Material Requirements Planning (MRP) System

This video discusses what a Material Requirements Planning system is.
Material Requirements Planning (MRP) is a system for scheduling purchase of materials and the production of inventory. An MRP system is typically software or cloud-based but doesn't need to be. It is simply a system that tells you when you need to purchase materials and produce inventory so that inventory is ready when it is purchased.
The inputs for an MRP system are a production schedule and a bill of materials (BOM). The production schedule indicates when inventory needs to be produced and the bill of materials lists the components (raw materials) that are necessary to produce the inventory. Once the information is put in the MRP system, the system will indicate when (and which) materials need to be purchased.-
Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world.
-
SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS:
• A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING
• A 44-PAGE GUIDE TO U.S. TAXATION
• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS
• MANY MORE FREE PDF GUIDES AND SPREADSHEETS
* eepurl.com/dIaa5z
-
SUPPORT EDSPIRA ON PATREON
* / prof_mclaughlin
-
GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT
* edspira.thinkific.com
-
LISTEN TO THE SCHEME PODCAST
* Apple Podcasts: podcasts.apple.com/us/podcast...
* Spotify: open.spotify.com/show/4WaNTqV...
* Website: www.edspira.com/podcast-2/
-
GET TAX TIPS ON TIKTOK
* / prof_mclaughlin
-
ACCESS INDEX OF VIDEOS
* www.edspira.com/index
-
CONNECT WITH EDSPIRA
* Facebook: / edspira
* Instagram: / edspiradotcom
* LinkedIn: / edspira
-
CONNECT WITH MICHAEL
* Twitter: / prof_mclaughlin
* LinkedIn: / prof-michael-mclaughlin
-
ABOUT EDSPIRA AND ITS CREATOR
* www.edspira.com/about/
* michaelmclaughlin.com

[@budweiser4973]

Very well presented. I did not know what MRP was before tonite...watching your presentation of the system was GREAT and I can confidently say I now have a firm grasp of how to use this software. It takes care of a lot of info and details to increase time management and productivity.

[@melikalle97]

well explained! Thanks a lot!!

[@AkaExcel]

Thank You for useful video!

[@chuatrum17]

Useful video .... Thanks !

[@basemmohamed4005]

Very good and short to understand many thanks

[@qingli1347]

Thank you!

[@latashabradley6687]

Good way of explaining

[@Rjacket]

Any recommended MRP for a small Ecommerce business?

[@joaocastro924]

Thanks for explaining this to us, very valuable information and explained in a way that even a complete idiot would understands it :)

[@MrSpock-sm3dd]

I agree, he made me understand it