| Bill of Material (BOM) | A computer file that contains the complete product description, listing the materials, parts, components, and the sequence in which the product is created.
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| Closed-Loop MRP | The use of actual data from the production system to continually update the MRP system. This feedback is provided so that planning can be kept valid at all times.
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| Flow Manufacturing | Hybrid production planning systems that combine the information integration and planning capabilities of MRP with the response of a JIT kanban system.
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| Manufacturing Resource Planning (MRP II) | An expanded version of MRP that integrates finance, accounting,accounts payable, and other business processes into the production scheduling and inventory control functions that are part of a basic MRP system.
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| Master Production Schedule (MPS) | A time-phased plan specifying how many and when the firm plans to build each end item.
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| Materials Requirements Planning (MRP) | The logic for determining the number of parts, components and materials, needed to produce a product. MRP also provides the schedule specifying when each of these materials, parts, and components should be ordered or produced.
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| Net Change System | An MRP system that calculates the impact of a change in the MRP data (the inventory status, BOM, or master schedule) immediately. This is a common feature in current systems.
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