Introduction to Material-Management

Jun 28th, 2015
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Abilene Christian University
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DEFINITION - Material management is defined as an approach for planning , organizing ,and controlling all those activities principally concerned with the flow of materials into an organization. This includes the storage of raw material and parts and the manning of production operation centres.

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Material ManagementDefinition: Material Management maybe defined as the function responsiblefor the co-ordination of planning,sourcing, purchasing moving storingand controlling materials in an optimummanner so as to provide a pre-decidedservice to the customer at a minimumcost.Functions of Material ManagementMaterial planning and Programming Purchasing and procurement of material Storing and administration Inventory control Value analysis, standardization andsimplification External transportation Material handling ( Internal transportation) Disposal of scrap, surplus and obsoletematerial; salvage.Objectives of Material ManagementTo minimise material costTo ensure continuous and uninterruptedproduction or operation by maintaining a steadyflow of materials in efficient and economicmanner.To achieve economy in the cost of materials whilepurchasing, storing and processingTo improve qualityTo increase competitiveness of products byreducing their price.To ensure co-operation among all departments ofthe enterprises to meet material managementobjectives at corporate and functional levels.To trace new sources of supply.Advantages of Material ManagementBetter accountability Better co-ordination Better performance Adoptability of Electronic Data Processing(EDP) Miscellaneous Advantages: team spirit.Organization of Material ManagementChief executivePersonnelManag

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