What Is Material Resource Planning (MRP)?

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Material resource planning is a structural tool that assists with cost-efficiency and productivity within companies that produce goods. Historically, MRP has been used within the manufacturing industry, but it has since expanded into a variety of business models. MRP can help a company make better-informed financial decisions when it comes to their inventory and production schedules.

If your company is considering utilizing this tool, it’s essential to understand a few key concepts before you make the leap. Learn what material resource planning is, how it works and what some of its primary benefits are to get started in your research.