Purpose of Material Management
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- 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
Primary | Secondary |
Right price | Forecasting |
High turnover | Inter-departmental harmony |
Low procurement | Product improvement |
& storage cost | Standardization |
Continuity of supply | Make or buy decision |
Consistency in quality | New Materials & products |
Good supplier relations | Favorable reciprocal relationships |
Development of personnel | |
Good information system |
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