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Material management

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  • 1. Definition Material management is the planning , directing , controlling and coordinating those activities which are concerned with material and inventory. It deals in material quality and quantity Controls the flow of material in relation to changes in variables like demand , price.
  • 2. Objectives Of Material Mgmt. Material Selection Low operating cost (without affecting the quality) Receiving and controlling the material safely and in good condition Issue material upon receipt of appropriate authority Identification of surplus stocks and taking appropriate measures to reduce it To minimize storage and control costs By minimizing waste while handling of material To purchase items of best quality
  • 3. Duties Of Material Manager Purchasing of raw material - Selection of suppliers - Delivery of material on time - To look for new products • Production control - Proper schedules for production - Time control • Inventory and stores control - Record of inventory • Traffic (shipment of RM & FG ) - Selection of carriers - Developing technique to reduce transportation cost • Physical distribution ( final goods to customers )
  • 4. Factors responsible for providing economy in Material Mgmt. Volume of purchase Plant near the source of material Fluctuations in price of material Design and engineering of the product ( design of the product should be simple so that Design of the equipment Inspection of the material before placing the order
  • 5. Importance of Material Mgmt. Ensure regular supply of material Minimizes waste Transportation costs associated with material are checked Shortages can be eliminated Better utilization of resources Timely supply of raw material
  • 6. Importance of Material Mgmt. Ensure regular supply of material Minimizes waste Transportation costs associated with material are checked Shortages can be eliminated Better utilization of resources Timely supply of raw material