What is the difference between MRP and MPS?

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MRP stands for Material Requirements Planning, which is a system used for planning and managing inventory levels. MPS stands for Master Production Schedule, which is a detailed plan for production.

MRP focuses on determining the materials needed for production based on demand forecasts and inventory levels.
MPS focuses on creating a detailed schedule for production activities, including specific quantities and timing of production orders.
MRP helps in ensuring that materials are available when needed for production, while MPS helps in coordinating production activities to meet customer demand.
Example: In a manufacturing company, MRP would determine the quantity of raw materials needed for production based on sales forecasts, while MPS would schedule the production of finished goods based on the availability of resources and production capacity.

What is the difference between MRP and MPS?

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