function of Material-Management

Jun 28th, 2015
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Abilene Christian University
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It is concerned with planning, organizing and controlling the flow of materials from their initial purchase through internal operations to the service point through distribution.

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MODULE 6Materials Management5 Ms important to production process are Men, Machine,Money , Methods and Material .Early days from Men to Methods it was varying, now-adays materials have more important.There are several reasons behind it,1) Amount spent on materials is higher than other inputs2) Materials offer considerable scope for reducing cost andimproving profit3) Improving return on investments depends on theeffective utilisation of materials.4) Materials add value to a product.5) Materials contribute to the quality of the end product6) Material management assume responsibility for whateverhappen in purchasing , storing, inventory or any otherarea connected with materials.7) Need for preservation of scarce resource for posterity.8) Increasing demand for ensuring environmental safety.9) The efficiency of any organization depends upon theavailability of right materials ,in right quality, at righttime and at right price.10) Relationship between man and materials is indivisibleObjectives of material managementIf contribution of material to over all companyachievement is direct, it is called as primary and if it isindirect contribution, then it is called as secondary.Primary objective1. Low Prices2. High inventory turnover3. Low cost acquisition and possession4. Continuity of supply5. Consistency of quality6. Low Payroll costs7. Favorable supplies relations8. Development of personnel9. Good recordsSecondary Objectives1. Re

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