The hexose monophosphate pathway (HMP), also known as the pentose phosphate pathway, is an alternative to glycolysis focused on the production of NADPH and pentoses which are vital for biosynthetic processes including fatty acid and nucleotide synthesis. It consists of an oxidative phase that generates NADPH and a non-oxidative phase that interconverts sugar phosphates, producing intermediates for glycolysis and nucleotide synthesis. The pathway is crucial for cells lacking mitochondria, providing reducing power and addressing oxidative stress, particularly in erythrocytes.