Archive | Material Management

The field of purchasing, which is a subset of materials management, centers on supplier or vendor selection. One of the major challenges for today’s purchasing managers in any industry -be it service or manufacturing-is selecting the right vendors for their components, parts and supplies. Selection of vendors includes determining the vendors and the amount of [...]

Material is the central item and activity of any organization. Organizations exist for material, works for material and due to material. The main purpose of any organization is to make profit, this profit or loss is generated due to material. Every organization deals with material whatever be the business.   As early as the nineteenth [...]

Objectives of MATERIALS MANAGEMENT:   The objectives of materials management are to buy materials and services of the right quality, in the right quantity, at the right price, from the right source, and at the right time. To purchase wisely involves constant search for better values that yield the best combination of price, quality and [...]

CRITERIA FOR VENDOR EVALUATION   Ø Suppliers interest in developing a partnership Ø Rate the suppliers delivery performance Ø Suppliers pricing against the market Ø Suppliers achievement of defect free delivery Ø Suppliers cost saving initiatives Ø Lead time against industry norm Ø Suppliers ability to avoid complaints Ø Suppliers  response to quality problems Ø [...]