Similar to ERP, Material Requirements Planning or MRP is one of the most important aspects of manufacturing. It is a way for manufacturers to connect their inventory forecasting with their accounting department. It is required to streamline the process of manufacturing right from raw materials to the finished products. For efficient streamlining, an MRP software has multiple features. They are:

• Production control
• Inventory control
• Cost reporting
• Scheduling
• Bills of material
• Capacity planning
• Estimation
• Warehouse management
• Accounts payable
• Change control
• Sales analysis
• Purchase ledger

However, there are certain features of a manufacturer software that are more in demand than others.

• Demand prediction
  Forecasting demand for outgoing inventory is an essential factor of increasing profits of a manufacturing business. Manufacturing too less will cause a production backlog, whereas overdoing it will lead to an excess of finished products occupying too much of inventory space. This is why demand prediction is one of the most in-demand features of an MRP software. With this, a manufacturing company can easily predict with accuracy how many orders are required to be managed. Most manufacturer’s software has demand forecasting capability with the following features: historical data gathering, generating forecasts based on the data, and authorization of the forecast.
• Production planning
  An MRP software automates and creates finite schedules for the completion of manufacturing jobs. After determining the required inventory, the software will plan production by determining lead ties, production times, and the overall project time. It takes into account the purchase and procurement of materials and supplies required for the manufacturing process. High volume companies usually benefit from this feature since there is less variance in their overall demand for finished goods. A routine schedule enables complete utilization of the production line, ensuring maximum output. Most MRP software allowS manufacturers to fine tune their production schedule using the production planning feature to get the best out of their manufacturing process.
• Purchase scheduling
  One of the core features of a manufacturer’s software is purchase scheduling or purchase planning. This feature is required to determine the timely purchase of raw materials for the manufacturing process in order to meet the demand. This feature assists the purchasing department in understanding what is required for orders placed and for demands that have been forecasted by the system. Also, it helps determine the exact list of materials and its quantities required to finish a manufacturing job. Moreover, since production planning may change from time to time based on demand forecasts, purchase planning becomes a critical feature while looking for an MRP software.

Manufacturer software include the most essential tools and resources used for business planning in production, operations, and inventory management. An MRP (Manufacturing Resource Planning) software takes care of a project from the initial planning and production phase to the final sales and inventory tally. Small businesses can benefit from these software as they eliminate the need for additional manpower to track the processes and offer automation.

Here are the popular choices for manufacturer software trending in the market today.

MRPeasy
MRPeasy is an affordable option for small business owners. The self-sufficient tool offers excellent management of production, purchasing, finance, stock, customer, and team resources to seamlessly keep track of everything from one place. The key features include production planning and accurate reporting of utilization, real-time inventory analysis, and excellent customer relationship management to improve sales. Their starter bundle with support for ticket system is priced at a measly $49/user/month for the first 10 users. It’s a truly affordable cloud-based MRP software that gives your business a competitive edge.

Katana
Katana definitely goes beyond your average business resource planning. This manufacturer software features an easy-to-use drag and drop interface for production planning with real-time inventory tracking, optimization, and control. You also get dedicated dashboard tools for sales order management, right from tracking the availability of the products to coordinating sales from across different platforms. Dedicated floor-level production employee and production line task lists also keep track of all the current work orders. Additionally, you get finance tools for purchasing and making accurate pricing decisions. Katana can also seamlessly integrate with popular eCommerce and online accounting platforms, including Shopify, QuickBooks, Xero, and WooCommerce. You get a free 14-day trial to test all features and pay only $99/month afterward, with add-ons for essential tools sold separately.

IQMS
Enjoy the best of both worlds with MRP and Enterprise Resource Planning (ERP) functions embedded in a single software providing all-round solutions at an affordable price. This software can cater to small businesses, medium enterprises, and large-scale organizations alike. IQMS features an array of resources for material requirements planning, labor capacity planning, auxiliary equipment planning, work center capacity planning, and rough cut capacity planning, all of which are essential units of a manufacturing facility. You can get a direct quote from the vendor based on the business size and requirements.