|materials requirements planning (MRP)|
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Definition of materials requirements planning (MRP)
materials requirements planning (MRP)
a computerbased information system that simulates the ordering and
A budgeting process using summary-level information to
A common element of a financial plan that describes projected capital spending and the
A listing of all the materials and quantities that go to make up a completed product.
a document that contains information about
An itemization of the parts and subassemblies required to create a
A listing of all parts and subassemblies required to produce one
A bill of material that accounts for the generation and
Financial planning conducted by a firm that encompasses preparation of both
The cost of all materials used in a cost object, such as finished goods.
The variance between the budgeted and actual mixes of
a packaged software program that allows a company to
A computer system used to manage all company
An insurance program designed to provide funds for insured's dependents upon death of the insured, and to also conserve, as much as possible, the personal assets that the insured wants to bequeath to heirs.
The process of evaluating the investing and financing options available to a firm. It
Arrangement used to finance inventory. A finance company buys the inventory, which is then
Manufacturing resource planning
An integrated, computerized system for planning
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
Material requirements planning
A computerized system used to calculate material
Material requirements planning (MRP)
A computer-driven production methodology
Materials price variance
The difference between the actual and budgeted cost to
Materials quantity variance
The difference between the actual and budgeted quantities
Materials requirement planning
Computer-based systems that plan backward from the production schedule
A document listing the quantities of specific parts to be withdrawn
see materials requirements planning
see manufacturing resource planning
the process of creating the goals and objectives for
The length of time a model projects into the future.
Time horizon for a financial plan.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
Unprocessed goods bought for manufacture, part of inventory.
Raw materials inventory
The total cost of all component parts currently in stock that
The component-level requirements for a production run,
The percentage of different types of deposits that member banks are required to hold
the process of developing a statement of
Summarized bill of materials
A bill of materials format showing the grand total
the process of determining the specific
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