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  Materials & Materials Control

Introduction of Materials

Raw-material is the first element of the cost of the product. The methods and technique to be followed for controlling this significant component are being considered here.

Material is one of the significant elements of cost and it has been observed that material content is about 60 to 65% in the product's total cost structure. The considerable proportion of material cost in the total cost needs increasingly attention of the management in the direction of this element. The term 'material' usually used in manufacturing concerns, considers to raw materials employed for production, fabricated and sub-assemblies parts. The words 'materials' and 'stores' are occasionally used interchangeably. Though, both the terms are different. 'Stores' is wider in meaning and comprises several other items besides raw materials, like tools, maintenance, jigs, fixtures, equipments and repair items, factory supplies, components.

Occasionally, finished goods and partly finished goods are also involved under the scope of this item. This chapter focus at discussing several aspects of material control like purchasing, storekeeping, issuing and other aspects such as material losses etc.

Control over materials is also essential to guarantee a steady supply of every item of material. In the nonexistence of quantity-on-hand information considering each item, there is a invariable danger of material being stored, in too small a quantity that may result in a heavy loss subsequent upon stopping of the entire assembly line, or in too large quantity resultant in severe obsolescence losses.

Concept and objectives of Materials Control

Material cost comprises a major part of the total cost of production of manufacturing firm. So the Proper accounting is needed for controlling the material by issue control, purchase control, stores control, and control over several losses. Material control mainly aims at proficient purchasing of materials, their proficient storing and efficient use or consumption. The following are the purposes of material control.

a. Material of required quality should be present when required for efficient and uninterrupted production.

b. Material should be purchased only while it is required and in most economic quantities.

c. Investment in material is preserved at minimum level consistent with the operating need.

d. Purchasing of material will be made at the most favorable prices within the best feasible terms.

e. Material is stored in such type of a way that the purpose of protection is met fully and at similar time material is made available easily.

f. materials' Issues are authorized appropriately and are accounted for properly.

g. Materials are continually charged like the responsibility of some individual.

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