Material requirements planning – MRP in Streamline
What is Material requirements planning (MRP)?
In order to calculate what material is required and when an order can go to production an MRP process takes into account information on the Bill of Materials (BOM), production plan and material plan. A material requirements plan is calculated based on the demand forecasts of finished products.
What is Bill of Materials (BOM)?
Streamline allows you to generate a plan of material requirements based on the demand forecasts of finished products and a bill of materials (BoM). A bill of materials is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and the quantities of each needed to manufacture an end product.
Benefits of using Streamline:
- Forecast, plan, and place orders twice as fast.
- 90-98% reduction in stockouts.
- 15-50% reduction in excess inventory.
- 35% higher inventory turnover.
- 10-40X ROI in the first year. 100% ROI in the first month.
- GMDH Streamline already manages over $5 billion in inventory for retailers, wholesalers, distributors, manufacturers, and ecommerce worldwide.
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Further Videos:
- How to deal with supply chain processes during the Coronavirus outbreak
- Why switch from Excel to inventory planning software
- Must-read: Smart Supply Chain Management solutions for business processes optimization
- Cross-Functional Alignment in Supply Chain Planning: A Case Study of Sales and Operations Planning [PDF]
- Demand & Supply Management: Collaborative Planning, Forecasting & Replenishment
Still relining on manual work in Excel for sales and operations planning (S&OP)?
See what Streamline can do for you
- Achieve optimal 95-99% inventory availability, ensuring you can meet customer demand consistently.
- Attain up to 99% forecast accuracy, getting more reliable planning and decision-making.
- Experience up to a 98% reduction in stockouts, minimizing missed sales opportunities and customer dissatisfaction.
- Cut excess inventory by up to 50%, freeing up valuable capital and storage space.
- Increase margins by 1-5 percentage points, boosting overall profitability.
- Enjoy up to 56 times ROI within one year, with a 100% ROI achievable in the first three months.
- Reduce the time spent on forecasting, planning, and ordering by up to 90%, allowing your team to focus on strategic activities.
