Manufacturing Resource Planning - MRP II
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 Definitions
Articles Of Interest
-
A Practical Look At Microeconomics
Learn how individual decision-making turns the gears of our economy. -
What Are Economies Of Scale?
Is bigger always better? Read up on the important and often misunderstood concept of economies of scale. -
The Evolution Of Enterprise Risk Management
This growing sector can tell you a lot about the companies you are investing in. -
Economic Indicators That Do-It-Yourself Investors Should Know
Understanding these investing tools will put the market in your hands. -
Earnings Guidance: Can It Accurately Predict The Future?
Explore the controversies surrounding companies commenting on their forward-looking expectations. -
Why The Consumer Price Index Is Controversial
Find out why economists are torn about how to calculate inflation. -
Predict Inflation With The Producer Price Index
Find out how the PPI can be used to gauge the overall health of the economy. -
Consumer Spending As A Market Indicator
What people buy and where they shop can provide valuable information about the economy. -
Leading Economic Indicators Predict Market Trends
Leading indicators help investors to predict and react to where the market is headed. -
Trading The Non-Farm Payroll Report
Discover how to trade the NFP report without getting knocked out by the irrational volatility it can create.
Free Annual Reports