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ON
“MATERIAL MANAGEMENT”
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IDENTIFICATION DATA
TIME : 45 MIN
LANGUAGE : ENGLISH
DATE :
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GENERAL OBJECTIVE: - At the end of the seminar, the student will gain in-depth
knowledge regarding Material management and develop positive attitudes towards it.
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MATERIAL MANAGEMENT
MATERIAL
“Material may be defined as equipment, apparatus and supplies procured, stocked and
utilized by an organization.”
MANAGEMENT
INTRODUCTION
Material management is an approach for planning, organizing and controlling all those
activities principally concerned with the flow of materials into an organization. The scope of
material management varies greatly from company to company and may include material
planning and control, production planning, purchasing, inventory control, in-plant materials
movement, and waste management. Material management e.g. is part of business logistics
and refers to overseeing the location and movement of physical items or products. There are
three main elements associated with such management, i.e. spare parts, quality control and
inventory management. Material management is important in large manufacturing and
distribution environments, such as warehouses, where there are multiple parts, locations and
significant money invested in these items.
DEFINITIONS
“Material management could be regarded as the function responsible for the coordination of
planning, sourcing, purchasing, moving, storing and controlling materials in an optimum
manner so to provide a predecided consumer at a minimum cost”.
“Material management is an initial concept having its definite organization to plan and
control all types of materials, its supply and its flow from raw stage to finished stage, so as to
deliver the product to customer as per requirements in time”.
According to I. Clement
According to Judith A
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According to Housely
“Material management defined as the management and control of goods, services and
equipment from acquisition to disposition”.
OBJECTIVES
1. Right quality: - Materials of right quality are to be purchased for the job, so that quality of
the products can be maintained.
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2. Right time: - Materials should be purchased in right time, so that production will not be
held up due to want of materials.
3. Right quantity: - Materials should be purchased in right quantity, so that wastages and
losses due to overstocking can be avoided.
4. Right source: - The right source of purchase will help to select the supplier who can offer
to supply materials on favorable terms and conditions at an economical price, and also in
right time and quantity.
5. Right price: - Materials should be purchased at right price by investing quotations from
different suppliers and making comparison. Principle of right price will help to keep the
material cost under control.
6. Right place: - This principle requires that the required materials should be received from
the supplier at a place, which is near to the store or the production department requiring those
materials or at some other convenient place. This will help to avoid the unnecessary
consumption of time and money in carrying the materials from the place of supply to the
place of requirement.
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2. As materials management is handled by single authority, it can result in better
coordination, as it becomes the central point for any material-related problems.
3. Material management department makes sure that better quality material is supplied
timely to the requesting departments. This can result in better performance of the
organization.
4. A material management system is typically controlled through an information system;
thus, can help in taking decisions related to material in the organization.
5. One indirect advantage of material management is that good quality material develops
the ethical and moral standard in an organization. However; please note there is no
study on this issue.
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CONCLUSION
Material management is concerned with providing the drugs, supplies and equipments needed
by health personnel to deliver health services. The right drugs, supplies and equipments must
be at right place, at the right time and in the right quantity in order that health personnel
deliver health services.
SUMMARY
Today in the seminar we have discuses about the, define material management ,enlist the
material management, describe the principles of material management ,enlist the purpose of
material management ,explain the needs of material management ,explain the process of
material management ,enlist the advantages of material management ,explain the
procurement, explain the purchasing explain the inventory.
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BIBLIOGRAPHY
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