Material Requirements Planning (MRP) aims to increase manufacturing efficiency by managing the
- production schedule,
- reducing inventory,
- increasing cash flow, and
- delivering products in a timely manner.
In the context of quality management, measurement refers to the process of quantifying a characteristic or attribute of a product, service, or process.
Muda (Japanese: waste) describes Toyota's concept in the Toyota Production System (TPS) to improve profitability by waste reduction.