With the COVID-19 pandemic come the various realizations, one of which is the significance of the management of every single resource. Though the meaning of material management is an entirely different context; however, one can understand the need of material management and its essence with the gravity of the situation.
Materials Management is referred to that branch of management studies which manages the planning, directing, controlling and coordinating the activities that facilitate the movement of raw materials from the point of their initiation to the end of their requirement in the manufacturing of products. It has emerged as a specific branch of knowledge during the last five decades.
As production is consistently expanding, the demand for tangible components is increasing as well. Due to this expanding demand for materials, a need for material management is established. It is an amalgam of understanding on trade, law and engineering that enables the candidate to imbibe the latest skills for managing the supply chain, logistics, delivery, storage, etc. of raw materials and impart training for improving output.
Material Management is a 2 Years course that can be opted by any graduate. It deals with a plethora of topics that help the students in a better understanding of the segment. Some of these topics are:
- Management Information Systems
- Managing e-business
- Legal Aspects of Supply Chain Management
- Enterprise Resource and Planning
- Strategic Cost
- Financial Management
Only a few institutes offer the specialization in material management in the form of the MBA. Leading the list of such institutes is MIT School of Distance Education (MIT-SDE) that offers various Post Graduate Diploma courses which are equivalent to Distance MBA courses (online courses). MIT-SDE is a significant part of MIT Pune, and the institute is positioned among Top 10 in colleges offering Distance Education. It offers various Post Graduate Diploma courses in management and business administration, for instance, PGCM, PGDM and PGDBA. Among these, PGDM is the one course that covers Material Management under it.
The knowledge preached by the institute is a way that makes students utterly aware of the need of Material Management in today’s world. To ensure the availability of right materials in the production process with minimum wastage to cut losses. To ensure that there is enough buffer stock so as to prevent any stoppage in production and that the available resources must be in accordance with the specification, sufficient quantity and functional. As a leading institute, MITSDE offers a multitude of facilities that help the students with the pursuance of this course, facilities like –
- An ultramodern Learning Management System (LMS), which is a cloud-based portal that aids easy delivery mechanism,
- Upgraded study content
- Video lectures by experienced tutors
- Innovative technology
- A set of highly qualified faculty members
These facilities not only help the students during the pursuance of the course, but it also helps it after its completion when students are prepared to turn into professionals. The institute has its alumni working with some financially rewarding job positions associated with this field like Purchase Manager, Strategic Planner, Materials Analyst, Supply Chain Manager, and many more.