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Material Requirement Planning (MRP) is a process that translates finished product requirements into time phase requirements for sub-assemblies, component parts, and raw materials using lead times. To develop MRP, knowing the required number of items to assemble end items is crucial, utilizing the product structure tree and quantity on hand from inventory records. Constructing an assembly time chart is essential for showing material order points to meet scheduled end item availability. Subscribe to the channel for more videos on MRP development.