Manufacturing Resource Planning - MRP II

AAA

DEFINITION of 'Manufacturing Resource Planning - MRP II'

An integrated information system used by businesses. Manufacturing Resource Planning (MRP II) evolved from early Materials Requirement Planning (MRP) systems by including the integration of additional data, such as employee and financial needs. The system is designed to centralize, integrate and process information for effective decision making in scheduling, design engineering, inventory management and cost control in manufacturing.

INVESTOPEDIA EXPLAINS 'Manufacturing Resource Planning - MRP II'

MRP II is a computer-based system that can create detail production schedules using realtime data to coordinate the arrival of component materials with machine and labor availability. MRP II is used widely by itself, but also as a module of more extensive enterprise resource planning (ERP) systems.

RELATED TERMS
  1. Critical Path Analysis - CPA

    A process by which projects are outlined and sequenced to have ...
  2. PERT Chart

    A project management tool that provides a graphical representation ...
  3. Bill Of Materials - BOM

    A comprehensive list of raw materials, components and assemblies ...
  4. Materials Requirement Planning ...

    One of the first software based integrated information systems ...
  5. Economic Order Quantity - EOQ

    An inventory-related equation that determines the optimum order ...
  6. Enterprise Resource Planning - ...

    A process by which a company (often a manufacturer) manages and ...
RELATED FAQS
  1. How do I determine my company's competitive advantage?

    Most companies are either founded on a competitive advantage or can apply a certain criteria toward finding their competitive ... Read Full Answer >>
Related Articles
  1. Economics

    A Practical Look At Microeconomics

    Learn how individual decision-making turns the gears of our economy.
  2. Economics

    What Are Economies Of Scale?

    Is bigger always better? Read up on the important and often misunderstood concept of economies of scale.
  3. Retirement

    The Evolution Of Enterprise Risk Management

    This growing sector can tell you a lot about the companies you are investing in.
  4. Economics

    What’s Driving U.S. Stocks? Irony.

    A seesaw week for U.S. stocks ended on the upside last week, though the rally was more a function of slow growth rather than a booming economy.
  5. Stock Analysis

    A Trader's Look at the S&P 500

    Moving averages are sending an important signal, and it's probably not what you think.
  6. Credit & Loans

    The Tangled Web of Interest Rates, Mortgage Rates, And The Economy

    The article looks into the interwoven relationship between the economy, interest rates, and mortgage rates.
  7. Mutual Funds & ETFs

    Top ETFs Tracking the U.S. Economy

    Bullish about the U.S. Economy? Consider these ETFs.
  8. Economics

    What’s Missing For A Turnaround In Brazil?

    Today, many investors have written off Brazil following several years of poor performance, decelerating growth and chronically high inflation.
  9. Economics

    Worried About The Fed Hike?

    With the Nasdaq crossing the threshold and the broader equity bull market entering its 7th year, many investors are anxious that stocks are in a bubble.
  10. Savings

    The Top Ten Economic Indicators In The UK

    We list below ten key economic indicators for the United Kingdom, the world’s 6th-largest economy.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center