A master production schedule helps manufacturers plan which products and how many to produce for a certain period. It’s a proactive technique that helps companies prepare for upcoming seasons. The main goal of an MPS is to align sales demand with manufacturing capacity. MPS gives companies a re...
In its original form, MRP refers to material requirements planning. This term was coined around 60 years ago and constituted a then-revolutionary technique for managing inventories and scheduling manufacturing processes. Today, material requirements planning is known as MRP I, and even though it put ...
They are often used together with ABC analysis, an inventory management technique that helps prioritize items by their value, thereby giving an indication of which items should be counted more frequently and which items need less attention. More on that later. What to do if a cycle count is ...
Although the MPS does not adhere to a predefined time frame, managers generally chart its course to encompass a sufficiently distant future, allowing for a preliminary grasp of anticipated demands in the upcoming stretch. Equally vital is the inclusion of stacked or cumulative lead times essential ...