Capterra Glossary
Closed-loop MRP (Closed-loop Material Requirements Planning)
Closed-loop material requirements planning (Closed-loop MRP) is a system that improves production planning and inventory management. It contains a feedback feature that lets organizations carry out many tasks associated with material requirements planning, such as purchasing materials, scheduling and dispatching, and managing reports from stores and vendors.
What Small and Midsize Businesses Need to Know About Closed-loop MRP (Closed-loop Material Requirements Planning)
Small companies in the manufacturing or production sectors can use Closed-Loop MPR to rush orders, improve lead times, and better manage their inventories. Closed-loop MPR can also optimize master production schedules and support capacity planning requirements.
Related Terms
- Enterprise Resource Planning (ERP)
- Procurement
- Total Cost of Ownership (TCO)
- Vendor
- Supply Chain Planning (SCP)
- Telematics
- Senpai
- Vendor Management
- Value-Added Reseller (VAR)
- Bill of Materials (BOM)
- Supply Chain
- Smart Factory
- Scanner
- SCADA (Supervisory Control and Data Acquisition)
- Radio-frequency Identification (RFID)