MATERIAL MANAGEMENT MODULE

Session No 01

Topic Concept of Material as Resource

Learning Deliverables Appreciation of material as one of the Ms Cost concepts such as Ordering cost, Inventory carrying costs Linkage of Materials with other functions such as Sales, Production, Finance Purchasing Procedures, Purchase Records Vendor Development Purchase Cost data Purchase budget Materials Budget Effective space utilization Types of equipment and Selection criteria Analytical techniques such as ABC, HML, VED. Economic order Quantity Cost reduction techniques such as Value Engineering Approaches and strategies involved in negotiation Use of techniques such as LIFO, FIFO, Weighted Average, inventory performance ratios , Material Audit.

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Concept of Integrated Material Management Purchase Documentation Purchase Budgets Stores Space Management Material handling Equipment Inventory Control Management concepts in Purchase Value analysis Negotiation Material Management Information Systems