• Understand how material management should be considered for profitability.
UNIT I INTRODUCTION
Operating environment-aggregate planning-role, need, strategies, costs techniques, approaches- master scheduling-manufacturing planning and control system-manufacturing resource planning- enterprise resource planning-making the production plan.
UNIT II MATERIALS PLANNING
Materials requirements planning-bill of materials-resource requirement planning-manufacturing resource planning-capacity management-scheduling orders-production activity control-codification.
UNIT III INVENTORY MANAGEMENT
Policy Decisions–objectives-control -Retail Discounting Model, Newsvendor Model; EOQ and EBQ models for uniform and variable demand With and without shortages -Quantity discount models. Probabilistic inventory models.
UNIT IV PURCHASING MANAGEMENT
Establishing specifications-selecting suppliers-price determination-forward buying-mixed buying strategy-price forecasting-buying seasonal commodities-purchasing under uncertainty-demand management-price forecasting-purchasing under uncertainty-purchasing of capital equipment- international purchasing.
UNIT V WAREHOUSE MANAGEMENT
Warehousing functions – types – Stores management-stores systems and procedures-incoming materials control-stores accounting and stock verification-Obsolete, surplus and scrap-value analysis-material handling-transportation and traffic management -operational efficiency-productivity- cost effectiveness-performance measurement
TOTAL: 45 PERIODS
• Student gains knowledge on effective utilisation of materials in manufacturing and service organisation.