Term
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Definition
| A feature of MRP systems that identifies the difference between the number of units currently included in the master schedule and the actual (firm) customer orders. |
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Term
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Definition
| A computer file that contains the complete product description, listing the materials, parts, and components, and also the sequence in which the product is created. |
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Term
| Enterprise Resource Planning (ERP) |
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Definition
| A computer system that integrates application programs in accounting, sales, manufacturing, and the other functions in a firm. |
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Term
| Master Production Schedule |
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Definition
| A time-phased plan specifying how many and when the firm plans to build each end item. |
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Term
| Material Requirements Planning (MRP) |
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Definition
| The logic for determining the number of parts, components, and materials needed to produce a product. |
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Term
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Definition
| An MRP system that calculates the impact of a change in the MRP data (the inventory status, BOM, or master schedule) immediately. |
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