CORE CONCEPTS OF MANAGEMENT
MARKETING MANAGEMENT
FINANCIAL MANAGEMENT
HUMAN RESOURCES MANAGEMENT
OPERATIONS & PRODUCTION MANAGEMENT

Materials Requirement Planning and Vendor Development
The demand for a specifi c item of inventory is, more often than not, dependent on the demand for other items. The logic of this demand dependence is the basis of MRP. The author, Dr. J P Char, introduces the concept through a comparison with the EOQ system of the earlier lesson (OP/PM07). Through simple illustrations the author elaborates on the concept of Bill of Materials, indented bill and net requirement computation. The author also delves into lot size decisions and the concept of the safety stock. There is emphasis on CRP, MRP-II and Vendor Selection & Training.
OP/PM08

19 Mins

30 Mins

60 Pages
Equivalent classroom time: 8hrs