What is a Master Production Schedule (MPS)?
In short, an MP is a plan that details how many end items will be produced within specific periods of time.
A Master Production Schedule or MPS is the blueprint that a corporation has developed for manufacturing, inventory, staffing, etc. It sets the quantity of each end item to be realized in each week of a short-range planning horizon. A Master Production timetable is the master of all schedules. It is a plan for future production of end items (inventory solutions).
- Forecast Demand
- Production Costs
- Inventory Costs
- Customer Orders
- Inventory Levels
- Lot Size
- Production Lead Time
MPS OUTPUT (production plan):
- Amounts to be Produced
- Staffing Levels
- Quantity Available to Promise
- Projected Available Balance
- (Inventory Solutions)
Developing a Master Production Schedule requires:
1. Calculating the projected on-hand inventory, and
2. Determining the timing and size of production quantities of specific products (Krajewski)
Inventory Solutions Logistics Corp, " The Master Production Schedule", 2007
Krajewski, Ritzman, Malhorortra, "Operations Management', 9th Edition, Prentice Hall, (p. 547).