Materials Management | Functions and Objectives of Material Management

This video is about Materials management.
Most manufacturing concerns spend more than 60% of the money they take in, on materials. That means materials soak up a substantial portion of the capital invested in the industry.
Material management involves controlling the type, amount, location, movement, timing of the purchase of various materials, etc.
The topics I have discussed In this video are-
1. What is materials management?
2. Functions of material management, and
3. Objectives of materials management.

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