What is MRP? How is it used in the service industry?

Question

What is MRP and what kind of industries would use MRP?

Answer 1

The MRP is the material requirement planning, the manufacturing industry use these system to prevent the waste in the material consume and to have a control of what they will use for a specific process.

Answer 2

MRP is an acronym for manufacturer's retail price which is the price a producer of goods sets for sale of its product to the general consumer. Retailers can sell at or below that price but rarely would they try to sell above it.  Just about any type of manufacturer who produces goods for consumption could use it but it wouldn't be something used in the service industries parse.