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. Inventory

    The raw materials, work-in-process goods and completely finished ...
  6. Supply Chain

    The network created amongst different companies producing, handling ...
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. Forex

    What to Expect After the Swiss Currency Shock

    What to expect for the world economy after the Swiss currency shock.
  5. Economics

    No Exit: What Could Happen If the Eurozone Breaks Up?

    There is no exit strategy for nations in the eurozone or the EU because most members acknowledge that they are far better off together than apart.
  6. Economics

    What are some limitations of the consumer price index (CPI)?

    Explore some of the basic limitations of the widely used economic indicator, the consumer price index, or CPI, and examine the criticism of its accuracy.
  7. Economics

    Can the consumer price index (CPI) for individual areas be used to compare living cost among areas?

    Understand why the Consumer Price Index, or CPI, cannot appropriately be used for comparing the cost of living across different areas of the country.
  8. Economics

    Does the consumer price index (CPI) correlate with the change in price of goods and services?

    See why the consumer price index is a questionable proxy for inflation, and why it is unlikely to represent experiences with price changes accurately.
  9. Economics

    Is the consumer price index (CPI) a cost of living index?

    Explore the consumer price index (CPI) and understand why it is not an actual cost of living index although it is often identified as one.
  10. Investing

    What Are The Latest News On The Beer Industry?

    Beer isn’t a traditional commodity, as there are no futures markets associated with it, but it is considered an alternative investment.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center