Category: material managment

The materials manager is very much concerned with the quality of incoming materials, as he is responsible forthe supply of the right quality materials to the user departments, so that the quality of the...

The Storekeeper All manufacturing concerns appoint a person known as the Storekeeper, Chief Storekeeper or the Stores Superintendent who is in-charge of the stores departmentand is responsible for stores control. The storekeeper should have...

Stores Management To further strengthen material control, purchase control must be matched by equally effective stores control to avoid losses from misappropriation, damage, deteriorations evaporation and carelessness. The investment in materials constitutes a major...

The modern business is based on the cordial relationship. Buyer and seller are the base of entire show. A cordial relationship-internal and external, with in the organisation and outside the organisation may prove effective...

Capital Equipment Purchase major equipment includes machineryrequired for production operations. For accounting intention it is considered as a fixed asset, to be capitalised and depreciated over the period of financial life of the equipment....

International Purchase For a growing economy like India’s, achieving selfsufficiency should be the goal but not at the cost of imports. Importing is an essential economic function which cannot be completely eliminated. Ricardo’s principle...

Public Buying The centralised buying concept has rightly gained credence because it helps to keep wasteful competition and duplicative efforts to a minimum. The Directorate General of Supplies and Disposals constitute the central purchasing...

Legal Aspects in Buying The materials manager commits a good deal of corporate finance when he places purchase orders It is imperative that he understands the legal aspects that are relevant to his profession....

Determining the optimal Buying Strategy In building up this optimal buying strategy (as also in case of conservative and hindsight buying) the following assumptions are implicit 1. Time has been divided into successive periods;...

Methods of Purchasing It is an essential prerequisite of large-scale produetion that continuity of supplies should be maintained. It is as important as the cost of production, Running out of raw materials means danger...