material management

Role of Material Management in Improving Productivity & Profitability

Role of Material Management in Improving Productivity & Profitability
Role of Material Management in Improving Productivity & Profitability 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 controlling of activities ...
Read More

Action Plan for Inventory Optimization

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 analysed from various process industries. We will cover inventory optimization for discrete manufacturing in separate article. 1) Identify Consumption Pattern and Consumption Rate: Analyse 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: ...
Read More