ENTREPRENEURSHIP

Detailed explanation-1: -The goal of materials management is to provide an unbroken chain of components for production to manufacture goods on time for customers. The materials department is charged with releasing materials to a supply base, ensuring that the materials are delivered on time to the company using the correct carrier.

Detailed explanation-2: -A material manager ensures that operations are running smoothly and efficiently. This involves coordinating with production and logistics teams, monitoring performance metrics, and ensuring that materials are delivered to production on time and in the correct condition.

Detailed explanation-3: -The objective of materials management is to maximize the use of the firms’ resources by ensuring adequate supply of materials for production process and also minimizing cost of holding excessive inventories. This objective when achieved, leads to cost reduction and improve profitability.