What does MPS stand for?

My answer is<<<<<<<<<<<<<>>>>>>>>>>>>> Master Production Schedule

Master Production Schedule................................

MPS is refers to 

2. Master Production Schedule

MPS is elaborated as Master production schedule, which is a schedule or a plan for specific merchandises to be formed in each time period such as production, staffing, inventory etc. Generally MPS is linked with manufacturing where the strategy point towards when and how much of each product will be necessitated. Through MPS production can be optimized by quantifying significant processes, parts, and other resources in order to optimize production, to identify bottlenecks, and to anticipate needs and completed goods. Subsequently an MPS drives abundant factory activity, its precision and practicability vividly affect profitability. Typical MPS's are generated by software with user tweaking.

In arrears to software precincts, nonetheless principally the intense work required by the master production schedulers, schedules do not take account of every single phase of production, but merely crucial elements that have demonstrated their control effectivity, such as forecast demand, production costs, inventory costs, lead time, working hours, capacity, inventory levels, available storage, and parts supply. The choice of what to model varies among companies and factories. The MPS is a declaration of what the company presumes to produce and purchase

The MPS interprets buyers demand into a build plan by means of planned orders in a factual element scheduling environment. Incorporation of MPS in an organization helps to eradicate shortages, costly expediting, last minute scheduling, and inefficient allocation of resources. Also MPS allows businesses to consolidate planned parts, produce master schedules and forecasts for any level of the Bill of Material for any type of part.

The mechanism of MPS is by dint of using several variables as inputs, the MPS will engender a set of outputs used for decision making. Inputs may take account of forecast demand, production costs, inventory money, customer needs, inventory progress, supply, lot size, production lead time, and capacity. Inputs may be inevitably generated by an ERP system that links a sales department with a production department. For example, once the sales department accounts a sale, the forecast demand possibly will be routinely shifted to meet the new demand. Inputs may well also be entered physically from forecasts that have also been calculated manually. Outputs can include quantities to be produced, staffing levels, quantity available to possibilities, and projected available balance. Outputs may be used to create a Material Requirements Planning schedule.

master production schedule is the answer

Thanks for the invite I agree with the experts answers

Hello Team,

In IT manufacturing terminology MPS stands for Master Production Schedule.

MPS stands for Master Production Schedule. A Master Production Schedule is the virtually exact same thing as MRP (Material Requirements Planning)—the calculations are exactly the same. But there is one distinction.

MPS plans items that have “direct” demand—called independent demand. Independent Demand means that its demand comes from Sales Orders, Service Orders, or forecasts. The demand is directly from the customer requirements (or forecasted requirements).

Regards,

Saiyid

The correct answer is serial no 01- Material Planning System.

The correct answer is 

2. Master Production Schedule 

Material planning system is suitable for warehouse management.....