Reasons for Material Management

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Reasons for Material Management
ritu, Member
What is the importance of material management?
 

 
Importance of Material Management
Pavan Kumar Rathore, Member
As you know, the fundamental objectives of the material management function are acquisition of material and services viz:-
- Of the right quality
- In the right quantity
- At the right time
- From the right source
- At the right time.
 

 
There are 5R Considered in SCM
ANUJ KUMAR SHRIVASTAVA, SIG Leader
@Pavan Kumar Rathore: Respected Sir, though we can't deny the fact that SCM and material management are related to each other. The objectives of SCM are considered to be managing 3 flows properly i.e. Money, Material and Information.
For details you can check my article on the 5Rs of supply chain management.

The main role of Materials management is to reduce inventory lying in the form of raw materials, WIP, FG etc., and manage them properly for cost saving as they are assets on the balance sheet and liabilities to Material Management.
This could be reduced using Milk Run, JIT and other processes but always taking care that production is not hampered.
 

 
Importance of Material Management
jacobsamuels, Member
Material Management is the designing and planning the movement of material in the supply chain and logistics.
Material management is related with Lean Management i.e. the elimination of waste.
It is here wherein material management has its importance.
 

 
 

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