Objectives of Material Management


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Objectives of Material Management

Primary Objectives

  1. Buying the best item at the lowest cost
  2. Reduction in inventory cost and High inventory turnover
  3. Maintaining the flow of production
  4. Maintaining the consistency of quality
  5. Optimization of acquisition and possession, resulting in lower cost
  6. Cordial relationship with suppliers
  7. Maintaining good records
  8. Contribution towards competitiveness
  9. Personnel development

Secondary Objectives

  1. Promotion of standardization with suppliers
  2. Development of reciprocal relations with customers
  3. Committees to decide on economic make –or- buy decisions
  4. Development of inter departmental relationships

 


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