Optimizing Coal Mine Inventory Costs with Material Requirements Planning
Material requirements planning (MRP) is an efficient material control system that integrates the production planning and inventory management functions. Net material requirements are determined from the production forecast utilizing bill of material files, the inventory status file, and the purchase order status file. Net requirements are computed for each period in a specified planning horizon and purchase orders, offset by lead time, are initiated routinely to ensure timely receipt of materials. The MRP system is especially useful in inventory systems in which consumption of materials is production dependent.
R. L. Grayson and Y. Wang, "Optimizing Coal Mine Inventory Costs with Material Requirements Planning," Transactions of the American Institute of Mining, Metallurgical, and Petroleum Engineers, Society, American Institute of Mining, Metallurgical and Petroleum Engineers (AIME), Jan 1986.
Mining and Nuclear Engineering
Article - Journal
© 1986 American Institute of Mining, Metallurgical and Petroleum Engineers (AIME), All rights reserved.