What is the set of priority planning techniques for planning component items below the end item level called?

The set of priority planning techniques for planning component items below the end item level is known as Material Requirements Planning (MRP). MRP focuses on ensuring that all necessary materials and components are available for production while minimizing inventory costs. It operates by taking into account the demand forecast for finished products and then calculating the necessary components and materials required to meet that demand.

In an MRP system, the master schedule provides the demand for end items, which is then broken down into specific component parts based on their bill of materials (BOM). This hierarchical approach allows for precise planning of component quantities and their timing, ensuring that materials arrive just in time for production. Consequently, MRP is essential for effective inventory management and operational efficiency.

This distinguishes MRP from the other concepts listed. Master scheduling typically deals with planning at the finished goods level and does not specifically focus on component items. Capacity planning is concerned with determining production capacity needed to meet changing demands and is not about individual item planning. Production control focuses on the execution phase of the production process rather than the planning of components based on demand.