Final answer:
MRP is a comprehensive system that includes production planning, scheduling, and order tracking in addition to inventory management.
Step-by-step explanation:
MRP, which stands for Material Requirements Planning, is indeed more than just an inventory system.
It is a comprehensive planning and control system that helps businesses manage their manufacturing processes.
Apart from inventory management, MRP also possesses additional capabilities such as production planning, scheduling, and order tracking.
For example, MRP can determine what materials are required for a specific production order, when they are needed, and in what quantity.
It can then generate a schedule for the manufacturing process, calculate lead times, and track the progress of each order.
In summary, MRP is a powerful tool that goes beyond basic inventory management, providing businesses with the ability to efficiently plan and control their production processes.