Materials and Financial Management

Description

Materials are needed in every organization for their production and service activities. Cost is acquired to procure or purchase these materials. Materials and Financial Management is the activity of every organisation for managing these resources which are related to planning, procuring or purchasing, storing and providing appropriate materials of right quantity, right quality at right place in right time so as to co-ordinate and schedule the operation and production process in an integrative way for an industry or any enterprise. Financial management controls the quantity and cost of these materials as per requirements so as to economise total cost of production and material storage to manage business of organisations. This book has chapters, which explains the technique of Materials Requirements Planning (MRP), purchasing, inventory planning and its cost control, break even analysis, value analysis, materials handling and just in time. Purchasing and supply chain management, the logistics of materials management and stores management and control supports it. Standardisation, simplification, classification and coding of materials are also included in this book. Forecasting and inventory planning topics in this book are essential to production planning and materials requirements in an enterprise. This subject of Materials and Financial Management is part of syllabus of Engineering and Management Studies in every technical institute, and universities in India and all over the world. Particularly it has the chapters as per the syllabus of RGPV, Bhopal (MP). This book is very useful for the technical institutions in M.P. It will be a textbook for this subject in Engineering, Management and Technical Colleges for students, teachers and professionals as Materials and Financial Management is a compulsary subject for all branches of engineering. This book also covers the course of AMIE and Institution of Industrial Engineering examination for materials and financial management. Dr. C.M. Sadiwala professor in mechanical engineering who graduated from M.A.C.T. Bhopal as B.E. (Mech. Engg.) in 1967. He served as professor in Mech. Engg. for last 30 years at M.A.N.I.T. (M.A.C.T.) Bhopal (MP) and retired in May 2006. Now he has joined as a Director of Rajeev Gandhi Prodhyogiki Mahavidyalaya, Bhopal. He did his Ph.D. in Materials Requirements Planning and Management from IIT Roorkee (UP) in 1990. He has prepared the curriculum in Materials Management for various engineering colleges in M.P. like M.A.N.I.T., Barakatullah University and RGPV Bhopal and has been teaching this subject for last 20 years. He has presented about 80 research papers in journals and conferences. He has attended the International conference in Production Research held at Osaka, Japan and presented his paper in this subject. He has guided number of Ph.D. students. He has 38 years of teaching experience.