HRM500- Human Resource Management Foundations

One of the first software based integrated information systems designed to improve productivity for businesses. A materials requirement planning (MRP) information system is a sales forecast-based system used to schedule raw material deliveries and quantities, given assumptions of machine and labor units required to fulfill a sales forecast (http://www.investopedia.com/terms/m/mrp.asp ). MRP works backward from a production plan for finished goods to develop requirements for components and raw materials. MRP begins with a schedule for finished goods that is converted into a schedule of requirements for the subassemblies, the component parts, and the raw materials needed to produce the final product within the established schedule. MRP is designed to answer three questions: what is needed? how much is needed? and when is it needed? (http://www.inc.com/encyclopedia/material-requirements-planning-mrp.html ).