Podcast
Questions and Answers
What is the primary focus of material management?
What is the primary focus of material management?
- Maximizing waste and increasing costs
- Ignoring waste and costs
- Minimizing waste and reducing costs (correct)
- Maintaining the status quo
What is a key objective of effective material management?
What is a key objective of effective material management?
- Excessive inventory holding
- Unplanned inventory shortages
- Just-in-time inventory (correct)
- Random inventory ordering
Why is material management important for businesses?
Why is material management important for businesses?
- To create unnecessary bottlenecks
- To maximize inventory holding costs
- To reduce customer satisfaction
- To increase operational efficiency (correct)
What are the consequences of poor material management?
What are the consequences of poor material management?
Flashcards
Focus of Material Management
Focus of Material Management
Minimizing waste and reducing costs related to materials.
Just-in-time inventory
Just-in-time inventory
A system where materials arrive precisely when needed for production or use.
Importance of Material Management
Importance of Material Management
Improving how a company operates by managing materials well.
Consequences of Poor Material Management
Consequences of Poor Material Management
Signup and view all the flashcards
