Materials Management - Best Buying Results When Annual Procurement Cost Equals Annual Inventory Carrying Cost Discuss

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MATERIALS MANAGEMENT

1. What do you understand from integrated materials management? What are the obstacles encountered to make this approach effective?

2. Name the industry and the products for which materials requirement planning technique would be suitable than economic order quantities and explain why?

3. What do you understand from Materials Requirement Planning (MRP)? What are its advantages over conventional tools of inventory planning? Which types of industries have use of this technique ?

4. Why should purchase department participate in product development ? Explain to what extent it is practiced in Indian Industry ?

5. Describe the procedure to be followed for the purchase of an item until payment of the bill. Indicate the controls involved.

6. What are blanket orders ? What are their salient features ? For what type of items is this method of buying suitable ?

7. How will you organize buying of seasonal commodities? Explain giving examples ?

8. How does “Buying under risk” differ from “Buying under uncertainty” ? Give a comparative analysis of the two methods ?

9. What are the responsibilities of receiving stores ? What are the different types of materials received in the organization ?

10. What is pallet ? What are the different types of pallets used in the industry? Describe in brief the advantages of palletisation ?

11. Define logistics management. Explain briefly the benefits that can accrue to the organization from the successful implementation of the concept ?

12. How does an effective system of electronic data processing help in materials management?

13. What do you understand from classification of materials ? why is it done ?

In what…...

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