The document discusses the scope and functions of materials management. Materials management aims to minimize material costs, which typically account for 60-70% of total product costs. It exercises control over materials planning, purchasing, inventory control, receiving/inspection, value analysis, materials handling, and disposal of scrap. The key functions include planning material requirements, purchasing the right materials at the lowest cost, storing and controlling inventory, receiving and inspecting incoming materials, reducing material varieties to cut costs, handling the transport of materials, and periodically disposing of surplus materials. An integrated materials management department allows for better coordination, accountability, performance, and adaptability to electronic data processing systems compared to separate functional departments.
NURSING MANAGEMENT AND EDUCATION
INVENTORY CONTROL AND PROCUREMENT OF HOSPITAL SUPPLIES, THEIR MAINTENANCE AND KEEPING THE STOCK UP TO DATE IS ONE OF THE BASIC DUTIES OF A NURSE. KNOWING ABOUT THE PRINCIPLES AND TECHNIQUES HELPS IN EFFECTIVE MANAGEMENT OF HOSPITAL SUPPLIES AND EQUIPMENT IN THE WARD.
material management ppt describe the what is material management, aim of material management, objective of material management and function of material management
NURSING MANAGEMENT AND EDUCATION
INVENTORY CONTROL AND PROCUREMENT OF HOSPITAL SUPPLIES, THEIR MAINTENANCE AND KEEPING THE STOCK UP TO DATE IS ONE OF THE BASIC DUTIES OF A NURSE. KNOWING ABOUT THE PRINCIPLES AND TECHNIQUES HELPS IN EFFECTIVE MANAGEMENT OF HOSPITAL SUPPLIES AND EQUIPMENT IN THE WARD.
material management ppt describe the what is material management, aim of material management, objective of material management and function of material management
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
ABC analysis (Inventory) Inventory optimization in supply chain, ABC analysis is an inventory categorization method which consists in dividing items into three categories, A, B and C
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.
Part of the induction course for students undertaking diploma and degree in environmental lab science, public health, Analytical Chemistry, Applied Biology, Medical Lab Sciences and Food Technology.
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.
Integrated Material Management (IMM) refers to the coordinated and comprehensive management of materials throughout their lifecycle within an organization. This encompasses the entire supply chain, from procurement and production to distribution and disposal. The goal of integrated material management is to optimize the use of resources, reduce costs, and improve overall operational efficiency. mplementing integrated material management practices can lead to cost savings, improved operational efficiency, and enhanced sustainability. It requires a holistic approach that considers the entire material lifecycle and encourages collaboration among different functions within an organization and its external partners.Procurement and Sourcing:
Strategic Sourcing: Identify and establish relationships with suppliers based on factors such as cost, quality, reliability, and sustainability.
Supplier Relationship Management (SRM): Develop strong partnerships with key suppliers to ensure a steady supply of materials and promote collaboration. Inventory Management:
Demand Forecasting: Use historical data and market trends to predict future demand, enabling better inventory planning.
Safety Stock Management: Maintain a buffer stock to prevent stockouts during unexpected demand spikes or supply chain disruptions.
Just-in-Time (JIT): Implement JIT principles to minimize excess inventory and reduce carrying costs.
Materials Handling and Transportation:
Efficient Logistics: Optimize transportation routes and modes to minimize costs and reduce lead times.
Warehouse Management: Implement effective warehouse practices to streamline material handling, storage, and retrieval.
Production Planning and Control:
Master Production Scheduling (MPS): Develop a detailed production plan that aligns with demand forecasts and resource availability.
Capacity Planning: Ensure that production capacities match demand requirements to avoid bottlenecks or excess capacity.
Quality Management: uality Control: Implement measures to ensure the quality of incoming materials and finished products.
Continuous Improvement: Use feedback mechanisms to identify and rectify quality issues in real-time.
Lifecycle Assessment and Sustainable Practices:
Environmental Impact Assessment: Consider the environmental impact of materials throughout their lifecycle, from extraction to disposal.
Sustainable Sourcing: Prioritize suppliers with environmentally friendly practices and materials.
Technology Integration:
Enterprise Resource Planning (ERP): Utilize ERP systems for real-time data integration across various departments, facilitating better decision-making.
Barcoding and RFID: Implement technologies for accurate tracking and traceability of materials throughout the supply chain.
Disposal and Recycling:
Waste Management: Develop responsible strategies for the disposal of unused or end-of-life materials.
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
ABC analysis (Inventory) Inventory optimization in supply chain, ABC analysis is an inventory categorization method which consists in dividing items into three categories, A, B and C
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.
Part of the induction course for students undertaking diploma and degree in environmental lab science, public health, Analytical Chemistry, Applied Biology, Medical Lab Sciences and Food Technology.
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.
Integrated Material Management (IMM) refers to the coordinated and comprehensive management of materials throughout their lifecycle within an organization. This encompasses the entire supply chain, from procurement and production to distribution and disposal. The goal of integrated material management is to optimize the use of resources, reduce costs, and improve overall operational efficiency. mplementing integrated material management practices can lead to cost savings, improved operational efficiency, and enhanced sustainability. It requires a holistic approach that considers the entire material lifecycle and encourages collaboration among different functions within an organization and its external partners.Procurement and Sourcing:
Strategic Sourcing: Identify and establish relationships with suppliers based on factors such as cost, quality, reliability, and sustainability.
Supplier Relationship Management (SRM): Develop strong partnerships with key suppliers to ensure a steady supply of materials and promote collaboration. Inventory Management:
Demand Forecasting: Use historical data and market trends to predict future demand, enabling better inventory planning.
Safety Stock Management: Maintain a buffer stock to prevent stockouts during unexpected demand spikes or supply chain disruptions.
Just-in-Time (JIT): Implement JIT principles to minimize excess inventory and reduce carrying costs.
Materials Handling and Transportation:
Efficient Logistics: Optimize transportation routes and modes to minimize costs and reduce lead times.
Warehouse Management: Implement effective warehouse practices to streamline material handling, storage, and retrieval.
Production Planning and Control:
Master Production Scheduling (MPS): Develop a detailed production plan that aligns with demand forecasts and resource availability.
Capacity Planning: Ensure that production capacities match demand requirements to avoid bottlenecks or excess capacity.
Quality Management: uality Control: Implement measures to ensure the quality of incoming materials and finished products.
Continuous Improvement: Use feedback mechanisms to identify and rectify quality issues in real-time.
Lifecycle Assessment and Sustainable Practices:
Environmental Impact Assessment: Consider the environmental impact of materials throughout their lifecycle, from extraction to disposal.
Sustainable Sourcing: Prioritize suppliers with environmentally friendly practices and materials.
Technology Integration:
Enterprise Resource Planning (ERP): Utilize ERP systems for real-time data integration across various departments, facilitating better decision-making.
Barcoding and RFID: Implement technologies for accurate tracking and traceability of materials throughout the supply chain.
Disposal and Recycling:
Waste Management: Develop responsible strategies for the disposal of unused or end-of-life materials.
Study on Inventory Management at Reid & Taylor (India) LtdProjects Kart
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.
Similar to Scope and functons of materals management (20)
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
1. MATERIALS MANAGEMENT
CHAPTER – I
SCOPE AND FUNCTIONS OF MATERIALS
MANAGEMENT
INTRODUCTION :
Materials management is one of the important activities of business. There is no general
agreement about precisely what activities are embraced by materials management. Some
managers would associate materials management with their material or production
control departments, which schedule materials requirements and may also control
inventories of both raw materials and in-process materials. Others would associate it
with the activities of their purchasing departments in dealing with outside suppliers.
If we analyze the total cost of any product nearly 60 to 70% is because of materials.
Only the rest is for labour, overhead and profit. So any reduction in the material cost,
even by a very less percentage will give rise to a greater profit. Moreover the materials
management being a staff function, the introduction of new techniques to reduce the cost
of the product is much easier than in any other field.
Hence, the rate of return on capital employed is of prime concern and is given by the
ratio:
Rate of Return (ROR)
Profit
= -------------Sales
=
X
=
Profit
--------------------------------Capital employed
Sales
-------------------------------------------------Fixed Assets + Current Assets
Profitability X Capital turnover ratio
So as to increase the rate of return on investment, one way is to increase the capital
turnover ratio. For this if capital employed is reduced, naturally capital turnover ratio
will go high. Fixed assets constitute capital already sunk and only scope for improving
the Return on Investment (ROI) lies in the efficient management materials which
constitute the bulk of current assets.
1
2. As materials constitute the major cost component, large amount of capital is locked up in
materials with the associated burden interest which further increases the cost of the
product.
So, because of the greatest percentage of cost associated with materials and also any
possible reduction in material cost will result in the increase of profit, the industries are
now thinking of introducing the concept of scientific materials management.
If we analyze the above graph we find that previously the break even point was at A.
Because of reducing the cost the break even point shifted to B. For the given output ‘C’
the profit margin has increased by X2, from X1 to (X1 – X2) amount.
SCOPE OF MATERIALS MANAGEMENT :
Materials Management strives to ensure that the material cost component of the total
product cost be the least. In order to achieve this, the control is exercised in the
following fields.
1.
2.
3.
4.
5.
6.
7.
8.
Materials Planning.
Purchasing.
Store Keeping.
Inventory Control.
Receiving, Inspection and Despatching.
Value Analysis, Standardization and Variety Reduction.
Materials Handling & Traffic.
Disposal of Scrap and Surplus, Material Preservation.
The function of material planning department is to plan for the future procurement of all
the required materials as per the production schedule. At the time of material planning,
the budget allocated for the materials will also be critically reviewed, for better control.
After material planning, purchasing is to be done. Purchasing department buys material
based on the purchase requisitions from user departments and stores departments and
annual production plan. There are four basic purchasing activities.
a)
b)
c)
d)
Selecting suppliers, negotiating and issuing purchase orders.
Expediting delivery from suppliers.
Acting as liaison between suppliers and other company departments.
Looking for new products, materials, and suppliers that can contribute to
company objectiveness.
At the time of purchase, right quantity and quality of materials must be purchased at
right time, at the lowest possible cost and select the efficient purchasing system, to derive
maximum benefit. Purchasing is done based on ‘make or buy’ decisions and also using
PERT / CPM effectively.
2
3. When the items are purchased, proper storage facilities must be provided so that, the
wastage is reduced to a minimum. Sometimes to protect the quality, greater care must be
taken during storage.
The duties of the inventory control department is to decide about the types of ordering
system, fixing the safety stock limits, fixing up the reorder level & maximum / minimum
stock level.
The responsibility of Receiving, inspection and despatching department is to receive the
materials when delivered by the suppliers. After receiving it, the quantity and quality
must be checked. Production parts and materials are checked against blueprints and
specifications. Non-production items are also reviewed. When once it is as per the
specifications given, the goods will be accepted.
The Value Analysis and Standardization offer greatest scope, in reducing the materials
cost. It also reduce the number of varieties and also helps in finding the substitute for
the materials at lesser cost.
Materials handling section is responsible for the transport of materials to various
departments. There are four basic traffic activities.
a)
b)
c)
d)
e)
Selecting common or charter carriers and routings for despatch /
shipments as required.
Tracing in-bound shipments of material in short supply as requested by
production control or purchasing. Assisting customers in tracing outbound shipments when asked.
Auditing invoices from carriers and filing claims for refunds of excess
charges or for damaged shipments when required.
Developing techniques to reduce transportation cost. This may involve
negotiation with competing shippers, special studies n selecting the most
advantageous plant location for new products, analysis of tariffs, and
negotiation of any number of special arrangements for handling certain
traffic.
The activity includes packaging of finished product, labeling and loading
of end products in the trades.
Finally the disposal of scrap and surplus must be done periodically to release the capital
locked in those items.
Η
NON-PRODUCTION STORES :
Techniques and procedures used to control non-production material (office supplies,
perishable tools, and maintenance, repair, and operating supplies) resemble those used for
production material, although they are usually less elaborate. Specifically, the stores
department.
3
4. a)
b)
c)
Maintains physical stocks of non-production items to be drawn on as
needed for operations or maintenance.
Manages inventories of non-production materials and prepares purchase
requisitions for needed material when stocks drop to the re-order point.
Keeps records and maintains controls to prevent duplication of
inventories, minimize losses from pilferage and spoilage and prevent
stock-outs.
NEED FOR INTEGRATED CONCEPT :
In an integrated set-up, the materials manager is responsible to exercise control and
coordinates with an overview that ensures proper balance of conflicting objectives of the
individual functions. Integration also helps in the rapid transfer of data, through
effective and informal communication channels. This is crucial as the materials
management function usually involves handling a vast amount of data. Therefore,
integrating the various functions ensures that message channels are shortened and the
various functions identify themselves to a common materials management department
which, in turn, results in greater co-ordination and better control.
ADVANTAGES IN INTEGRATED MATERIALS MANAGEMENT
CONCEPT :
Organizations which have gone in a big way for the integrated materials management
usually enjoy the following advantages :
Η
BETTER ACCOUNTABILITY :
Through centralization of authority and responsibility for all aspects of materials
function, a clear cut accountability is established.
This helps in evaluating the
performance of materials management in an objective manner.
Η
BETTER CO-ORDINATION :
When a central materials manager is responsible for all functions, the departments under
the materials manager create an identity which is common. This results in better support
and co-operation in the accomplishment of the materials function. The user departments
also find that they have to approach one department for discussing and solving their
materials problems. This creates an atmosphere of trust and generally better relations
between the user departments and the materials management department.
Η
BETTER PERFORMANCE :
As all the inter-related functions are integrated organizationally, greater speed and
accuracy results in improved communication. Need for materials is promptly brought to
4
5. notice by materials planning. Purchase department is fed with stock levels and order
status by stores and inventory control departments. All this calls for judicious decisions
leading to lower costs, better inventory in paper work.
Η
ADAPTABILITY TO EDP :
The centralization of the materials function has made it possible to design data processing
system. All information with regard to materials function is centralized under the
integrated materials management function. This has facilitated the collection and
analysis of data, leading to better decisions. Advanced and efficient electronic data
processing systems can be economically introduced under in integrated set-up.
Η
MISCELLANEOUS ADVANTAGE :
Under a Centralized Materials Manager, a team spirit is inculcated and this results in
better morale and co-operation. The opportunities and exposure available for the
individuals for growth and development are better in an integrated set-up.
5