Material management

material management ppt describe the what is material management, aim of material management, objective of material management and function of material management

1. Material management Prepared by:- Rahul Kundu Creative head and Founder Titundevelopers (titundevelopers.in)

2. Content Definition Aim of material management Objective of material management Function of material management Techniques of material planning Titundevelopers.in

3. Definition of Material management Material management organizing & coordinating all management function that are responsible for every aspect of material, storage & transformation. Material management is a scientific technique, concerned with planning, organizing & control of flow of materials form their initial purchase to destination. Titundevelopers.in

4. Aim of Material management To get The right quality Right quantity of supplies At the right time At the right place For the right costs Titundevelopers.in

5. Objective of Material management Buying, storage and movement of material are the 3 basic objectives of Material management. Optimum investment in inventory is the prime objective of material management. Main objective divided into 2 categories:- Primary objective Secondary objective Titundevelopers.in

6. Objective of Material management cont. Primary objectives:- Lower prices High inventory turnover Low cost acquisition & possession Continuity of supply Consistency of quality Favorable supplier relations Titundevelopers.in

7. Objective of Material management cont. Secondary objectives:- Reciprocal Relations New materials and products Economic make or buy Standardization Product improvement Inter departmental harmony Forecasts acquisitions Titundevelopers.in

8. Function of Material management Materials planning and control:- Based on the sales forecast and production plans. The materials planning and control is done. This involves estimating the individual requirements of parts, preparing materials budget, forecasting the levels of inventories, scheduling the orders and monitoring the performance in relation to production and sales. Titundevelopers.in

9. Function of Material management cont.. Purchasing :- This includes selection of source of supply finalization, placement of purchases order, follow-up, maintenance of smooth relations with suppliers, approval of payments to suppliers, evaluating and rating suppliers. Titundevelopers.in

10. Function of Material management cont.. Stores Management:- This involved physical control of materials preservation of stores, damage through timely disposal and efficient handling, maintenance of stores records, proper location and stocking. A store is also responsible for the physical verification of stocks and recording than with book figure. Titundevelopers.in

11. Function of Material management cont.. Inventory control:- 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 utilized. Titundevelopers.in

12. Function of Material management cont.. Transportation:- Material handling:- Value analysis:- Titundevelopers.in

13. Techniques of material planning Titundevelopers.in Weighted average Exponential smoothing Trend analysis correlation Product requirement Product mix Product structure Requirement of materials Delivery schedules for materials Bill of material Fig. material planning

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