ALL ABOUT MATERIAL MANAGEMENT

1. • ELEMENTS OF MATERIALS
MANAGEMENT • FIVE M’s IN MATERIAL
MANAGEMENT

2. Explain and
elaborate various
elements of
management.
on
the
material
s

3. To explore the Five M's of
material management.

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.

6. The right
material At the
right time In the
right amount
And of the quality that is:

7. At the right price
From the right
sources

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

12. output material that is not yet introduced in the
public.

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.

18. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

19. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

20. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

21. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

22. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

23. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

24. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

25. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

26. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

27. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

28. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

29. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

30. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

31. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

32. IDENTIFICATION OF ITEMS
ESTIMATING DEMAND
PURCHASE AND
PROCUREMENT
INSPECTION AND QUALITY
CONTROL STORAGE
INVENTORY CONTROL

33. MAINTENANCE, REPAIR AND
CONDEMNATION INFORMATION SYSTEM

39. MEN
MACHINES
METHODS
MONEY

40. MATERIAL
S

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

42. resources mobilize, allocate
and utilize the physical and
financial resources of an
organization.

43. materials represent the
physical raw materials
and intermediate products
(semi-finished goods )
which are converted
and/or assembled into
finished products with

44. the help of certain
processes and technology.

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

46. ingredient in the efficient
management of
organizations.

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

48. and contributes to
effective management.

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

50. or enterprise
requires money in
the form of fixed capital
and working capital.