Material management is a scientific technique, concerned with Planning, Organizing & Control of flow of materials, from their initial purchase to destination.
Also, what are the types of material management?
Materials management include inventory management, purchase management, value analysis, store keeping, maintenance and upkeep of the inventories in hand and in process.
Also Know, what is production and material management? Definition of production and materials management: It is one of the core components of ERP which handle various aspects of production planning and implementation. This process involve forecasting, scheduling, ordering, and quality control.
Similarly, it is asked, what is material management and its importance?
Material management is a service function. It is as important as manufacturing, engineering and finance. The supply of proper quality of materials is essential for manufacturing standard products. The avoidance of material wastage helps in controlling cost of production.
What is meant by material?
The definition of material refers to a physical object, as opposed to something spiritual or mental, or something that is essential and relevant. An example of material is an interest in the physical space around you. An example of material is the most important point in an argument.