In 4-5 sentences, respond to the following:
Material Requirements Planning (MRP)- is a “computerized inventory control and production planning system.”
Capacity Requirements Planning (CRP)-“creates a load profile that identifies under loads and over loads”
Enterprise Resource Planning (ERP)- “Software for managing the basic requirements of an enterprise, including sales & marketing, finance & accounting, production & material management, and human resources.“ (Russell & Taylor III, 2014)
Typically these system are used in production of products. Though ERP and MRP can be used by service industries. ERP since it ties all the functional areas together using an enterprise base system. While MRP could be used for services control and production of those services. Though like most systems companies will have to evaluate if the system is effective, efficient, and meets their needs. As well as looking at cost of the process. Since everything is dollars and cents in business. Is the cost of using these systems out way the benefits of like a management strategy?