Material requirements planning – MRP in Streamline
What is Material requirements planning (MRP)?
In order to calculate what metarial 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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- 99+% inventory availability.
- Up to 99% forecast accuracy.
- Up to 98% reduction in stockouts.
- Up to 50% reduction in excess inventory.
- 1-5 percentage points margin improvement.
- Up to 56X ROI in one year. 100% ROI in the first 3 months.
- Up to 90% reduction in time spent on forecasting, planning, and ordering.