Mba 2nd Sem Mlm Notes (Materials Management)

Materials Management INTRODUCTION Putting in the simplest terms materials management is about touching the materials within an organization. What do materials mean? Materials can basically be defined as those objects or things that argon to be go in order to produce goods. Material is one of the 5Ms that a manager has at his command, the other being Men, Machine, Methods and Money. Materials could be in the form of lancinating materials, paperwork, messages or information etcetera So materials can be both tangible and intangible. You hear the newspaper boy delivering the newspaper to your doorstep everyday or the milkman delivering the milk packets to you. These are tangible materials. There is also some(a) material moved when you watch a movie on your television or when you receive a phone call. These are the intangible materials that are moved. So materials management is an important contribution of every business. The better is the materials management in a attach to the better is the health of that company. MATERIALS MANAGEMENT AND ITS FUNCTIONS Materials can be stupefy in three categories. First category is purchased materials like the raw materials, components, spare parts and items that are used and do not appear in the end product.

The second category is of in-process materials or the materials in the semi-finished stages and lastly the finished goods that are ready for customers. integrity has to manage these materials. The aim of this management is to obtain the materials at the borderline possible price while advanceing quality also and to maintain the inventories in such a way that minimum follow is incurred while maintaining adequate materials for the production process. Let us jut out what materials management actually means. It is defined as a subroutine that integrates purchasing, storage, inventory control, materials handling and standardization etc in an organization to fulfil its objective of reducing the costs. Every organization wishes to maximize its wage by maximizing its... If you want to get a practiced essay, order it on our website: Ordercustompaper.com

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