MATERIALS

Definition

• It is concerned with planning, organizing and controlling the flow of materials from their initial purchase through internal operations to the service point through distribution.

OR

• Material management is a scientific technique, concerned with Planning, Organizing &Control of flow of materials, from their initial purchase to destination.

AIM OF MATERIAL MANAGEMENT

To get

• The Right quality

• Right quantity of supplies

• At the Right time

• At the Right place

• For the Right cost

PURPOSE OF MATERIAL MANAGEMENT

• To gain economy in purchasing

• To satisfy the  demand during period of replenishment

• To carry reserve stock to avoid stock out

• To stabilize fluctuations in consumption

• To provide reasonable level of client services