This document discusses various topics related to material management including inventory management, ABC analysis, economic order quantity, purchasing, and modern techniques. It defines material management as planning, purchasing, receiving, storing, and providing materials. It describes inventory types, objectives of inventory management, ABC analysis steps and advantages, economic order quantity formula and advantages, purchasing steps, MRP functions and inputs/outputs, and ERP modules and implementation process.
Material Resource Planning (MRP)
Objectives of MRP
Fundamental concepts of MRP
Functions of MRP
Inputs to MRP
Master production schedule(MPS)
Bill of Materials (BOM)
Inventory Status File
MRP outputs
Learning Curve
Negotiating
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
Final purchasing and materials management pptiACT Global
Purchasing function , in a business environment , is one of the most critical functions as it provides the input for the organization to convert into output.
Material Resource Planning (MRP)
Objectives of MRP
Fundamental concepts of MRP
Functions of MRP
Inputs to MRP
Master production schedule(MPS)
Bill of Materials (BOM)
Inventory Status File
MRP outputs
Learning Curve
Negotiating
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
Final purchasing and materials management pptiACT Global
Purchasing function , in a business environment , is one of the most critical functions as it provides the input for the organization to convert into output.
Material Management- Stocks to be verified in the stores is important duty of the store manager. Some methods help them to keep a check & avoid any discrepancies.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
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
Management information System and its typesAbdul Rehman
Management information System
Difference between MIS and IS
Importance of MIS
Characteristics of MIS
Types of MIS: Expert System, Decision support system, Executive Information System
Material Management- Stocks to be verified in the stores is important duty of the store manager. Some methods help them to keep a check & avoid any discrepancies.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
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
Management information System and its typesAbdul Rehman
Management information System
Difference between MIS and IS
Importance of MIS
Characteristics of MIS
Types of MIS: Expert System, Decision support system, Executive Information System
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.
• Material Requirement Planning and Capacity Requirement
• Thought put Time
• Order Cycle Time
• Customer Satisfaction
• Quality
• Specifying Materials
• Maintenance Repair and Operating (MRO) Supplies
• Tooling
A brief summary of Inventory Management techniques. It includes the following methods of Inventory control: Economic Order Quantity, VED classification, Just in Time, ABC analysis, FSN analysis, VMI analysis, FIFO analysis. I have further discussed by focusing on the automobile industry.
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The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
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The Roman Empire A Historical Colossus.pdfkaushalkr1407
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2. Topics
> Material Management
> Inventory Management
> ABC Analysis
> Economic order qunatity(EOQ)
> Purchacing
> Modern techniques of material management
(MRP, ERP)
Sagar Vetal | E & TC Dept. | GGSP
3. Material Management is the process of planning,
purchasing, receiving, storing and providing the
appropriate material with right quality, right
quantity, at right place in the right time
Material Management
4. • To maintain steady flow of material for uninterrupted
production
• To ensure consistancy of quality and quantity of material
• To maintain record of purchase, storage, and supply
materials
• To preserve materials material in stock in order avoid
pilferage, deterioration, and theft
• To achieve economy in cost of material by using different
techniques like JIT, Kaizen, ABC analysis, etc.
• To reduce operating cost by eliminating wastage
Objectives of Material
Management
Sagar Vetal | E & TC Dept. | GGSP
5. Functions of Material
Management
• Material planning: Estimating demand and quality required and
preparing material budget
• Market research for purchase
• Purchasing: Selecting right method of purchasing, choosing right
source, Placing order, follow up
• Depeloving reliable suppliers
• Procurement: It refers to quality check, inspection and testing of
parchased material
• Store management: conservation of materials in store, efficient
handling, proper stocking and maintaining store record
• Inventory control: Timely availability of materials at min. cost
• Value analysis of costly material
• Packaging
• Waste management
Sagar Vetal | E & TC Dept. | GGSP
6. Inventory
Inventory is a detailed list of all kinds of goods
handled by business.
Sagar Vetal | E & TC Dept. | GGSP
7. Different types of
Inventory
1. Raw Material:
- It includes raw material, semi-finished component,
standard sub-assemblies puchased from suplliers.
2. Work in Progress:
- All materials at various machines on shop floor.
- It include products at various stages of production, semi-
finished products
3. Finished goods
4. Indirect Material:
- Tools, spare parts
- Consumables like lubricants, stationary etc.
Sagar Vetal | E & TC Dept. | GGSP
8. Inventory Management
Inventory management is the process of ensuring
that a company always has the products it needs
and that it keeps costs as low as possible.
Sagar Vetal | E & TC Dept. | GGSP
9. Objectives of Inventory
Management
1. Operational Objectives
i. Service to customer: Prompt supply to customer
ii. Continuity of productive operations
iii. To avoid excess inv enventory
2. Finacial Objectives
i. Effective use of capital
ii. Economy in buying
3. Property protection objectives
i. To keep inventory safe against wastage, damage and
theft
ii. To minimize losses due to deterioration and
obsolescence(uselessness)
Sagar Vetal | E & TC Dept. | GGSP
12. ABC Analysis
In ABC analysis all purchased items are classified in different
categories.
Classof
Item
%of
totalcost
%ofTotal
numberof
items
Purchase
Rate
Fund
Allocation
Importance
A 80 20 Frequent Highest Highest
B 15 30 Intermediate Medium Medium
C 5 50 Infrequent Lowest Lowest
Sagar Vetal | E & TC Dept. | GGSP
13. Steps of ABC Analysis
1. Prepare the list of all consumed
items
2. Sort the list as per their value
3. Saperate and count the number of
coslty, medium and low valued items
4. Find out % of high, medium and low
valued items
5. Plot the graph, % of items against
percent of annual consumption cost
Sagar Vetal | E & TC Dept. | GGSP
14. Advantages of ABC
Analysis
▧ Costly , medium and lowest priced items can be
easily identified
▧ Helps managers to have selective control and
focus attention only on important items
▧ Provides a tool to decide frequency of purchasing
▧ Provides a tool to decide volume of pruchasing
▧ Results in reduction of inventory cost
Sagar Vetal | E & TC Dept. | GGSP
15. Disadvantages of ABC
Analysis
▧ Costly items gets more importance and lowest cost items
gets less importance, it may be item may not be costly
but it may be critical for production
▧ Seasonal variations of have no consideration in the
analysis
▧ Periodic reviews and reports becomes difficult because of
the item cost variation
Sagar Vetal | E & TC Dept. | GGSP
16. Economic Order Quantity
(EOQ)
Economic order quantity (EOQ) is the order
quantity of inventory that minimizes the total cost of
inventory management.
Sagar Vetal | E & TC Dept. | GGSP
20. Advantages of EOQ
▧ Unnecessary storage of the raw material is
avoided
▧ EOQ avoids running out of stock
▧ Ensures pre-decided delivery dates
▧ EOQ avoids effects like proce fluctuations and
shortage of material in the market
▧ Material shortage and excess material situation
can be avoided
Sagar Vetal | E & TC Dept. | GGSP
22. Purchasing is the procurement of material,
supplies, machine tools and services
required for equipment maintenance and
operation of a manufacturing plant.
Purchasing
Sagar Vetal | E & TC Dept. | GGSP
24. Direct on Line(DOL)
Product from suppliers get directly
unloaded directly at the production shop
and the subassemblies go into the final
assembly. This is known as “Just in
Time” technique. Such suppliers said to
have “Direct on line (DOI) status”
Sagar Vetal | E & TC Dept. | GGSP
25. Modern Techniques of Material
Management
MRP
ERP
Sagar Vetal | E & TC Dept. | GGSP
26. Material Resource Planning
(MRP)
The material resource planning(MRP) system
provides the information about when to order and
how much to order.
Types of Orders
1. Dependent order (1 bike 2 tires)
2. Independent order (tools, spares of machinery, etc.)
• Forecasting needed
Sagar Vetal | E & TC Dept. | GGSP
27. Functions of MRP:
• Forecast of material requirement
• Avoid extreme situations
• Reducing waste
• Economy in buying
• Deciding when to buy
• Floor control and scheduling
Sagar Vetal | E & TC Dept. | GGSP
28. Inputs of MRP:
• Master Production
schedule
• Bill of the material
• Inventory Record
Output of MRP:
• Reports
• Purchase order
• How much to buy
• When to buy
Sagar Vetal | E & TC Dept. | GGSP
30. Enterprise Resource Planning (ERP)
To have standardization, simplicity and
uniformity of databases, companies go for
integrated database systems, Such systems
are known as ERP software systems.
Sagar Vetal | E & TC Dept. | GGSP
32. Implementation of ERP
Selection of
ERP service
provider
Planning and
requirements
analysis
Design Detail design
Testing and
implementati
on
Maintenance
Sagar Vetal | E & TC Dept. | GGSP