Materials management is the process of handling and controlling materials within a company. This includes procuring, storing, and distributing materials as needed. An effective materials management system can help streamline operations and improve efficiency.
There are four main aspects to materials management: procurement, inventory management, shipping and receiving, and waste management.
Procurement is the process of acquiring goods or services. This includes finding suppliers, negotiating contracts, and placing orders. Inventory management is the process of tracking stock levels and ensuring that enough inventory is on hand to meet demand. Shipping and receiving involve coordinating shipments from suppliers and managing incoming deliveries. Waste management encompasses disposing of unusable materials in an environmentally responsible way.
An effective materials management system can help a company reduce costs, improve quality, and increase efficiency. By streamlining operations and improving coordination between departments, materials management can help a business run more smoothly and efficiently.