Category: material managment

Rail Transport Indian railway network is Asia’s largest and world’s fourth largest system. It has a tradition of competence builtover the last 125 years There has been a continuous modernising of the track, locomotives,...

Road Transport There are a large number of transport organisations the country having a fleet of trucks. They are suited for transporting freight of the order of 5 to 15 tonnes usually over distances...

Meaning and Definition Materials are of pivotal importance in the manufacturing of a product. No production is possible without materials. Moreover, materials form an important part of the costof a commodity and therefore proper...

Stores Accounting In relation to the estimation of the cost of the product for pricing decisions, stores accounting assumes a key role. Material costing is very important in terms of the valuation of the...

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...