MASTER PRODUCTION SCHEDULE
A Master Production Schedule is a Schedule of the completions of the end items and these completions are very much planned in nature. Master production schedule acts as a very distinct and important linkage between the planning processes. With the help of this schedule, one can know the requirements for the individual end items by date and quantity. In companies, MPS are generally produced in order to know the number of each product that is to be made over some planning horizon. This schedule forms a very unique part of the company’s sales program which deals with the planned response to the demands of the market.
A master production schedule is also in management language referred to as the master of all the schedules as this schedule provides the production, planning, purchasing & top management, the most needed information required for planning and control of the whole manufacturing process or the operation.
Master production scheduling plays an important role in the balancing of demand with the supply i.e. satisfying customers according to the limits of the factory and the supplier’s base. MPS is used to know the number of the items that are to be produced, the planned inventories of raw materials, finished products and parts etc. MPS tells the company what is to be made or produced and also refers to the time in which this production of the products is to be completed. It must be kept in mind that MPS does not act as a sales forecast or as a manufacturing schedule or a wish list or a final assembly schedule. MPS can be linked only with the final products and not with the planning involving the production of parts or the components, as these listings require very detailed planning – so these are left to the other plans that will follow this schedule.
What are the Objectives of MPS?
Objectives of Master Production Schedule (MPS)
1. Keeping the inventories at the desired level by making perfect use of the resources that are...