MRP stands for Material Requirements Planning, and is a key component of many businesses’ operations. It is a system used to plan the procurement, production, and delivery of goods and materials that consists of three modules: inventory control, material ordering, and production scheduling. In essence, an MRP program helps to ensure organizations have enough resources on hand at any given time to meet their needs without over- or under-ordering. It also helps them stay organized and efficient by tracking orders, anticipating potential problems, and providing timely updates so decisions can be made in a timely manner. By combining these functions into one streamlined process, businesses can maximize their efficiency while minimizing waste.