Introduction to Materials Management

Materials management refers to the process of planning, procuring and storing the right materials in the right quantity and quality at the right time in the right place. It is one of the most important mechanisms of management that is required by organizations of all sizes for their survival in the market. It helps in accomplishing objectives of the organization such as the storage of materials, purchasing materials, and movement of materials.

Today, material management is as significant in the organization as other management parts. Even before the production begins, it is the duty of the materials manager to ensure that there is the availability of the right materials for the production of defined goods. Apart from these, material handling, warehouse planning, packaging, accounting and other functions related to the production of the goods are a part of materials management.

Objectives of Materials Management

There are certain objectives of material management required to be accomplished for the betterment of the organization. They are as follows:

  • It has to maintain production continuity. A material manager has to buy the right amount of materials of the right quality at the right time from the right place and at the minimum cost. He ensures that all materials are available at all the organization’s production centers.
  • With the help of materials management, there must be a uniform flow of materials.
  • It must efficiently control the inventories at the production centers.
  • It creates a better relationship between the seller and the buyer.
  • A material manager must maintain good ethical standards within the organization’s premises.
  • Through material management, a manager has to maintain proper working capital to continue with the production processes.
Why Choose Materials Management as a career option?

By now, you must be clear that material management is an important part of organizational processes. Hence, there is a high demand for material managers in the industry. If you wish to enter and ace this burgeoning field, you need to possess requisite skills and knowledge.  For this, a materials management course is highly necessary. Even the salary package of professionals depends upon their contribution to the profitability part of the organization.

According to a survey, it was found that a novice material manager is capable of earning an average yearly package of ₹2,50,000 to ₹3,50,000. With increasing years of experience, he can even earn ₹8,00,000 LPA or more.

Are you keen on shaping your career as a material manager but you are unable to pursue a course due to certain reasons? If this is the case with you, then we have good news for you. Now, you can upgrade your skills and study at your convenience by pursuing management courses via distance education.  

Best Distance Learning Institute

MIT School of Distance Education (MIT-SDE) is a pioneer distance learning institute in the country. It is affiliated to AICTE and UGC. The institute offers management courses that are at par Distance MBA. Here, you can choose from a 24-month Post Graduate Diploma in Business Administration (PGDBA), 18-month Post Graduate Diploma in Management (PGDM) and a 12-month Post Graduate Certificate in Management (PGCM). These courses are available in exciting specializations such as Supply Chain Management, Marketing Management, Retail Management, IT Management and Material Management.

The syllabus is up-to-date to sync with industrial trends and study material is prepared by industry experts, which ensures that you gain relevant knowledge and skills. If you are willing to choose the best Materials Management institute in India, then you must opt for MIT-SDE.