Objectives of Purchasing The major objectives of scientific purchasing may be stated as follows: 1. Procurement of required quality and quantity of materials at the best price, not necessarily the lowest price. 2.Procurement of...
Creative Purchasing Meaning and Definitions of Purchasing Purchasing is an every-day function of almost everyone and occupies much of the time both of business houses and ultimate consumers. There are three basic types of...
Integrated Material Management Material management is a very wide term and includes store keeping and purchasing a wide variety of activities like materials planning, inventory control, value analysis’ standardization, production control and pre-design value...
Objectives of Material Management It is quite obvious that every department objectives are those one set by the organization at the time of formation.But since every department has its own type of functions, their...
Functions of Material Managements Area of material management can also be described as the functions of Material Management. Following are the functional areas of material management- (a)Co-ordination with various departments. (b)Material planning & control....
A manager has command over 4 resources men,machines money and materials which are known as 4m’s. These are the inputs of any business activity. A manager is expected to give required output from a...