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    Material Management: By: Shobhit Kumar

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    PRIYANK
    This document discusses material management. It covers the objectives, functions, and scope of material management. Material management aims to procure materials at low prices, maintain high inventory turnover, ensure continuity of supply, and develop favorable supplier relations. Its functions include minimizing production costs, controlling materials safely, and procuring quality materials at low cost. The scope of material management spans planning, production control, purchasing, inventory control, receiving, distribution, and material handling. Factors like purchase volume and proximity to suppliers can provide economies in material management.

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    Material Management: By: Shobhit Kumar

    Uploaded by

    PRIYANK
    14 views7 pages
    This document discusses material management. It covers the objectives, functions, and scope of material management. Material management aims to procure materials at low prices, maintain high inventory turnover, ensure continuity of supply, and develop favorable supplier relations. Its functions include minimizing production costs, controlling materials safely, and procuring quality materials at low cost. The scope of material management spans planning, production control, purchasing, inventory control, receiving, distribution, and material handling. Factors like purchase volume and proximity to suppliers can provide economies in material management.

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    This document discusses material management. It covers the objectives, functions, and scope of material management. Material management aims to procure materials at low prices, maintain high inventory turnover, ensure continuity of supply, and develop favorable supplier relations. Its functions include minimizing production costs, controlling materials safely, and procuring quality materials at low cost. The scope of material management spans planning, production control, purchasing, inventory control, receiving, distribution, and material handling. Factors like purchase volume and proximity to suppliers can provide economies in material management.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    14 views7 pages

    Material Management: By: Shobhit Kumar

    Uploaded by

    PRIYANK
    This document discusses material management. It covers the objectives, functions, and scope of material management. Material management aims to procure materials at low prices, maintain high inventory turnover, ensure continuity of supply, and develop favorable supplier relations. Its functions include minimizing production costs, controlling materials safely, and procuring quality materials at low cost. The scope of material management spans planning, production control, purchasing, inventory control, receiving, distribution, and material handling. Factors like purchase volume and proximity to suppliers can provide economies in material management.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 7

    MATERIAL MANAGEMENT

    BY: SHOBHIT KUMAR


    INTRODUCTION
     Material management is the basic function of the
    business that adds value directly to the product.
     Material management is concerned with the activities
    such as purchasing, production and inventory
    control, material handling, packaging, and
    distribution.
     It is also described as the process by which an
    organization is supplied with goods and services that
    its needs to achieve its objectives
     It is defined as the management of the flow of materials
    into an organization to the point where the materials
    are converted into the firm’s product.
    OBJECTIVES OF MATERIAL
    MANAGEMENT
    PRIMARY OBJECTIVES
     Low Prices ( In terms of purchasing the raw material)
     High inventory turnover ( To check out the stock according to the
    production and customer order)
     Low cost acquisition and possession ( If material is handled and
    stored efficiently their real cost is lower)
     Continuity of supply ( Proper planning of raw material so that
    material can reach at the time)
     Consistency of Quality ( Desired quality of material when
    required and at low cost)
     Favorable supplier’s relations ( Develop cordial relations with
    suppliers for smooth flow of material)
     Development of personnel ( Train the persons that are in the field
    of material management in order to increase the operational
    efficiency)
    OBJECTIVES OF MATERIAL
    MANAGEMENT
    SECONDARY OBJECTIVES
    • Reciprocal relationship (Mutual understanding and effective
    relationship should be there.)
    • New materials and product ( Engineers and Manufacturing
    managers are responsible for this)
    • Standardization ( Standard material should be used and with
    proper standards as set)
    • Product improvement ( This is the objective of the engineering
    department to make development in the product design)
    • Interdepartmental harmony ( Feeling of belongings and prevent
    disputes, duties are clearly defined)
    • Forecasts. ( Keeping efficient recording and prompt reporting
    of the material)
    FUNCTIONS OF MATERIAL
    MANAGEMENT
     To minimize the cost of production
     Reviving and controlling the material safely and in good
    conditions.
     To procure and provide materials of desired quality when
    required at the lowest possible overall cost of the concern.
     Issue of the material
     To trace out the new supply
     Store and stock control
     Value engineering
     Receiving and issuing of material
     Transportation and handling of material

     
    SCOPE OF MATERIAL
    MANAGEMENT
     Planning function ( Long term material requirement)
     Production control ( Material required and parts, issue of work orders)
     Purchasing ( Quality & in time, selection of suppliers, delivery)
     Inventory and store control ( Availability of raw material, keeping records of
    stock)
     Receiving and stores ( Receiving and inspect time to time)
     Shipping and Physical distribution ( Distribution of finished goods in
    time, packing of the product, dispatching the finished goods by Rail,
    Roads, Ship and by Air and their receipt)
     Material handling ( Proper handling of material an the raw and finished
    goods are in a good condition)
     Traffic ( It is concerned with the incoming and the out going of the
    material, how the finished goods can reached the customers either by
    rail, road, by air or by delivery vans)
    FACTORS PROVIDING THE ECONOMY IN
    THE MATERIAL MANAGEMENT
     Volume of purchases
     Nearness to source of materials
     Design and engineering of the product
     Inspection
     Make or Buy decision
     Disposal of scrap
     

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