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Logistics Glossary - M
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Major Carrier: A for-hire certificated air carrier that has annual operating revenues of $1 billion or more. The carrier usually operates between major population centers.
Manufacturing Resource Planning (MRP II): A method for the effective planning of all resources of a manufacturing company. Ideally, it addresses operational planning in units, financial planning in dollars, and has a simulation capability to answer what-if questions. It is made up of a variety of processes, each linked together: business planning, production planning (sales and operations planning), master production scheduling, material requirements planning, capacity requirements planning, and the execution support systems for capacity and material. Output from these systems is integrated with financial reports such as the business plan, purchase commitment report, shipping budget, and inventory projections in dollars. Manufacturing resource planning is a direct outgrowth and extension of closed-loop MRP.
Materials Handling: The physical handling of products and materials between procurement and shipping.
Materials Management: Inbound logistics from suppliers through the production process. The movement and management of materials and products from procurement through production.
Materials Planning: The materials management function that attempts to coordinate the supply of materials with the demand for materials.
Materials Requirements Planning (MRP): A decision-making methodology used to determine the timing and quantities of materials to purchase.
Maximum Order Quantity: An order quantity modifier applied after the lot size has been calculated, that limits the order quantity to a pre-established maximum.