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PRODUCTION AND OPERATIONS MANAGEMENT (POM)


This video consists of followings:

1. Concept and meaning of Materials Requirement Planning (MRP):
Material Requirement Planning is a special technique to plan the requirements of materials for production. For the manufacturing company to produce the end items to meet demands the availability of sufficient production capacity must be coordinated with the availability of all raw materials and purchased items from which, the end items are to be produced.
MRP is a computer-based system in which the given MPS (master production schedule) is exploded into the required amounts of raw materials, parts and sub-assemblies needed to produce the end items in each time period (week or month) of the planning horizon. The gross requirement of these materials is reduced to net requirements by taking into account the materials that are in inventory or on order.


2. Objectives of Material Requirement Planning:

i. It determines the quantity and timing of finished goods demanded.
ii. It determines the time phased requirements of the demand for materials, components and sub-assemblies over a specified planning time horizon.
iii. It computes the inventories, work-in-process batch sizes and manufacturing and packing lead times.
iv. It controls inventory by ordering materials and components in relation to orders received rather than ordering them from stock level point of view.
v. It improves customer service by meeting delivery schedules promised and shortening the delivery lead times.
vi. It reduces inventory cost by reducing inventory levels.
vii. It improves plant operating efficiency by better use of productive resources.



Check out my BLOG : http://www.pptwalablog.blogspot.in/


Reference books for Production management:

1. Production and Operations Management by S. Chary (Author) - https://amzn.to/2qheyi5 ** BEST ONE **

2. Production and Operations Management by Panneerselvam (Author) - https://amzn.to/2GL3rJ5

3. Modern Production / Operations Management, 8ed - by Buffa (Author), Sarin (Author) - https://amzn.to/2uWe2LV

4. Production and Operations Management by Kanishka Bedi (Author) - https://amzn.to/2qfbQKK





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