A MATERIAL REQUIREMENTS PLANNING (MRP), GOODS REPLENISHMENT APPLICATION FOR DEMAND & INVENTORY PLANNING USING DATA AND ANALYTIC
AbstractRepl enish ment for Demand & Inv entory P lanning is a way to effici ent ly manage flo w of the goods as th ey mov e throughout the entire supply chain from the manu factu rer to the supplier to warehouse and sh ipment location. It const antly check sto ck vs. demand. A good replenishment system help to avoid hu man errors, for inst ance mis sing to place an order in the system, o r ent er wrong informati on. An in telligent replenish ment system can be con fig ured to auto mate trigg ers to order/re-ord ering the go ods , s ugg est alt ernativ e app roaches to get the goods (e.g. Transfer of go ods from Di st ribut ion center or location instead of pu rchasing from th e supplier), it also facto rs in forecast changes in demand and adjusts the replenish ment ord ers. The to ol can overall improve service levels, gain effici ency, leads to reduce cost and improves customer sat isfacti on.The perseverance of this study is to recogni ze the element s of Materi als Requi rement Planning (MRP) and impl ement to our selected probl em. Mai n obj ective of MRP is to manage dependent demand items, high inv entory turnov er and lo w payabl e cost. A common and effecti ve problem which rise in Manufactu ring and small , medi um-Sized Firms and industri es was taken for understand and all possible facto rs are taken and dis cussed after th at th e solution procedure is appli ed and result is presented. This paper des crib es the impo rtance and featu res of go ods repl enish ment tool for Demand & Invento ry P lanning categorized as Material requi rements planning MRP using Dat a and Analytic. We are going to introdu ce entire list of the key featu res that are designed sp ecific as per th e requi rement of the Supply chain in the Oil and gas industry. Copyright © 2020, Farhana Sethi. This is an open access article distributed under the Creative Commons Attribution Lice nse, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.