material management

Role of Material Management in Improving Productivity & Profitability

Posted on by forceintellect
Role of Material Management in Improving Productivity & Profitability
Role of Material Management in Improving Productivity & Profitability of Manufacturing Companies One perpetual problem faced by manufacturing companies is the rising costs of materials and services. How to ensure continuous production while keeping stringent control on production costs is a concern for a lot of manufacturing SMEs. Hence, this article aims to emphasize the role of material management in improving productivity & profitability of manufacturing companies  What is Material Management? Material management is a function responsible for appropriate planning, organizing, and...
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Action Plan for Inventory Optimization

Posted on by forceintellect
Inventory Optimization has always been challenge for SMEs. The objective of this article is to suggest actionable steps for inventory optimization for SMEs. Steps mentioned in this article are prepared based on data analyzed from various process industries. We will cover inventory optimization for discrete manufacturing in separate article. 1) Identify Consumption Pattern and Consumption Rate: Analyze your past consumption data of minimum 2 to 3 years consumption. Based on analysis of past data you should be able to segregate items into different consumption patterns. Few examples are: ...
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Standard Material Management Process for growing SMEs

Posted on by forceintellect
Why do you need Standard Material Management Process Efficiency in operations is necessary for every organization and hence you need to manage your materials as efficiently as possible. Adopting Standard Material Management process can be a good option for you. A Standard Material Management Process results in customer satisfaction and the overall success of the company. In many ways, it is the backbone of the manufacturing process as well. Various activities involved in Standard Material Management Process are Codifying Materials and Services This deals with uniquely identifying each ...
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