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Material Management

Material Management

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Published by wintoday01
MODULE 6 Materials Management

5 M’s important to production process are Men, Machine, Money , Methods and Material . Early days from Men to Methods it was varying, now-adays materials have more important. There are several reasons behind it, 1)Amount spent on materials is higher than other inputs 2)Materials offer considerable scope for reducing cost and improving profit 3)Improving return on investments depends on the effective utilisation of materials.

4)Materials “add value” to a product.
MODULE 6 Materials Management

5 M’s important to production process are Men, Machine, Money , Methods and Material . Early days from Men to Methods it was varying, now-adays materials have more important. There are several reasons behind it, 1)Amount spent on materials is higher than other inputs 2)Materials offer considerable scope for reducing cost and improving profit 3)Improving return on investments depends on the effective utilisation of materials.

4)Materials “add value” to a product.

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Published by: wintoday01 on Feb 09, 2010
Copyright:Attribution Non-commercial

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03/11/2013

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MODULE 6Materials Management
 
5 M’s important to production process are Men, Machine,Money , Methods and Material .Early days from Men to Methods it was varying, now-a-days materials have more important.There are several reasons behind it,1)Amount spent on materials is higher than other inputs2)Materials offer considerable scope for reducing cost andimproving profit3)Improving return on investments depends on theeffective utilisation of materials.
 
4)Materials “add value” to a product.5)Materials contribute to the quality of the end product6)Material management assume responsibility for whatever happen in purchasing , storing, inventory or any other area connected with materials.7)Need for preservation of scarce resource for posterity.8)Increasing demand for ensuring environmental safety.9)The efficiency of any organization depends upon theavailability of right materials ,in right quality, at righttime and at right price.10)Relationship between man and materials is indivisible

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