Capacity Planning – Meaning, Classification and its Goals
February 12, 2025
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What are Mediation and Arbitration ? Mediation and Arbitration are features of the business landscape that let aggrieved parties resolve their disputes in a structured manner. In the corporate world, breach of contract, non-compliance with the terms of the agreement between companies, failure to pay or complete the work and other disputes are usually resolved […]
Purchase of raw materials is an integral part of any business, i.e. manufacturing organization or service organization.
Purpose of raw material is to be converted into finished goods for selling, but after purchase and before selling, they need to keep in safety and good care. The timeframe of storage can be short period or longer depending upon nature and requirement of materials.
Any damage or theft to the materials is going to increase cost to the organization. So it becomes important for organization to have a robust and effective warehouse as well as material’s management.
The place where raw material and/or finished goods are stored is referred to as warehouse or store. Generally, warehouse is structure or building design keeping in mind raw material and finished goods it is going to store. Therefore, warehouse management should be able to:
If above objectives are met, warehouse management significantly increases the overall efficiency of the production and organization. A robust warehouse management would ensure that:
Warehouse design is art in which goods and material can be stored as to reduce wastage, cost of carrying and increase safety. The various factors considered for warehouse design are as follows:
There are three general ways in which goods are stocked as to reduce material handling and increase prompt access. They are as follows:
Material management is a sub-set of warehouse management dealing exclusively material which contribute the maximum to completion of the end product. The objectives of material management are as follows:
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