Materials Management DMGT525 Edited by Dr. Dilfraz Singh (BBA)

About This Course

MATERIALS MANAGEMENT
Edited By Dr. Dilfraz Singh
Printed by
EXCEL BOOKS PRIVATE LIMITED
A-45, Naraina, Phase-I, New Delhi-110028
for
Lovely Professional University Phagwara

SYLLABUS
Materials Management
Objectives: The course intends to equip students with updated knowledge of modern materials management concepts and aims to develop their functional expertise in the store and purchase management disciplines.
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Topics
ABC Analysis: Meaning, Advantages, Objective, Purpose and Limitations, Simple Numerical of ABC Analysis.
1.
Introduction: Meaning and Scope, Objectives and Significance of Materials Management, Material Management in Other Areas of Management Functions.
3.
Codification and Standardization: Basis of Codification, Characteristics of Good Coding System, Types of Coding, Standardization and its Benefits.
4.
Purchasing Management: Objectives and Functions of Purchasing Department, Purchase Policy and Procedure, Negotiations, Purchase of High Capital Equipment and their Feasibilities. Supply Chain Management, Implementation of Supply Chain Principles within a Company.
5.
Suppliers Selection, Vendor Rating and Vendor Rating Techniques, Vendors Development and Vendors’ Relationship.
6.
Inventory Management: Different Costs of Inventory, Optimal Order Quantity, EOQ, Inventory Models with Purchase Discounts, Buffer Stocks, Fixed Order Period Model, Safety Stocks, Optimum Level of Safety Stock, Inventory Control, Elements of Effective Inventory Control, Advantages, Procedure for Setting up an Efficient Inventory Control System, V.E.D. Analysis, S.D.E. Classification, F.S.N. Analysis, X.Y.Z. Analysis, Logistics Management and Its Link with Inventory Control and other Areas.
7.
Value Analysis: Purchasing Research, Price Forecasting, Forward Buying, Make or Buy Decision.
8.
Stores Management: Purpose of Store Management, Location and Layout, Cost Aspects and Productivity, Problems and Developments, New Developments in Storing.
9.
Evaluation of Materials Management: Organization, Difficulties, Process and Criteria, Reporting and Purchasing.
10.
Computers in Material Management Electronic Computer, Integrated Computer System for Materials Management, Material Planning.