
A system that converts a production schedule into a listing of the materials and components required to meet that schedule, so that adequate stock levels are maintained and items are available when needed.
A set of techniques that uses bill of material data, inventory data, and the master production schedule to calculate requirements for materials.
A computerised inventory control system based on the Japanese Kanban card system. It is intended to minimise the investment in manufacturing/processing materials and components, consistent with matching production levels to current demand.
Mathematical programming Matif SA