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Essentials of Materials Management Course

This course on Materials Management addresses the critical issue of scarcity, which constitutes a significant portion of organizational costs. It emphasizes the importance of effectively managing materials to meet human needs and improve living standards while conserving resources for future generations. Upon completion, students will gain knowledge in various aspects of materials management, including demand forecasting, purchasing principles, make-or-buy decisions, and inventory management.

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Eyob Eyob
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69 views1 page

Essentials of Materials Management Course

This course on Materials Management addresses the critical issue of scarcity, which constitutes a significant portion of organizational costs. It emphasizes the importance of effectively managing materials to meet human needs and improve living standards while conserving resources for future generations. Upon completion, students will gain knowledge in various aspects of materials management, including demand forecasting, purchasing principles, make-or-buy decisions, and inventory management.

Uploaded by

Eyob Eyob
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

Course Introduction

Dear Students, Well come to this interesting course i.e Materials management.
The need for this course emanates from one crucial problem, Scarcity.
Materials, which constitute 60-70% of cost incurred by most originations, are
scarce in nature. Moreover, the rapid growth of wold population together with
the increment in industrialization, adds up the need to handle or in
professional term the need to manage this core M in the AM's of factors of
production and full fill the non- stop human desire and improve the standard of
living as well. Poor materials mgt not only jeopardizes the plants capacity
improve the goods & service that the society so urgently requires, but also goes
beyond that, i.e as out plant earth is replaced it is our responsibility to conserve
& presence for the coming generation. So, the need to study this admirable &
adorable course surpasses optimizing a company's cost.

The primary focus of this course is on balancing & compromising of the


interrelated objectives which often requires sacrifice of one objective for the
achievement of the other. Materials management is the essential activity of an
enterprise, which is responsible for co-ordination of materials planning,
sourcing, purchasing, moving, storing & controlling in an optimum manner
from raw materials state to finished good state; the whole way through solving
the paradox of having enough quantity, quality, to west possible cost and
satisfying customer need.

Course Objectives

After completing this course you will be able to


1. Know the back ground of materials management
2. Know the basic concept of for casing materials demand
3. List the main principles of purchasing
4. describe the issues relating to make-or-buy decision
5. Have a good knowledge about inventory mgt.

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