A computer file that contains the complete product description, listing the materials, parts, components, and the sequence in which the product is created.
Master Production Schedule (MPS)
A time-phased plan specifying how many and when the firm plans to build each end item.
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.
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.
