Definitions for "QRP"
(Quality Replacement Parts) Used, aftermarket, or remanufactured parts.
Abbreviation for quick response program.
Quick response program. A system of linking final retail sales with production and shipping schedules back through the chain of supply; employs point-of-sale scanning and electronic data interchange, and may use direct shipment from a factory to a retailer.
Qualified Retirement Plan. tax-deferred plan established by an employer for employees under IRS rules. A qualified retirement plan usually includes provisions for employer contributions (money purchase pension plans) and may also allow employee contributions. Certain deductions and other tax benefits may apply to employer contributions to these plans. The plans build up savings, which are paid out at retirement or on termination of employment . Employees pay taxes only when they withdraw the money. Examples of qualified retirement plans include 401(k), 403(b), Money Purchase, Profit Sharing, Defined Benefit, and Keoghs.