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MATERIAL REQUIREMENT PLANNING (:recycle: CHALLENGES (:pen: QUANTITY…
MATERIAL REQUIREMENT PLANNING 
:star: MRP : - production scheduling, material control, inventory control . it is material control system that attempts to keep adequate inventory level to assure the required materials are available when needed.
:fire: OBJECTIVES
ensure the availability of materials, components and products for planned production and for customer delivery
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plan activities such manufacturing, delivery schedule and purchasing
:red_flag: TERMS
: :checkered_flag: Inventory- order the right part, right quantity, right time
:checkered_flag: priorities- order with the right due date, keep the due date valid
:checkered_flag: capacity- plan for a complete load, an accurate load, an adequate time to view future load
:forbidden: TYPES
:pencil2:MASTER PRODUCTION SCHEDULE (MPS)
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- MPS is developed from forecasts and firm customer orders for end items, safety stock requirements and internal orders.
:pencil2:BILL OF MATERIAL RECORDS
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information-description, part number, lead times, quantity per assembly, quantity per end item, next higher assembly
: :pencil2: INVENTORY STATUS RECORDS :
- up-to-date status of all items, hands o and scheduled receiptd from suppliers
:recycle: CHALLENGES
:pen: QUANTITY DEMANDED- term used in economics to describe the total amount of goods or services demanded at any given point in time. It depends on the price of goods or service in the marketplace. it changes with respect to price is called the elasticity of demand
:pen: QUANTITY SUPPLIED - depends on price level, and the price can be set by either a governing body by using price ceilings or floors or regular forces.
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: :pen: TIMING OF SUPPLY- known as Building Integrated Timing System, is a method for Timing of Supply distributing a precision clock among telecommunications equipment.