UNIT-3 MATERIALS MANAGEMENT
Introduction and Scope of Materials Management
Materials management is a unified approach to handling materials in industry, aiming for cost red...
Material Planning and Control
Material planning and control is crucial and is influenced by both broad and specific factors. In...
Purchasing and Stores Management
Purchasing Objective: Ensure continuous material supply. Reduce finished goods cost. Key to Man...
Inventory Control Techniques
Inventory Basics: Inventory = Stocked materials acting as a buffer between supply and demand. Ef...
Vendor selection, development and Vendor rating
Vendor Selection Importance: The purchasing department is responsible for choosing the right sup...
Standardization and Simplification
Definition: Standardization is establishing benchmarks for measuring quality, quantity, value, pe...
Value Analysis, Ergonomics, Just in time
Definition: Value Analysis (VA) is a systematic method to enhance a product's value by either cut...