Master Production Schedule (MPS). The demand for end items is scheduled over a number of time periods and recorded on the MPS. The MPS expresses how much of each item is wanted and when it is wanted. This schedule is developed from forecasts and firm customer orders for end items, safety stock requirements, and internal orders. MRP takes the master schedule for end items and translates it into individual time-phased component requirements.
The Bill of Materials (BoM) is a hierarchical list of components used in the assembly of a product. The BoM can be used for cost estimates, but is also used for inventory control and tracking where parts are used. Essentially, the BoM is the recipe for the product that has been included in the MPS. It is a list of components, sub-assemblies and, ultimately, materials and services that need to be ordered to satisfy the order.
Inventory status records contain the status of all items in the inventory, including on hand inventory and scheduled receipts. These records must be kept up to date, with each receipt, disbursement, or withdrawal documented to maintain record integrity.
