Codification of materials can also be termed as the identification of materials. This deals with uniquely identifying each item in the inventory. It is a simple concept. For a good quality control system a unique identification is a pre-requisite.
Codification of materials can also be termed as the identification of materials. This deals with uniquely identifying each item in the inventory. It is a simple concept. For a good quality control system a unique identification is a pre-requisite.
1.Introduction
2. Objective of stock verification
3. Methods of stock verification
4. Who should do the stock taking
5. Treatment of discrepancies (Reconciliation)
6. Application
7. Conclusion
Material management is a scientific technique, concerned with Planning, Organizing & Control of flow of materials, from their initial purchase to destination.
Inventory generally refers to the materials in stock. It is also called the idle resource of an enterprise. Inventories represent those items, which are either stocked for sale or they are in the process of manufacturing or they are in the form of materials, which are yet to be utilized.
1.Introduction
2. Objective of stock verification
3. Methods of stock verification
4. Who should do the stock taking
5. Treatment of discrepancies (Reconciliation)
6. Application
7. Conclusion
Material management is a scientific technique, concerned with Planning, Organizing & Control of flow of materials, from their initial purchase to destination.
Inventory generally refers to the materials in stock. It is also called the idle resource of an enterprise. Inventories represent those items, which are either stocked for sale or they are in the process of manufacturing or they are in the form of materials, which are yet to be utilized.
SIM Unit 4
Store management :
Materials handling,
Flow of goods/FIFO,
Computerization of inventory transactions
Security of stores,
Stocking and technical impacts-
shelf life,
wastage,
pilferage
Provides a detailed explanation of different aspects of material control. Very useful to undergraduate students of different universities and cost accounting professional students
Material Handling
Objectives of Materials Handling
Material Handling Principles
Storage Equipment
Belt Conveyor
Store Management
Objectives of store
Spare Part Management
Classification of Spare parts for stocking policy Analysis
Codification
Objectives of Codification
Standardization
Advantages of Standardization
The material cost chapter delves into the fundamental concept of material costs within the realm of production and manufacturing. Material costs represent a significant portion of total production costs for many businesses, making it essential for managers to understand how to effectively manage and control these expenses.
Enriching engagement with ethical review processesstrikingabalance
New ethics review processes at the University of Bath. Presented at the 8th World Conference on Research Integrity by Filipa Vance, Head of Research Governance and Compliance at the University of Bath. June 2024, Athens
Public Speaking Tips to Help You Be A Strong Leader.pdfPinta Partners
In the realm of effective leadership, a multitude of skills come into play, but one stands out as both crucial and challenging: public speaking.
Public speaking transcends mere eloquence; it serves as the medium through which leaders articulate their vision, inspire action, and foster engagement. For leaders, refining public speaking skills is essential, elevating their ability to influence, persuade, and lead with resolute conviction. Here are some key tips to consider: https://joellandau.com/the-public-speaking-tips-to-help-you-be-a-stronger-leader/
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Employment PracticesRegulation and Multinational CorporationsRoopaTemkar
Employment PracticesRegulation and Multinational Corporations
Strategic decision making within MNCs constrained or determined by the implementation of laws and codes of practice and by pressure from political actors. Managers in MNCs have to make choices that are shaped by gvmt. intervention and the local economy.
Comparing Stability and Sustainability in Agile SystemsRob Healy
Copy of the presentation given at XP2024 based on a research paper.
In this paper we explain wat overwork is and the physical and mental health risks associated with it.
We then explore how overwork relates to system stability and inventory.
Finally there is a call to action for Team Leads / Scrum Masters / Managers to measure and monitor excess work for individual teams.
Integrity in leadership builds trust by ensuring consistency between words an...Ram V Chary
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Org Design is a core skill to be mastered by management for any successful org change.
Org Topologies™ in its essence is a two-dimensional space with 16 distinctive boxes - atomic organizational archetypes. That space helps you to plot your current operating model by positioning individuals, departments, and teams on the map. This will give a profound understanding of the performance of your value-creating organizational ecosystem.
2. Classification of materials
◦ Classifying materials means identifying each material according to its subject, so that materials
on similar subjects can be grouped together on the shelves
3. Objective of classification of materials
Objective of classification of materials
◦ To save time and cost
◦ To plan and control material
◦ To satisfy the demand during the period of replenishment
◦ To carry reserve stock to avoid the stock out
◦ To stabilize functions in consumption
◦ To provide our customers reasonable level of service.
4. Basis of classification of materials
◦ Stages of conversion process
◦ Based on Nature of materials
◦ Quality and Utility
5. Stages of conversion process
Stores
Direct
Material
Indirect
Material
WIP
Finished
Goods
Purchased
parts
Raw
Material
Supplies
Flow chart of Material classification based on conversion
process
6. Stages of conversion process of
materials
◦ Direct Material : Direct material are those which are directly used in the production of final
product ( output) Or it becomes part of the output
◦ 1) Raw material : Basic output that are converted into Finished product through the
manufacturing process.
◦ 2) Work in progress: Semi manufactured product Need some more workS before they become
Finished product
◦ 3) Finished goods : Completely manufactured product ready for sale
◦ 4) Purchased parts: This includes those products which are accessories to the main products
produced for the purpose of sale. Examples of stores and spares are bolts, nuts, clamps, screws,
etc. These spare parts are generally bought from outside.
7. Contd.
◦ Indirect Materials : Indirectly used in the production of final product (output) or that gives
support in continuation of production(example - oil, grease, chemicals, disposable tools etc are
indirect material that are used in machine for running of it smoothly)
8. Classification based on nature of
material
◦ Raw materials ( Direct and Indirect)
◦ Consumables
◦ Chemicals
◦ Inflammable item
◦ Furniture
◦ Perishable
◦ Packaging
◦ Empties
◦ Supplies
9. Classification based for quality and
usability of material
◦ Serviceable and Unserviceable : Serviceable means Parts or Components which are used or are
in working condition and The unserviceable equipments and machines are those inventories
which outlived their life. No amount of repairs, renewals or replacements can bring them back to
their usable life.
◦ Semi-finished and Finished
◦ Dead stock : Dead stock are the merchandise that was never sold to or used by consumers
before being removed from sale, usually because it was outdated.
◦ Obsolete material : Obsolete should be defined as materials, equipments or parts which are no
longer usable in the service for which they are purchased and which cannot be utilised safely or
economically for any other purpose. Reason for Obsolete inventory is When you buy too much ,
when technology changes And when you don’t review regular your inventory.
10. Inventories
1. Production inventories : Production inventory refers to the level of materials and supplies on
hand for use in manufacturing production.
2. MRO inventories: Maintenance, Repair and Operating inventories include parts , supplies, and
materials used in or consumed by routine maintenance and repair of operating equipment, or
in support of operations.
3. In-Process inventories : These are goods in the process of manufacturing and only partially
completed. They are usually measured for accounting purposes in between significant
conversion phases.
4. Goods in Transit inventories :Goods in transit refers to merchandise and other types
of inventory that have left the shipping dock of the seller, but not yet reached the receiving
dock of the buyer.