Manufacturing Resource Planning - MRP II

What is 'Manufacturing Resource Planning - MRP II'

Manufacturing Resource Planning (MRP II) is 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.

BREAKING DOWN '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. Materials Requirement Planning ...

    One of the first software based integrated information systems ...
  2. Marginal Revenue Product - MRP

    The change in revenue that results from the addition of one extra ...
  3. Bill Of Materials - BOM

    A comprehensive list of raw materials, components and assemblies ...
  4. Schedule II Bank

    A bank which is a subsidiary of a foreign bank and authorized ...
  5. Horizontal Integration

    The acquisition of additional business activities that are at ...
  6. Vertical Integration

    When a company expands its business into areas that are at different ...
Related Articles
  1. Economics

    Explaining Marginal Revenue Product

    Marginal revenue product (MRP) accounts for the change in revenue that results from the addition of one extra unit, keeping all other factors equal.
  2. Fundamental Analysis

    Enterprise Resource Planning (SAP, ORCL)

    The many benefits of ERP systems such as greater control, improved productivity and better integration offset risks such as its high cost and possibility of implementation failure.
  3. Professionals

    Data Integrity Analyst: Job Description & Average Salary

    Learn about the average salary of a data integrity analyst and the required skills, education and previous experience needed to fill this role.
  4. Investing Basics

    Enterprise Resource Planning System: A How To

    An ERP system won’t transform poor management into good management, but the real-time business analytics can help make good management even better.
  5. Economics

    Explaining Enterprise Resource Planning

    Enterprise resource planning (ERP) is management software that integrates a business’ essential departments.
  6. Investing

    Asset Manager Ethics: Rules Governing Capital Markets

    The integrity of the capital markets needs to be kept at utmost importance for all investors. This article shows how to maintain the integrity while investing.
  7. Economics

    Inside National Payment Systems

    Investopedia explains: The global interconnection of U.S. payment systems makes commerical and financial transfers possible.
  8. Trading Systems & Software

    Trading Systems: Designing Your System - Part 2

    The preceding section on designing a trading system examines the different types of markets in which to trade, and takes a look at the two basic genres of trading systems: trend-following and ...
  9. Trading Systems & Software

    Trading Systems: Constructing A System

    So far, we have discussed the basic components of trading systems, the criteria they have to meet, and some of the many empirical decisions that a system designer must make. In this section, ...
  10. Investing News

    Common Interview Questions for Data Integrity Analysts

    Prepare for a data integrity analyst job interview by identifying some of the key questions commonly asked and developing winning responses.
RELATED FAQS
  1. On which financial statement does a company list its raw material costs?

    Discover what items are raw materials, how raw material costs affect businesses, and where these costs are recorded on a ... Read Answer >>
  2. What causes human capital to depreciate?

    Read about what life events may cause a worker's human capital to depreciate, both in absolute terms and relative value compared ... Read Answer >>
  3. How do I calculate the Macaulay duration of a zero-coupon bond in Excel?

    Understand the difference between a horizontal integration and a vertical integration. Learn when a company would want to ... Read Answer >>
  4. When does it makes sense for a company to pursue vertical integration?

    Discover how vertical integration allows firms to take more control over production costs, the quality of its products and ... Read Answer >>
  5. How does Enterprise Resource Planning (ERP) assist in human resources planning?

    Read about how enterprise resource planning could help improve a company's human resources planning, both directly and indirectly. Read Answer >>
  6. How does horizontal integration allow companies to share resources?

    Learn how horizontal integrations allows companies to share resources. Understand specific examples of horizontal integrations ... Read Answer >>
Hot Definitions
  1. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  2. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  3. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  4. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  5. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  6. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
Trading Center