What's the Functions and Scope of Material Management? Discover It's Top Functions and Identify Scope of Applications!
Abstract Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements. The material requirements are communicated to procurement and other functions for sourcing. Material management is the process of planning, organizing, and controlling the flow of materials from the acquisition of raw materials to the delivery of finished products. The primary function of material management is to ensure that the right materials are available at the right time, in the right quantities, and at the right cost. This involves activities such as material planning and control, purchasing, stores management, inventory control, standardization, simplification, value analysis, ergonomics, and just-in-time (JIT) techniques to minimize waste and maximize efficiency. The ultimate goal is to ensure that materials are effectively util