4. Materials management is a core
function of supply chain
management, involving
the planning and execution of
supply chains to meet the material
requirements of a company or
organization. These requirements
include controlling and regulating the
5. flow of material while simultaneously
assessing variables like demand, price,
availability, quality, and
delivery schedules.
8. IDENTIFICATION OF ITEMS
Identifying goods that will be utilized in a firm is an
important component of material management since
it defines what products will be delivered to the
market. Furthermore, it is critical since it plays a
crucial role in the business's profit, as stated in the
line "the lower the cost of the material, the more
profit it will give."
9. ESTIMATING DEMAND- This portion of material
management will identify "what the community
wants," as the phrase implies, “as demand of the
community grows, profit will climb as well.
PURCHASE AND PROCUREMENT-In this part of
material management purchasing a material in a
firm is very important because this will tell if your
capital spends a lot nor using it wisely to elaborate
10. on this part we eill define later what is all about
purchasing.
11. INSPECTION AND QUALITY CONTROL- In this
element of material management. This will all
check the credibility and the worth of the product
that a firm will sell to the public. This will tell if
the product is worthy/standard or not.
STORAGE-is also a vital part of material
management because in this stage we need to
secure the raw materials that we purchased and the
13. INVENTORY CONTROL-is a necessary part of
material management because in this part a firm
will all check the availability of the raw materials
that is available in the storage area together with
the outcome product of the raw materials that the
firm was able to produce.
MAINTENANCE, REPAIR AND CONDEMNATION-
these 3 elements of material management is also
needed in a firm because this will check all the
machines and materials that is used in the
14. production of the outcome product of a firm as well
as repairing them if there are machines that are
broken or needed to be disposed.
15. INFORMATION SYSTEM- also a vital part of material
management because all the information needed in a
firm e.g. workers, expiration of raw materials, target
distribution of output product, etc. lies in. In this
part also is the correct planning on how to endorse
the outcome product to the public.
41. manpower refers to the
managerial and non-
managerial personnel
employed I an
organization.other
resources cannot act by
themselves and have to be
utilised by human beings.
Therefore ,human
43. materials represent the
physical raw materials
and intermediate products
(semi-finished goods )
which are converted
and/or assembled into
finished products with
45. machines are the equipment
used to process the materials
into finished or semi-
finished products. Employment
of modern machinery helps to
reduce costsand to
improve the quality of
output. Technology has
therefore become an important
47. methods refer to the normal
and prescribed ways of doing
things variousoperations are
performed according to
certain systems and
procedures. Use of right
methods helps to increase
efficiency ofoperations
49. money is the most critical
and all purpose resource
because it is used to acquire
or hire other resources.
In organization ,
money is employed to
generate more money in
the form of profits or
surplus. A business firm