Importance of materials management, Project Management

Importance of Materials Management

The  primary  and secondary  objectives  listed  above  should  themselves give us clear idea about  the  importance of materials management. The significance of an efficient materials management  system  needs  no emphasis.  It will facilitate the accomplishment of the followings objectives.

1.  Lower  prices for materials  and equipment.

2.  Faster inventory turnover.

3.  Continuity of  supply.

4.  Reduced lead time.

5.  Reduced transportation  costs.

6.  Less duplication  of efforts.

7.  Elimination of  buck passing.

8.  Reduced materials  obsolescence.

9. Improved supplier relationship and better records and information.

10. Personnel  development.

Posted Date: 2/25/2013 7:02:11 AM | Location : United States







Related Discussions:- Importance of materials management, Assignment Help, Ask Question on Importance of materials management, Get Answer, Expert's Help, Importance of materials management Discussions

Write discussion on Importance of materials management
Your posts are moderated
Related Questions
What is Buffering in risk management? Buffering: Buffering or slack is the allowance of additional cost, resources or time for example ‘just in case’ specific events or r

Ask question #Miniwhat circumstances that favor turn key contracts mum 100 words accepted#

What is the principle of parity of authority and responsibility? The principle of parity of authority and responsibility states which in delegating; managers should match the r

Project Closure   Project closure is the last stage of the Project Life Cycle. The beginning of the Project Closure Phase is analysed by the completion of all project objectives

what action should be taken by various functioal managers to meet the scheduled dates

Disadvantages of Product Layout - High Overhead charges Due to heavy investment, the overhead fixed charges also tend to be high. A decline in demand for the product will rend

Layout Planning and Analysis Designing and installing a layout for the first time and subsequent revision may be looked after by the. Engineering or planning department. Not i

What are the important traits for a coach of a cricket team needed? The three significant traits needed for a coach of a cricket team are as follows: a. Decisiveness: The


Problem 1: a) ‘Project Management is closely linked with the management of change' Explain why. b) Elaborate on two models of change. Explain the relevance, applicability