- It is concerned with planning, organizing and controlling the flow of materials from their initial purchase through internal operations to the service point through distribution.
- Material management is a scientific technique, concerned with Planning, Organizing &Control of flow of materials, from their initial purchase to destination.
AIM OF MATERIAL MANAGEMENT
- The Right quality
- Right quantity of supplies
- At the Right time
- At the Right place
- For the Right cost
PURPOSE OF MATERIAL MANAGEMENT
- To gain economy in purchasing
- To satisfy the demand during period of replenishment
- To carry reserve stock to avoid stock out
- To stabilize fluctuations in consumption
- To provide reasonable level of client services