advantages of material requirement planning

Most of the SMEs today are facing problems in inventory control, delayed production, delayed in delivery and many such problems, this causes excess or shortage of materials in inventory, departments not getting materials in stipulated time and unhappiness of employees as well as customers But why are such problems so common in SMEs? These problems arise as a result of improper planning and management of materials. If proper planning is done, industries will know how much inventory to keep, causes of delay and estimate the correct time of delivery. This will help in preventing production de...