PSIE Industrial Magazine Volume 1 Issue 1 - Page 21

Page 21 Volume 1, Issue 1 Summaries of Final Year Projects “To Develop a Computer Aided Tool for MRP” Shahzad Shabab Inventory is a significant constituent of any industry. Every manufacturing industry has to order for some raw material whereby manufacturing operations are performed to convert raw materials into valuable products. Inventory in any industry exist in many forms; it may be in the form of work in process (WIP) inventory, finished goods inventory, raw material inventory, spare parts and so many others. Hence, to control these various types of inventories is of paramount importance in every industry. Some industries invest profoundly in ordering and procuring of raw materials and processing of all excessive raw materials will result in increased WIP level and also increased finished good inventory. Most importantly too much inventory hides many discrepancies that actually exists in the system. We selected the project on inventory control because there was very less awareness about inventory control in local industries and most of them are oblivious of the benefits which they could achieve by controlling their inventory to the most optimum level. Furthermore, commercially available tools for material requirement planning (MRP) are very expensive and not easy to afford for many SMEs (Small and Medium Enterprises) existing in Pakistan. This was a driving force for us to develop the MRP tool which is not only effortlessly available but is flexible enough to be implemented in any species of industry